ATLANTA, June 18, 2014 /PRNewswire/ -- LogFire, the leading multi-tenant Cloud-based warehousing and in-store inventory management and fulfillment platform provider, announced the closing of a $8.25 million Series A investment. The equity infusion, led by Edison Ventures with co-participation by Fulcrum Equity Partners, will be used to accelerate company growth, drive innovation and adoption of its already leading supply chain fulfillment solutions and managed services to best support its customers as well as industry and geographic business development efforts. LogFire's platform leverages flexible configurable business processes rules that do not require custom modification and are able to manage even the most complex multi-channel consumer goods and retail inventory and fulfillment needs.
LogFire manages the largest multi-tenant cloud-based warehousing and in-store inventory platform and is rapidly expanding with more than 5,000 users worldwide.
LogFire's platform is used by top retailers, wholesalers, third party logistics (3PLs), manufacturers, and ecommerce companies around the globe to solve critical multi-channel warehouse management and supply chain fulfillment challenges, delivering immediate and ongoing return on investment (ROI) at a lower total cost of ownership (TCO).
"We have had outstanding success building the company with no outside capital, and we felt the time was right to bring on additional capital to strengthen our growth and maturity to best meet the needs of the market and our customers," commented Diego Pantoja-Navajas, LogFire Founder & CEO. "This investment also validates that the financial community shares our vision and mission that LogFire is well poised to lead in the supply chain execution market. Our customers will benefit from our ability to continue our focused innovation and execution, helping companies of all sizes to extract the full potential of their supply chain operations."
"We continue to see strong market demand and momentum for cloud-based solutions, particularly in enterprise sectors," said Joe Allegra, General Partner at Edison Ventures. "We're excited about LogFire's growth opportunity given their already impressive track record across tiers, industries and countries."
"We too are excited to participate and help LogFire in this next stage of their growth and market penetration," added Jim Douglass, Partner with Fulcrum Equity Partners. "LogFire's total cost of ownership value is incredibly compelling and is even further amplified when companies leverage LogFire as the platform for connecting their supply chain and solving their end-to-end supply chain challenges."
LogFire is the leading provider of innovative multi-tenant cloud-based supply chain execution, warehouse management, in-store inventory management, and fulfillment solutions for manufacturers, wholesalers, retailers, e-commerce companies and logistics service providers (3PLs/4PLs) of all sizes. LogFire combines strong supply chain, warehousing, logistics, and retail domain expertise with flexible cloud-based solutions and Software-as-a-Service (SaaS) pricing for multi-channel warehouse management and in-store inventory management needs, providing inter-enterprise as well as extended-enterprise network and total cost of ownership advantages over traditional systems. For more information visit www.LogFire.com.
About Edison Ventures
For 28 years, Edison Ventures has been helping CEOs and their executive teams navigate the entrepreneurial journey to becoming successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and both industry and functional events, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and interactive marketing industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases. The Edison portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Lawrenceville, NJ, New York, NY, McLean, VA and Cleveland, OH, currently manages more than $850 million in active investments throughout the eastern United States.
About Fulcrum Equity Partners
Fulcrum Equity Partners is a growth equity fund based in Atlanta with over $140 million under management. Fulcrum invests in a wide variety of industries with an emphasis on information technology, healthcare, business services and technology enabled operating companies. Fulcrum provides initial equity financing of $1-5 million and up to $10 million over the life of the investment to meet a wide range of needs, including internal growth initiatives, acquisitions, management buy-outs, shareholder liquidity and recapitalizations. Additionally, the partners have over 110 years of relevant experience, including operations, venture capital, mezzanine finance, accounting, law, investment banking and strategy consulting. For more information, visit www.fulcrumep.com.
Anika Corneal, PR
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