Toronto supplier of contract packaging software systems Nulogy has received a $14 million investment, led by Tola Capital, a Seattle-based venture capital firm specializing in next-generation enterprise software companies.
Tola Capital Investment Manager Aaron Fleishman will be joining Nulogy’s Board of Directors.
Nulogy builds cloud-based enterprise software, such as its PackManager product, that provides companies an end-to-end management solution within a warehouse, distribution centre, inventory management and in-transit environment.
“We have always focused on purpose-built solutions for this market, which has been underserved by enterprise software providers for a long time,” said Nulogy CEO Jason Tham. “We couldn’t be happier to have Tola’s team and network join us, as Tola’s unique long-term investment philosophy aligns very well with our values. The Tola investment is a signal to our global customer base and the market that we are here to be long-term partners poised to deliver unprecedented value, and to further accelerate our investment in technology and services to make our customers even more successful.”
Nulogy was founded founded in 2002 by four University of Waterloo graduates, who pioneered the automation of a highly complex part of the supply chain, which research firm Gartner believes contains an extra $10 billion in annual revenue.
“Nulogy serves a tremendous need within the supply chain,” said Tola Capital Managing Director Sheila Gulati. “As a global leader in its category, Nulogy enables the network of brands, contract packagers and manufacturers with software and data to launch and promote products more efficiently. Nulogy has established a unique position in the market by creating a solution that drives operational efficiency, provides analytics, and enables faster speed to market for brands and their supplier networks. At Tola, we believe in building enduring enterprise software businesses. We are proud to partner with the Nulogy team.”
A broad range of consumer products, including food & beverage, consumer goods, pharmaceutical, high-tech, and hard goods, are processed in the supply chains of Fortune 100 companies using Nulogy software each day, resulting in reduced costs, enhanced customer service, improved compliance and quality, and increased revenues.
In October 2014, Nulogy raised a $7.5 million round of funding led by Red Sky Capital Management, with participation from CI Investment and the Silicon Valley Bank.