Supply chain design software innovator Optilogic has secured $13 million in financing, led by MK Capital, a venture capital firm focused on supporting innovative B2B software companies. The funding will allow Optilogic to help any enterprise with a physical supply chain get full visibility into the cost, service, and risk of different supply chain design scenarios. With this investment, Optilogic will continue to expand go-to-market programs in consumer goods, retail, logistics, manufacturing, and distribution industries, as well as further development of its Cosmic Frog supply chain design platform.
“Don Hicks and his founding team are pioneers in the field of supply chain design with unparalleled industry experience,” said Mark Koulogeorge, managing partner at MK Capital. “By empowering organizations of all sizes and maturity levels to make smarter, faster supply chain decisions that consider risk, Optilogic is poised to transform the field of supply chain design and dramatically expand the addressable market.”
Read More: Quantiphi Wins Inc.’S 2022 Best In Business Award In The Established Excellence Category
Traditional supply chain design technologies have complex user interfaces, require costly capital and IT investment, and have lengthy implementation processes. Cosmic Frog, launched in November 2022, was purpose-built to be easy to use and implement. Its unique three-in-one design includes optimization, simulation, and risk engines. It can run even the largest models in a fraction of the time required by traditional design software, and automatically converts legacy supply chain design models.
In addition to major solution enhancements, Optilogic expanded its global research and development, customer success and executive leadership team. The company recently appointed Jennifer Randall as vice president of marketing and promoted Rebecca Janowiak to vice president of product management and Renee Thiesing to vice president of strategy and risk solutions.
“Optilogic is harnessing the most advanced technologies to drive a new and better way to design supply chains—by understanding and balancing cost considerations with service levels and systemic risk to predict the best, most resilient designs,” said Optilogic CEO and Founder Donald A. Hicks. “This latest round of investment will help us on our mission to rethink and rebuild supply chains.”
Read More: SalesTechStar Interview with Jeannine Shao Collins, Chief Client Officer at Kargo