Plano Software Firm Lands $10.7 Million in Backing From London-based Investor

A British investor is pumping $10.7 million into a Plano software company that provides a cloud-based inventory management system.Systum secured the funding from London-based venture capital firm Octopus Ventures. The tech firm will use it to add new software functionality and expand sales and marketing efforts.Its software combines major business operations like inventory and order management, marketing, customer relationship management and digital commerce into a single platform."When you ask business owners in the wholesale distribution sector how many software applications they use to run their operations, the answer is normally between five and 10 separate applications," said CEO Dean Mansfield in a statement. "We've been able to crack the code and consolidate all of those functions into one single application."The new capital is on top of $7.5 million that Systum raised last year from Underscore VC and Hearst Ventures.  Continue reading...

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