Deposco Secures $35 Million in New Growth Funding Led by NewSpring
Investment reflects the increasing importance of fulfillment in the customer experience, validates Deposco's offering and emerging leadership position in the unified commerce software space
ALPHARETTA, Ga., March 1, 2021 /PRNewswire/ -- Deposco, the leading provider of cloud-based omnichannel fulfillment software solutions, today announced the closing of a $35 million investment round led by NewSpring, with participation from Aspen Capital Group and existing investors. The investment validates Deposco's team and technology, as fulfillment has evolved into an essential part of the brand experience for retailers and consumer goods companies. The funding is Deposco's first round of institutional investment.
"The supply chain industry has witnessed a dramatic shift over the past decade. It is now demand-driven and digital across consumer and business sectors," said Bill Gibson, Deposco's founder and chief executive officer. "Success is governed by economies of connectivity, rather than economies of scale. You can see the breakdown of legacy supply chain technologies and methods through the lens of COVID-19 in 2020. Today, best-in-class organizations need to serve their customers in real-time, with a unified perspective of demand and supply. It's been incredibly rewarding to see our customers grow their businesses at record pace in this new environment, through innovation and partnership with Deposco."
Deposco's Bright Suite of applications drive revenue growth, improve customer experience, and streamline operations for its customers, by delivering revolutionary e-commerce, retail, and omnichannel capabilities. Online merchants, consumer brands, retailers, and 3PLs competing in today's environment need an operational platform that continuously adapts to changing market conditions and customer demands, optimizing each and every order for velocity, cost, and customer experience. Deposco's cloud-native platform, proprietary rules engine, and lightspeed methodology make its solutions the most real-time, adaptable, and rapid to implement on the market.
This investment will accelerate Deposco's development efforts to broaden and deepen its suite of unified commerce solutions. Additionally, the funds will serve to expand the company's presence in established and new international markets.
"As order fulfillment has become a critical driver of the brand experience, owning this essential function has become key to any company's success. Merchants are increasingly looking for partners that can provide them with the software and guidance necessary to build close connections with their customers," said Hart Callahan, NewSpring Principal. "Deposco is uniquely positioned to fill this gap in the market and unlock optimal customer experience for a rising class of next-generation businesses. Having invested in e-commerce companies and studied the omni-channel technology space for several years, Deposco's own blend of innovative technology and management vision stood out. We believe Deposco is primed for significant growth, and we're excited to be a part of their ongoing success story."
About Deposco
Deposco is a cloud-based, omni-channel fulfillment software provider offering a suite of advanced solutions to small, midsize and enterprise-class businesses. The company has supported over 120 million package orders to 35 million consumers worldwide, while processing approximately $10 billion in gross merchandise value (GMV) through its platform. From order orchestration and advanced warehouse management to dynamic sourcing, business forecasting and synchronized e-store applications, Deposco empowers business leaders to adapt, transform and lead their organizations to achieve unified commerce excellence in direct-to-consumer (DTC) and business-to-business (B2B) environments. To learn more, visit www.deposco.com
About NewSpring
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 160 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
SOURCE Deposco, Inc.
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