(Press Release) – Mountain View, Calif. – Feb 4, 2014 – Elementum, a supply-chain mobile management startup, has raised $44 million in Series B financing to emerge from stealth mode.
The new funding round was led by Lightspeed Venture Partners and Flextronics, the public contract manufacturer that previously funded and incubated Elementum.
The Mountain View-based company’s technology uses cloud and mobile apps to allow firms to manage supply-chain information, like monitoring key performance indicators and tracking shipments, according to a press release.
Elementum CEO Nader Mikhail announced the launch via blog post Tuesday morning:
“When I was leading the Innovative Solutions team at Flextronics, I saw an opportunity for a simple cloud-based solution to address the complex issues facing today’s supply chains. The scope? A global economy worth over $70 trillion—of which a third of that is product. To help, I teamed up with the brightest and boldest supply chain experts to solve one of the world’s biggest problems. Together, we’re not only modernizing an age-old industry, we’re catapulting it into the future.”
The nearly 2-year-old startup has raised $60 million so far. Customers range from Dyson to Enphase Energy.
About Elementum
Elementum enables OEMs to easily manage their end-to-end supply chain in the cloud. Whether you need visibility into on-time customer shipments, alerts when disaster strikes near manufacturing sites, or an easy way to automate order management among contract manufacturers, suppliers, distributors, and carriers, Elementum has an app to manage that. Unlike traditional supply chain management solutions, Elementum apps are simple to provision, easy to configure and use, and incredibly fast to deploy.