New Round Enhances Technical Platform; Expands Company Footprint to Los Angeles and Helps Grow Team to Meet Demand
FactoryFour, a software company reinventing manufacturing management around a cloud-forward technology stack, today announces a $5 million Series A round led by August Capital, with participation from existing investor Refactor Capital.
The capital raised will accelerate development and deployment of the company’s production management software, which helps manufacturers gain visibility into their unique processes and make strong data-driven decisions. To support this growth, the company is also using the new investment to increase their sales and engineering teams, and wills well as establish a new West Coast office in Los Angeles, CA. Ramping up sales of its product to address growing industry interest will push the company closer to its mission: becoming the foundational software that will enable manufacturers to harness new digital technologies and optimize their processes.
“With new technologies like cloud-native and serverless integration, we foresee a major paradigm shift in how manufacturing can be managed,” said Param Shah, CEO at FactoryFour. “Traditional manufacturing software is rigid and outdated, unable to capture the nuances in a manufacturer’s production processes. Inevitably, they have to resort to spreadsheets and clipboards to make any sense of what is happening on the floor. Our product is going to replace these manual processes with a system that will not only help them gain visibility and insight into their unique processes, but will serve as a foundation to elevate their business.”
FactoryFour provides manufacturers with a real-time system of record for their work-in-process (WIP) - the unfinished goods which still require further work, processing, assembly and/or inspection. The cloud-based application lets customers completely customize workflows to their unique requirements, gather real-time data from the production floor, and integrate the various tools in their ecosystem to help enhance manufacturing efficiency. Manufacturers small and large – across industries – use FactoryFour to gain visibility into production, minimize lead time, and to make strong, data-driven decisions for their businesses.
“Born in the cloud and led by an exceptional team, FactoryFour is poised to transform how manufacturers manage their operations and deliver products to customers.” said Villi Iltchev, partner at August Capital. “The Company has demonstrated great success serving a wide variety of customers with a broad range of industry applications. We are excited to back this great team to help accelerate both product development and their customer growth as they transform the operations of manufacturers worldwide.”
As part of the financing, Villi Iltchev and David Lee, Managing Partner at Refactor Capital, have joined FactoryFour’s Board of Directors.
To learn more about FactoryFour’s products, discuss partnerships, or find job opportunities, please visit www.factoryfour.com or email contact@factoryfour.com.
About FactoryFour
FactoryFour is reinventing manufacturing management around a modern technology stack. We are replacing legacy software and spreadsheets with a real-time system of record that is highly customizable, simple to use, and quick to deploy. Our software gathers truthful, real-time data so manufacturers can minimize lead time and make strong, data-driven decisions. FactoryFour is backed by August Capital and Refactor Capital.
