MP Objects BV, the leading provider of cloud-based Customer Chain Control Software-as-a-Service announced it has raised its first round of outside capital in a $10 million growth equity investment from Updata Partners. MPO's cloud-based SaaS allows its users, including international logistics leaders and blue chip companies such as CEVA, DSV, eBay, Geodis, IBM, Johnson & Johnson, Patagonia and Unilever, to manage and optimize individual customer orders through today's increasingly complex and global supply chains. MPO has experienced very strong revenue growth in recent years, and it will use the new investment to expand into the United States and scale its marketing and sales.
"We are delighted to have Updata's backing to help us bring our cloud software for Customer Chain Control to more and more customers," said Martin Verwijmeren, MPO's Chief Executive Officer. "Today, how you get your product into your customer's hands is as important as the product itself, and we believe the market will increasingly focus on order optimization as a critical strategic capability."
According to the strategic consulting and research firm, McKinsey & Company, by the year 2020 80% of goods will be manufactured in a country different from where they are consumed. At the same time, customer expectations for rapid, personalized delivery are rising as market innovators like Amazon emphasize logistics capabilities to win more business. In order to remain competitive, more and more companies will need to offer a superior order sourcing and delivery experience to their customers.
MPO enables companies and their customers to select the optimal sourcing and delivery path for each order based on factors such as stock availability, price levels, lead times and routing options, thereby creating a unique supply chain - which MPO refers to as a "customer chain" - for every order. MPO then manages the supply chain steps (e.g., packaging, instructions, shipper tracking, etc.) through every participant in the system (supplier, shipper, carrier, last mile, etc.). The Company provides a single SaaS platform for order planning and execution that leverages existing enterprise systems (Enterprise Resource Planning, Warehouse Management Systems, Transportation Management Systems, etc.). With MPO, companies see higher revenues, by being able to deliver a better customer experience, and lower costs, by capturing details within each order's supply chain that were previously unmanaged.
Updata General Partner James Socas joins MPO's board, along with the Company's co-founders, Martin Verwijmeren and Paul van Dongen, MPO's Chief Technology Officer, as well as Wim Heijting, former senior executive at Baan Company and an advisor to high growth software companies.
"Every business from shoe stores to medical supply companies to engine turbine manufacturers recognizes that customer expectations for rapid and custom delivery are paramount, but their existing systems are not prepared to meet that need," said James Socas, Updata General Partner. "Martin and Paul have bootstrapped and built an impressive answer to this problem, validated by some of the top names in business. We expect great things from MPO."
About MP Objects
MP Objects is the leader in cloud-based Customer Chain Control SaaS. MPO provides customer-driven order optimization and orchestration over today's increasingly complex and global supply chains. MPO is used by leading brands and logistics service providers for millions of orders to create and manage dynamic supply chain configurations that meet each customer's unique requirements. For more information, visit http://www.mp-objects.com.
About Updata Partners
Updata is a leading growth equity firm with more than $650 million of capital under management. Updata invests in high-growth software, Internet, and technology-enabled service businesses with innovative intellectual property and market-leading solutions where the combination of the firm's financial backing and the operating expertise of its partners will accelerate growth. For more information, please visit http://www.updata.com.
