LLamasoft Gets Financing To Boost Growth and Innovation
ANN ARBOR -- LLamasoft Inc., the provider of supply chain design software and services, announced that it has accepted a major investment to accelerate its product, technology and market expansion.
MK Capital and Nike Ventures provided this first institutional financing for the 10-year-old company, which has more than 100 employees, offices in North America, Asia and Europe and registered 80 percent revenue growth in the past year. Augment Ventures and First Step Fund also participated in this round of financing.
Llamasoft would not disclose the amount of the investment, but an MK Capital press release said it was $6.1 million.
MK Capital is based in Northbrook, Ill., with offices in Ann Arbor and Santa Monica, Calif. Nike Ventures is based in Portland, Ore. Augment Ventures is based in Ann Arbor. The First Step Fund is a partnership of the Invest Detroit Foundation, TechTown, Ann Arbor Spark and Automation Alley and is based in Detroit.
The terms of the financing were not disclosed.
"This engagement with MK Capital and Nike Ventures provides LLamasoft with the resources to take the company to the next level," said Donald A. Hicks, LLamasoft president and CEO. "LLamasoft has become the global leader in Supply Chain Design technology, and we are excited about the strategic value these partnerships will bring to enable the continued evolution of our technology and business solutions."
LLamasoft is known for its Supply Chain Guru design application and solutions. Used by many Fortune 1000 companies, Supply Chain Guru enables companies to design, analyze and optimize global supply chains to achieve lower costs, greater sustainability and improved service. The financing will enable LLamasoft to further accelerate talent acquisition, product development and expansion to cloud and mobile platforms.
Said Toby Brzoznowski, LLamasoft executive vice president: "These funds will help us leverage our experience and technology to deliver a truly unique, go-to platform for Supply Chain Design that is the centerpiece of every company's business strategy."
LLamasoft supply chain design software helps organizations worldwide design and improve their supply chain operations. LLamasoft solutions enable companies across a wide range of industries to model, optimize and simulate their supply chain network, leading to improvements in cost, service, sustainability and risk mitigation.
More at www.LLamasoft.com.
