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RealTime IT News

Celarix Snaps Up $17M

Celarix, a Cambridge, Mass., provider of supply chain management software, has raised $17 million in financing for operations and product development.

The privately held company also said it expects to reach break-even in the next six months.

Austin Ventures lead the round. Previous backers Charles River Ventures, JP Morgan Partners, TL Ventures, Integral Capital Partners and Technology Crossover Ventures also participated. In all, the company has raised $75 million since it was founded in 1998.

"Our decision to lead this investment was based largely on the rapid growth of the supply chain event management space, the differentiated positioning of the company as a network-based solution provider, the company's progress with existing customers and its proven success with new customers," said Ross Cockrell, of Austin Ventures.

Celarix targets its software and services to Global 2000 companies. Customers include Agilent Technologies, Sharp Electronics, Lowe's, Abercrombie & Fitch, and TruServ.