US-based supply chain management software provider Steelwedge has raised $22.5m from investors including Shea Ventures, the corporate venturing vehicle for real estate developer JF Shea.
Private equity firm Camden Partners led the round, which also featured growth equity firm Mainsail Partners and Pervinder Johar, who recently took the chief executive position at Steelwedge.
Steelwedge produces cloud sales and operations planning software that helps businesses manage their supply chain networks. It will use the funding to advance product development and grow its customer service, sales and marketing capabilities.
The round took Steelwedge’s total funding to almost $52m, the company having raised $16m in a round led by Mainsail in 2011. It had previously received $13.2m in funding from backers including Jafco Ventures, Sigma Partners, Globespan Capital Partners and Omnia Ventures.