Supply chain software maker Accellos earmarks $28M for acquisitions
Accellos Inc., a creator of software for supply chain management, announced today that it bagged $28.5M in second round financing. The Colorado Springs, Colo.-based company also just bought Prophesy Transportation Solutions Inc., its fourth acquisition, and plans to funnel its new funding into absorbing similar companies that could infuse its revenue stream. The round was led by new investor Monitor Clipper Partners and included existing contributor Centennial Ventures as well as Accellos’ founders.
Accellos was founded in 2006 to provide companies with less that $500M in revenue with software capable of managing their supply chains — everything involved in moving products or services from point A to point B — from start to finish. In order to become a central, comprehensive service in an incredibly fragmented field, it needs (and plans) to continue buying up other software vendors targeting that segment of the market.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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