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TrueDemand Software gets $8 million in venture capital
TrueDemand Software, provider of web-enabled software designed to let retailers share demand forecasts with suppliers, is receiving $8 million in a new round of funding led by CMEA Ventures.
TrueDemand Software Inc., provider of web-enabled software designed to let retailers share demand forecasts with suppliers, is receiving $8 million in a new round of funding led by CMEA Ventures, TrueDemand said today. Original investors Mayfield and Bay Partners also joined in the funding, which brings TrueDemand’s total venture capital to $14 million.
TrueDemand will use the new funding to pay for ongoing development, marketing and sales of its suite of predictive sales and supply chain applications for retailers and manufacturers. The company’s software integrates predictive analytics with sales data and supply chain information to help retailers reduce out-of-stocks and store operating costs while optimizing promotions and new-product launches.
"Over the past year, we`ve really focused on putting the company in a position to make a major impact on the way manufacturers and retailers execute across the supply chain," says TrueDemand CEO Eric Peters. "By providing solutions that take a single view of the supply chain from the retail shelf back to the manufacturer`s DC and by integrating that view with the sales and customer replenishment capabilities of an organization, we have uncovered significant value creation opportunities for the supplier, retailer and consumer.”