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����̽̽, the leader in cloud ERP for the manufacturing enterprise, announces it has closed $50 million in new financing.

Troy, MICH., June 10, 2014 — ����̽̽, the leader in cloud ERP for the manufacturing enterprise, Tuesday announced it has closed $50 million in new financing. The round was led by funds and institutional accounts managed by T. Rowe Price Associates, Inc., with participation from existing ����̽̽ investor Accel partners.

This financing further demonstrates ����̽̽ Systems’ leadership in cloud-based ERP for manufacturing organizations. The company plans to use the new funding to accelerate investment in sales and marketing, as well as research and development.

����̽̽ was founded by manufacturing professionals to provide a cloud alternative to cumbersome, expensive and inflexible legacy, on-premises solutions. The ����̽̽ Manufacturing Cloud provides the only cloud-based ERP applications to support all aspects of manufacturing, from the shop floor to the top floor. The company offers a full manufacturing ERP solution from manufacturing execution, quality, supply chain, financials, HR and CRM—all in the cloud.  Nearly 400 companies representing more than 1,100 operations in 20 countries worldwide use ����̽̽ to run their businesses.

Comments on the News

“Manufacturing is moving to the cloud, and the caliber of our investors reflects both ����̽̽’s established leadership and the market opportunity in front of us,” said Jason Blessing, chief executive officer of ����̽̽ Systems. “This financing allows ����̽̽ to continue to invest in our go-to-market capacity and to further expand our market-leading product portfolio. I’m thrilled to have T. Rowe Price join the roster of ����̽̽ investors, and to have Accel continue to expand their investment in us.”

“����̽̽ has established a leadership position in cloud solutions for manufacturing, with a platform that is agile enough to support everything from making beverages to assembling diesel engines,” said Tom Watson, equity research analyst at T. Rowe Price Associates. “In addition, the company has strong management and has demonstrated an ability to satisfy its customers.  We believe that all of these factors should position the firm for success over the long term.”

“����̽̽ built its leadership based on a fresh approach to enterprise software, leveraging the agility, connectivity and cost-savings of the cloud to transform the way manufacturing organizations run,” said Petri Oksanen, principal at Francisco Partners and ����̽̽ board member. “With this funding, ����̽̽ is ideally positioned to extend that leadership position.”

“����̽̽ has established itself with an industry leading product, a portfolio of happy customers and a proven management team,” said Sameer Gandhi, partner with Accel Partners. “Our expanded investment in ����̽̽ reflects our belief in their leadership in cloud solutions for manufacturing, along with the company’s excellent prospects for long-term growth.”

Pacific Crest Securities acted as financial advisor and assisted ����̽̽ in this financing.  Other existing investors in ����̽̽ include Francisco Partners.