We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Warburg Pincus buys minority stake in Softeon
newsworthy

Warburg Pincus buys minority stake in Softeon

October 17, 2019
Ben Ames
No Comments

Warehouse software vendor Softeon has sold a minority share of the company to the private equity firm Warburg Pincus LLC in a move to raise funds for a push to expand its sales and marketing teams, grow its geographical presence, and spark product innovation, the firm said today.

Terms of the deal were not disclosed.

However, Softeon said in a statement that this is the first investment the firm has ever received, with company President and Founder Gana Govind holding all the rest of the shares.

Reston, Virginia-based Softeon defines itself as a global supply chain software provider with a menu of products including warehouse management system (WMS), distributed order management (DOM), and warehouse execution system (WES) solutions. Softeon also provides an array of complementary supply chain capabilities including labor and resource management, store enablement, planning and network inventory management, 3PL billing, and freight audit.

"Softeon is an exciting opportunity for us given its differentiated supply chain solutions and strong customer base," Alex Berzofsky, managing director with Warburg Pincus, said in a release. "Warburg Pincus has a long-standing track record of investing in the logistics technology sector and we look forward to partnering with the Softeon team as they continue to expand."

That expansion is now planned to take place on several fronts, including a geographic push to bolster Softeon's European presence, Softeon Chief Marketing Officer Dan Gimore said in an email.

The company also plans to continue developing products to meet rising customer demand for "autonomous WMS operations" that require little to no human intervention. According to Gilmore, such a system could handle include an array of tasks, such as optimizing labor planning and assignment, providing detailed real-time visibility to processing status across areas the DC, reducing the gap between theoretic and actual DC throughput, maximizing material handling system utilization, and automatically releasing work.

Other recent investments in the logistics tech sector made by Warburg Pincus include a $255 million stake in freight broker BlueGrace Logistics LLC, $150 million in funding for Chinese warehouse robotics provider Geek+, and a lead role in raising a $35 million finance round for logistics technology provider Cargomatic Inc.

Our partnership with Warburg Pincus will accelerate such efforts and I am thrilled to see the company enter its next growth phase. https://t.co/A3PeRWkGpt

— Softeon (@Softeon) October 17, 2019
Technology Warehousing (WMS & WCS & WES)
KEYWORDS Softeon Warburg Pincus
  • Related Articles

    Private equity firm buys minority stake in Uber Freight for $500 million

Benames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.

Recent Articles by Ben Ames

Amazon licenses walk-through store technology to retailers

Conveyor company fought time and weather to open new factory

Reimagining the TMS for the age of e-commerce

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • IBM survey says digitalization trends will sweep trucking industry by 2030

  • Gartner survey signals increased investment in resilience over the next two years

  • What Level of Automation is Right for Your Warehouse?

  • Growing up … and up and up: interview with Sam Bertram

  • Old Dominion adds nine freight service centers to handle business growth

Now Playing on DCV-TV

D92f0dd1 a98c 434a 9e17 30b63ee72c90

Automated Pack-out and Print-Apply System for thredUP

DCV-TV 4: Viewer Contributed
SilMan Industries designed and implemented a mixed polybag-carton system, including automated print and apply, in a new regional Fulfillment Center for thredUP, one of the world’s largest online resale platforms for women’s and kids’ apparel, shoes, and accessories. The Situation Secondhand clothing and online...

FEATURED WHITE PAPERS

  • Time to rethink your lift truck power

  • Warehouse Management System Project Toolkit

  • Solving Talent Management Challenges Now and In the Future

  • Shaping Up Last Mile Delivery to Surpass Customer Expectations

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing