Softeon, Reston, Va., announced a minority investment from Warburg Pincus, a New York-based global private equity firm, to expand its sales and marketing teams, geographical presence and product innovation.
Softeon provides a broad array of supply chain capabilities, including labor and resource management, store enablement, planning and network inventory management, 3PL billing and freight audit and more. Plus, Softeon recently expanded its supply chain execution capabilities with what is said to be a one-of-a-kind solution for autonomous flow distribution through its state-of-the-art warehouse execution system offering.
“Softeon has been fully self-funded and profitable since its inception. This investment validates our recent performance and strengthens our commitment to offer industry-leading solutions to more customers in more verticals, with a continued focus on exceptional customer success and satisfaction," says Gana Govind, president, Softeon. “Our partnership with Warburg Pincus will accelerate such efforts, and I am thrilled to see the company enter its next growth phase.”
“Softeon is an exciting opportunity for us given its differentiated supply chain solutions and strong customer base. Warburg Pincus has a long-standing track record of investing in the logistics technology sector, and we look forward to partnering with the Softeon team as they continue to expand,” says Alex Berzofsky, managing director, Warburg Pincus.
“Their software is crucial for many companies of all sizes and complexities with warehousing needs. We are confident that the company is primed for strong growth in the years ahead,” adds Angel Pu, vice president, Warburg Pincus.