TrueDemand Software Secures $8 Million in B-Round Funding, Capping Successful First Year Dedicated to Product and Partnership Development.
LOS GATOS, Calif., Aug. 30 /PRNewswire/ -- TrueDemand Software, Inc., a pioneer in the development of integrated sales and supply chain solutions for retailers and suppliers, today announced that the company has closed an $8 million B-round of funding led by CMEA Ventures. Original investors Mayfield and Bay Partners also participated in this round, which brings TrueDemand's total funding to date to $14 million. The funds will be used to fuel ongoing development, marketing and sales of the company's suite of predictive sales and supply chain applications for manufacturers and retailers. The TrueDemand solutions provide a new and innovative approach to driving top line revenue growth in the retail and food and consumer goods industries. By integrating planning and execution with predictive analytics TrueDemand has created a suite of solutions that can help reduce out-of-stocks, drive market share, optimize promotions and new product introductions, improve shelf management and reduce store operating costs. The funding caps a very successful year during which the company captured several leading manufacturers as customers, formed strategic partnerships with many market-leading companies and deepened its management team and board of advisors with several industry heavyweights.
"Over the past year, we've really focused on putting the company in a position to make a major impact on the way manufacturers and retailers execute across the supply chain," said Eric Peters, CEO of TrueDemand. "By providing solutions that take a single view of the supply chain from the retail shelf back to the manufacturer's DC and by integrating that view with the sales and customer replenishment capabilities of an organization, we have uncovered significant value creation opportunities for the supplier, retailer and consumer. What makes our approach unique is the groundbreaking science, a total process orientation to the problem and the commitment to helping our customers achieve top line revenue growth."
TrueDemand's forecasting and replenishment solutions are the first of their kind built from the ground up to take advantage of the new demand and visibility signals and make that information actionable. By using POS and RFID data, retailer provided collaboration information, internal data and marketing program information, TrueDemand can create a true picture of demand at a very granular level. The key is not just in providing this information, but enabling manufacturers and retailers to do something with it. By integrated planning, execution and information, customers can not only better anticipate potential problems in the supply chain, but they can proactively and automatically remedy supply chain problems before they occur.
The funding from CMEA Ventures, Mayfield and Bay Partners comes on the one year anniversary of the company's launch. Over the course of its first year, the company has successfully executed its strategy to deliver its products and forge strong relationships with many industry leaders. In addition to formally launching the Forecasting and Replenishment Suite in March 2006, TrueDemand formed partnerships with some of the industry's largest and most influential companies, including:
* Kimberly-Clark: In September 2005, TrueDemand and Kimberly-Clark announced a partnership that would help K-C to advance its RFID and EPC enabled consumer-driven demand chain; * Intel: In September 2005, TrueDemand announced that the company would develop its predictive solutions on highly scalable Intel-based platforms. Intel technologies provide the business transformation platforms that power the readers, servers, desktops, mobile devices and networks that gather and manage EPC-RFID data; * IBM: In September 2005, TrueDemand announced that the company was working with IBM to develop its predictive supply chain solutions on IBM's WebSphere middleware; * VeriSign: In January 2006, TrueDemand announced that the company would integrate and provide forecasting and replenishment applications with real-time data from VeriSign's Intelligent Supply Chain Services platform. The combined solution enables retailers and consumer goods companies to minimize out-of-stocks, improve new product introductions and promotions and optimize their replenishment processes; and * Alien Technology: In May 2006, TrueDemand announced that the two companies had collaborated to deliver the RFID ROI LaunchPad Program, the first offering of its kind that provides suppliers with a single, rapidly deployable combination of TrueDemand's leading suite of execution-based replenishment and forecasting applications and the Alien ALR-9800 WRDI-enabled Enterprise Reader, Alien Gen 2 tags and Alien training and services.
"We're extremely impressed with TrueDemand's vision and ability to execute. The number one agenda item for suppliers and retailers is how to drive top line revenue growth. Companies have been wringing out costs for several years and now realize that cost savings alone are not enough," said Jim Watson, managing director at CMEA Ventures. "Companies are swimming in a sea of information and are struggling with what to do with that data. TrueDemand's ability to make sense of these enormous volumes of data and use that information to predict and remedy problems before they occur will drive revenue growth. We believe that the market will soon be clamoring for solutions like theirs."
TrueDemand has also attracted a wide range of influential industry experts to the company, its board of directors and customer advisory board. Retired executives from Procter & Gamble, Sara Lee, Albertsons, Accenture and universities including Stanford University and Georgia Tech are members of various boards advising the company.
TrueDemand has also received industry accolades over the past year for their unique approach to predictive analytics for the supply chain. In May 2006, the company was cited as one of the "15 Tech Start-Ups to Watch" by InfoWorld Magazine, an honor given to new companies that offer innovative solutions to enterprise IT problems. In March, CEO Eric Peters was named a 2006 "Pro To Know" by Supply and Demand Chain Executive, an annual award given to supply/demand chain management professionals who have excelled in their commitment to improving the use of supply and demand chain technology and practices.
About TrueDemand (http://www.tdemand.com/)
TrueDemand Software is a pioneer in the development of integrated sales and supply chain solutions for retailers and suppliers. TrueDemand solutions take a single view of the supply chain from the retail shelf back to the manufacturer's distribution center and integrate that view with the sales and customer replenishment capabilities of an organization to drive sales growth. TrueDemand's solutions are the first of their kind built from the ground up to take advantage of the new demand and visibility signals and make that information actionable. By integrated planning and execution technologies together with predictive science, customers can not only better anticipate potential problems in the supply chain, but they can proactively and automatically remedy supply chain problems before they occur. TrueDemand customers include some of the world's leading manufacturers. With offices in Los Gatos, California and Pune, India, visit http://www.tdemand.com/ for more information.
TrueDemand is a trademark of TrueDemand Software, Inc. All other trademarks contained herein are the property of their respective owners.
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