The apparel chain filed for bankruptcy in January and closed its e-commerce site and stores.
HighJump Software of Eden Prairie, MN, provider of supply chain execution software, has closed a $10 million equity investment with Gemini Investors and St. Paul Venture Capital.
Eden Prairie, MN-based HighJump Software, provider of supply chain execution software, has closed a $10 million equity investment with Gemini Investors of Wellesley, MA, and St. Paul Venture Capital of Bloomington, MN. This represents the second investment in HighJump Software by St. Paul Venture Capital. HighJump said it plans to use the funds to accelerate the growth of its supply chain execution solutions that allow customers to collaborate and manage inventory across the enterprise and supply chain.
“Our success in securing this funding during difficult times in the supply chain execution market represents a tremendous vote of confidence in our technology and our company,” said Chris Heim, president and CEO of HighJump Software. “I`m thrilled that both Gemini Investors and St. Paul Venture Capital recognize that with additional resources, HighJump is uniquely positioned to emerge as the leader in the fragmented $5.2 billion supply chain execution market."
HighJump recently won deals with Circuit City, Starbucks Coffee, Overstock.com, and Shaklee.
"Upon introduction to HighJump Software, we very quickly saw an investment opportunity that is truly unique in today`s difficult economy and tight capital investment environment," said David Millet of Gemini Investors. "The company`s combination of sales and market momentum, unmatched technology, seasoned and proven management, and profitability in a very turbulent software industry convinced us that HighJump is on a path to become the dominant player in a highly fragmented and attractive market."