With funding round complete, Optilogic looks to advance
SaaS supply chain network design innovation
Beringea U.S., a transatlantic venture capital investor that seeks to create lasting success for rapidly scaling entrepreneurial companies, has co-led an investment in supply chain network design software innovator Optilogic. The funding will accelerate research and development of Ann Arbor-based Optilogic’s supply chain network design software platform.
Optilogic plans to expand go-to-market programs across manufacturing, distribution, logistics, consumer goods, and retail industries; grow sales and marketing functions; and fund research and development for its Cosmic Frog supply chain design platform that enables companies to:
- Automatically compare hundreds of future-state supply chain scenarios to select the most resilient designs
- Implement incremental strategic supply chain changes on realistic timelines
- Develop action plans to reduce the impact of supply chain disruptions
- Design supply chains that balance cost, service, risk, and sustainability
Pressures of persistent economic and political uncertainty expose the weaknesses of traditional supply chain network design technologies that are slow, require costly capital and IT investment, and have lengthy implementation processes. SaaS-based Cosmic Frog network optimization runs 40% faster than competitor solutions, is accessible from anywhere, and uses hyperscaling technology to allow hundreds of models and scenarios to run in parallel on enterprise-scale computing resources.
"The Optilogic team has developed an impressive cloud solution, one that moves the industry forward in ways that are unique and differentiated from competitors and incumbents,” says Ben Bernstein, principal at Beringea. “We are excited to back a team from our home state that has had proven success before. We look forward to helping the company realize their vision and scale the business in a way that allows their customers to design optimized supply chain systems with a superior user experience."
Donald Hicks, CEO & Founder of Optilogic
Optilogic CEO and Founder Donald A. Hicks, sees this funding as a significant step in the company’s growth. “This new investment partnership recognizes the critical nature of the technology we’re building: Optilogic gives any company the ability to envision and design a future supply chain without having to stumble into it. To not just reach the ‘efficiency curve’ of the current supply chain, but to shift the entire curve.”
Optilogic offers cloud-native supply chain network design solutions that enable businesses to evaluate trade-offs across financial performance, service levels, and systemic risk to design resilient supply chains even in the most dynamic, challenging environments. Its Cosmic Frog supply chain design solution tackles enterprise data at scale, runs models faster than ever, automatically converts legacy models, and requires no IT footprint. Cosmic Frog is the only supply chain design platform to combine optimization, simulation, and risk engines, and includes a risk rating on every scenario. Solutions include network design, intelligent greenfield analysis and site selection, M&A analysis, near-shoring/reshoring, CapEx planning, cost-to-serve, product flow, and many more. www.optilogic.com/