An Atlanta-based software firm with more than 100 global customers including Coca-Cola Beverages Africa and France’s Michelin Tires, has raised $3.6 million from existing investors in its latest funding round.
Demand Driven Technologies’ solutions help companies better manage their supply chains, aligning the purchase of materials to sales rather than loose forecasts.
CEO Erik Bush says the upheaval in the global economy caused by the coronavirus outbreak has further underscored the need for companies to get a more accurate picture of their supply chains.
“Our solutions have helped customers around the world overcome the limitations of traditional supply chain offerings. This latest round of funding will allow us to substantially accelerate our efforts,” Mr. Bush said in a news release.
The company was founded in 2011 and was bootstrapped for six years before raising its first funding from Atlanta’s Mosley Ventures, a $3.7 million seed round last June.
The latest round was led by Shawn Welch of Midtown Capital Advisors, with support from Mosley Ventures, Alerion Ventures and other existing investors.
Barry Anderson of South Africa-based Coca-Cola Beverages Africa, said in a statement that the Demand Driven Technologies Replenishment+ software has helped the company improve performance on a variety of fronts.
“We’ve seen our inventory position, customer service levels, and working capital improve substantially. We’re excited that investors recognize the potential in their organization and the demand-driven operating model,” Mr. Anderson said.
Demand Driven has industrial customers on six continents, including Spain’s Izar Cutting Tools and Indaux, as well as Colombia’s Haceb and Ukraine’s Kormotech, according to case studies on its website.