Amitive (f.k.a. Mitrix) has expanded its Series A round from $4 million to $10 million. Return backers include CMEA Ventures and Logispring. In other company news, Amitive has named former SAP and i2 exec Amar Singh as CEO.
Mitrix, Inc. today made a series of announcements reinforcing its commitment to drive the new market for on-demand Community Supply Chain Management (C-SCM) solutions for virtual manufacturers. Mitrix changed its name to Amitive , effective immediately, and has named former SAP and i2 executive Amar Singh as president and Chief Executive Officer. Amitive also announced a $6 million extension of its A-round funding by CMEA Ventures and Logispring. The funding, which extends the $10 million invested in August 2006 , supports Amitive's commitment to deliver a new breed of SCM solutions through expanded sales, marketing and product development efforts.
According to an upcoming AMR Research report, the SCM market is estimated at $6.455 billion (The Supply Chain Management Market Sizing Report: 2007-2012, August 2008).
A 17-year industry veteran, Mr. Singh joins Amitive with a full range of supply chain management expertise, including executive leadership positions at SAP and i2, as well as real-world supply chain management experience at Procter & Gamble, Warner Lambert, Logictools and Bain & Company.
“There is a major functionality gap in traditional SCM solutions, which were designed for manufacturing-centric companies focused on optimizing manufacturing asset utilization. Today's virtual manufacturers outsource their manufacturing, and therefore must orchestrate a complex community of supply and manufacturing partners, while also keeping innovation and customer satisfaction front and center,” said Amar Singh, president and CEO, Amitive. “By providing customers with a practical, purpose-built, on-demand solution for this reality, Amitive is the only vendor delivering on a completely new vision for supply chain excellence.”
Prior to Amitive, Mr. Singh was a senior vice president at SAP, where he led global engineering for SAP's entire SCM, Product Lifecycle and Manufacturing solutions, managed the global product management organization for SCM, and served as the general manager of the RFID business unit. Mr. Singh was the founder and CEO of Simplexis, a SCM software company for the public sector. He graduated with a Mechanical Engineering degree from University of Ilorin , Nigeria , earned a Masters in Operations Research from University of Waterloo , Canada and completed an MBA at the Harvard Business School .
“With deep experience in all facets of the supply chain, Mr. Singh has not only led product development for global leaders in SCM software, but he has also walked in his customers' shoes,” said Jim Watson, Chairman of the Board of Amitive, and lead investor for CMEA. “As the market further progresses from manufacturing-centric to virtual manufacturing, we are confident in Mr. Singh's ability to continue the company's strong momentum in the industry, and deliver on the vision of a new breed of community-based supply chain management solutions.”
Amitive is pioneering a new class of software purpose-built for C-SCM . The Amitive suite is the only Software as a Service (SaaS) application designed specifically for today's virtual manufacturers within the new community-focused SCM model. Amitive u nifies cross-community business processes within a single , on-demand application , enabling supply chain professionals to collaborate with trading partners to plan, source, inventory and fulfill products