Optilogic Defies Market Dynamics to Secure New Funding and Investment Partners

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Sep 13, 2023, 09:45 ET

With Funding Led by Augment Ventures and Joined by Beringea, Optilogic Advances SaaS Supply Chain Network Design Innovation and Drives Rapid Growth

ANN ARBOR, Mich., Sept. 13, 2023 /PRNewswire/ -- Supply chain network design software innovator, Optilogic, has secured funding from new partners Augment Ventures and Beringea and existing investors MK Capital and Multiverse Investments. The funding supports Optilogic's rapid growth and makes a new era of supply chain design a reality with industry-exclusive features in its Cosmic Frog platform that enable companies to:

Optilogic Defies Market Dynamics to Secure New Funding and Investment Partners

Automatically compare hundreds of future-state supply chain scenarios to select the most resilient designs
Implement incremental strategic supply chain changes on realistic timelines
Develop action plans to reduce the impact of supply chain disruptions
Design supply chains that balance cost, service, risk, and sustainability

Pressures of persistent economic and political uncertainty expose the weaknesses of traditional supply chain network design technologies that are slow, require costly capital and IT investment, and have lengthy implementation processes.

One-hundred percent SaaS-based Cosmic Frog network optimization runs 40% faster than competitor solutions, is accessible from anywhere, and uses hyperscaling technology to allow hundreds of models and scenarios to run in parallel on enterprise-scale computing resources.

"We are backing the vision of Don Hicks and his team to make supply chain design and optimization empower all functions across an organization," said Sonali Vijayavargiya, founder and managing partner of Augment Ventures, which invests in technology companies that are transforming traditional industries. "We believe Optilogic's cloud-native approach provides customers unmatched power, speed, and scalability. In addition, the platform goes beyond the competition by layering risk ratings to its optimization and simulation engines."

"The Optilogic team has developed an impressive cloud solution, one that moves the industry forward in ways that are unique and differentiated from competitors and incumbents," noted Ben Bernstein, principal at Beringea, a transatlantic venture capital investor which supports rapidly scaling entrepreneurial companies. "We are excited to back a team from our home state that has had proven success before. We look forward to helping the company realize their vision and scale the business in a way that allows their customers to design optimized supply chain systems with a superior user experience."

Optilogic CEO and Founder, Donald A. Hicks, sees this funding as a significant step in the company's growth. "This new investment partnership recognizes the critical nature of the technology we're building: Optilogic gives any company the ability to envision and design a future supply chain without having to stumble into it. To not just reach the 'efficiency curve' of the current supply chain, but to shift the entire curve."

About Optilogic

Optilogic offers cloud-native supply chain design solutions that enable businesses to evaluate trade-offs across financial performance, service levels, and systemic risk to design resilient supply chains even in the most dynamic, challenging environments. Its Cosmic Frog supply chain design solution tackles enterprise data at scale, runs models faster than ever, automatically converts legacy models, and requires no IT footprint. Cosmic Frog is the only supply chain design platform to combine optimization, simulation, and risk engines, and includes a risk rating on every scenario. Solutions include network design, intelligent greenfield analysis and site selection, M&A analysis, near-shoring/reshoring, CapEx planning, cost-to-serve, product flow, and many more. Stay in touch with Optilogic on LinkedIn, Twitter, Facebook, and YouTube and visit www.Optilogic.com.

Press Contact:

Jennifer Randall
218-341-1318
http://www.optilogic.com

SOURCE Optilogic