The investment will be used to accelerate product innovation, expand sales and marketing, and enable Campfire to continue delivering industry-leading software to manufacturers globally.
ANN ARBOR, Mich. and SAN MATEO, Calif., Sept. 24, 2024 /PRNewswire/ -- Campfire Interactive Inc. ("Campfire"), a leading provider of enterprise software solutions for manufacturing companies and automotive suppliers, has secured a $37 million majority investment from Invictus Growth Partners ("Invictus"). This investment marks a key milestone for Campfire and will support its continued growth, accelerate product innovation, and expand its market reach. The Company is trusted by many of the world's largest global manufacturers to manage forecasting and profitability analytics, with over $200 billion in revenue managed through the platform. Invictus Co-founder and Managing Partner William Nettles and Partner Jeremy Lai have joined the Board of Directors.
"This investment marks a pivotal moment for Campfire, enabling us to better serve our base of automotive suppliers with expanded product and support capabilities while growing our business within supply chains of other manufacturing sectors," said Dan Meyer, CEO of Campfire. "We are excited to partner with Invictus, whose expertise in scaling enterprise software businesses and machine learning, makes them the ideal partner for us."
Campfire enables its customers to maintain profitability in an increasingly complex manufacturing environment. Nation-state conflicts, material pricing volatility, sustainability initiatives, and shifting technologies (such as electric vehicle manufacturing acceleration) have created dynamic and complicated supply chains. These trends have made it progressively more difficult for even the largest manufacturing companies to forecast and make core business decisions including vendor selection, geographical presence, tooling investment, capacity planning, and workforce management.
Customers have historically struggled with a patchwork of home-grown Excel and email-based solutions to manually stitch together data from systems that do not communicate with one another, such as ERP, PLM, CRM, and third-party data feeds. Despite these investments, which together account for $62b in global spend, IDC reports that "lack of supply chain visibility and agility to see necessary changes in time" are the most problematic gaps across manufacturing companies.
Campfire's solution provides enterprise customers with a single pane of glass to forecast their business, understand dynamic cost inputs, automate pricing and quoting, and maintain profitability across multiple products and programs. Campfire's comprehensive suite of modular software provides reliable, real-time information across sales and finance functions and supports data-driven decision-making. The integration across modules facilitates end-to-end automation and shifts customer time from collecting data to analysis.
"Campfire's unique focus on the needs of manufacturing suppliers, combined with their innovative product suite, positions them as a leader in a market that's ripe for disruption," said William Nettles, Co-Founder and Managing Partner at Invictus Growth Partners. "We are excited to support Dan and the Campfire team as they continue to redefine what's possible for the manufacturing sector."
Through this partnership, Campfire will leverage Invictus' expertise in machine-learning, artificial intelligence and analytics, driving efficiency and further enhancing product offerings.
"Campfire's differentiated and value-oriented solution is uniquely positioned to support sales and finance functions with a single source of truth for the key information they need to drive profitability," said Jeremy Lai, Partner at Invictus Growth Partners. "We are thrilled to partner with Dan and the Campfire team to further accelerate their rapid growth trajectory and to enhance their market leading product offering."
Existing investors will retain a minority stake in the company alongside the company's founders, Pradeep Seneviratne and Sarvajit Sinha.
About Campfire Interactive
Campfire Interactive is a leading SaaS provider of core business applications for the manufacturing industry, offering a differentiated and modular platform that meets the evolving needs of manufacturers. The platform enables companies to gain deep insights into their demand environment, achieve visibility into complex input costs, and integrate in real-time with third-party technologies. Campfire's comprehensive suite includes modules for Opportunity Management & Sales Forecasting, Costing, Pricing, and Quoting, among others, and is trusted by a diverse range of manufacturing companies. For more information, visit cfi2.com.
About Invictus Growth Partners
Invictus Growth Partners is a buyout and growth equity firm that invests in outstanding bootstrapped and capital efficient, automation-enabled cloud software, cybersecurity and fintech companies that seek capital and strategic resources to accelerate their growth. The firm and all its professionals are based in San Mateo, CA. For more information, visit invictusgrowth.com or follow on LinkedIn, @Invictus Growth Partners.
SOURCE Invictus Growth Partners
Share this article