Pleasanton, CA (PressExposure) September 12, 2011 -- Steelwedge, the leader in cloud-based sales and operations planning (S&OP) and integrated business planning (IBP) solutions, today announced a $16 million growth equity investment led by Mainsail Partners, a leading San Francisco growth equity firm. The capital will allow Steelwedge to scale its sales and marketing efforts, continue investing in its core technology, and ensure seamless support for its global customers.
Steelwedge's software-as-a-service (SaaS) planning platform enables global manufacturing companies to recognize and respond profitably to fluctuations in supply and demand. The solution drives collaboration and consensus among the sales, marketing, finance, operations and supplier communities within a global supply chain so that executive decision makers can assess market demand, evaluate "what-if" scenarios, align finance, sales and production plans and measure performance.
"This investment will facilitate global sales growth and enable further investment in our core technology, while we continue to deliver world-class products and services to our current portfolio of blue-chip customers," said Glen Margolis, Chief Executive Officer of Steelwedge. "Mainsail Partners' reputation as an excellent partner to management, and experience building great companies with capital efficiency in mind differentiated them from other firms we considered."
"The investment in Steelwedge reflects our continued focus on investing in the next generation of software and technology-enabled service leaders. As thought leaders in their industry, Glen and his team bring an exceptional level of passion and commitment. We look forward to working with them to build a world-class product and well-respected brand," said Jason Payne, Managing Partner at Mainsail Partners. "Steelwedge has the most scalable and effective solution in the market and is well positioned to help companies better manage key drivers like recession-driven pressure on supply chain costs, globalization of operations, growing business complexity, volatility of supply chains, and increased customer service requirements."
About Mainsail Partners
Mainsail Partners is a San Francisco-based growth equity firm focused on investing in successful "bootstrapped" businesses and building them into great companies. Mainsail partners with entrepreneurs and management teams to accelerate growth through operational expertise and targeted capital investments. Three of Mainsail's portfolio companies were recently ranked on the 2011 Inc. 500|5000 list of fastest growing private companies in the U.S.