SPS Commerce Secures Additional $18 Million in Venture Capital Funding
Summary
SPS Commerce will use the funding to enhance its position as the leader in the supply chain integration services market through acquisition and expansion into new vertical segments. "Our extensive experience in the e-commerce, EDI and retail sectors helped us identify SPS as the likely category winner," said River Cities Capital Funds Principal Murray R. Wilson. This latest round of funding follows a stellar first quarter in which the company reached profitability and increased market traction with a number of significant customer acquisitions. "This latest round of funding clearly validates our vision of a suite of supply chain services provided through a cost-effective hosted model for SMEs," said SPS Commerce President Archie Black. We look forward to using this funding to complete a number of acquisitions that will allows us to more rapidly expand the reach of our network and broaden the scope of service offerings for our valuable customers."
