Unleashed Software, the Auckland-based inventory management Software-as-a-Service (SaaS) provider, has announced a Series C investment of NZ$7.0 million from Movac, New Zealand’s largest and most experienced technology investment company.
Of the recent investment success, CEO of Unleashed Software Gareth Berry comments: “We have been building our core product and markets for eight years now and the markets around the globe are really starting to embrace cloud based applications. We can see the amazing traction for ‘best in class’ systems like Unleashed being adopted around the globe now, and we are truly grateful to be the system of record that is powering these amazing wholesale, distribution and manufacturing businesses.”
Globally, Unleashed estimates there are over 5 million wholesaler-distributors and manufacturers that they could be the ‘system of record’ for. Their customers have been very supportive on this journey, with many of whom now compete competitively on a global scale with our ‘best in class’ inventory management and manufacturing system.
“The adoption of cloud based systems on a global scale is only just starting to take off,” says Gareth. “New Zealand and Australian markets have been early adopters of cloud based software solutions, however, we also see big opportunities in the United Kingdom and the United States markets where businesses are starting to migrate and adopt best-in-breed component solutions to run their businesses. This presents an amazing opportunity for us, with a substantial amount of growth in our businesses forecast to come from the Northern Hemisphere over the next few years.”
The investment funds will go towards fuelling the development of the next generation inventory management software and support the global growth of the company that now services customers in over 88 countries in the wholesale, distribution and manufacturing sectors.