SupplyWorks Closes $6.2 Million In First Round Venture Funding: Press Releases: News and Events: SupplyWorks, Inc.
Summary
The new influx of capital brings total funding to more than $10 million and will be used to further software development and expand sales and marketing resources. Herrmann commented, "The capital not only provides the resources we need to continue to innovate in Internet purchasing, but also validates the architecture and strategies we have put in place. SupplyWorks offers a solution that significantly lowers these costs through Internet purchasing, yet provides these companies with essential management control across the entire organization." Tim Sensenig of New Meadows commented, "The customizable purchasing platform that SupplyWorks offers lets each customer create a strong supply chain strategy for end-to-end buying. The Companys Web-based solutions enable organizations to significantly increase competitive advantage, enhance market reaction time and flexibility, and strengthen financial performance.