The supply chain software vendor Cofactr today said it has raised $17 million from Bain Capital Ventures to scale up its product, a supply chain and logistics management platform that streamlines production, processes, and policies for critical hardware manufacturers.
The “series A” round was led by Bain and included additional participation from Y Combinator, Floating Point Ventures, Broom, and DNX. The new investment brings Cofactr’s total funding to $28.8 million.
The New York-based company said it will use the funding to scale up its go-to-market efforts and grow its suite of supply chain risk management and process tools. The company plans to introduce additional product categories, with multiple applications slated to launch each year.
Cofactr says its product is a supply chain management platform that eliminates compliance and operational roadblocks for manufacturers that need to move fast on high- velocity projects. That platform is currently in use by more than 50 companies, spanning a mix of hardware manufacturers and R&D groups at digital enterprises with plans to diversify into hardware products. These customers span both high-compliance sectors—such as aerospace, defense, robotics and medical technology—and consumer-facing industries, such as autonomous vehicles and wearables.
