Centric Software, a US-based developer of software for the retail industry, has raised $24m in a series D round co-led by Fung Capital, the private equity partnership affiliated with supply chain company Li & FungGroup.
Silver Lake Waterman, the growth capital unit of private equity firm Silver Lake, co-led the round. Venture capital firms Oak Investment Partners and Masthead Venture Partners also took part.
Centric helps fashion, apparel and lifestyle brands to market through a product lifestyle management software suite. Its clients include Louboutin and Nike. The funding will be used to support expansion into the Chinese market.
Chris Groves, CEO of Centric Software, said: “Investment from such highly respected investors, combined with the sustained commitment of our existing investors, is an exciting validation of our vision and opportunities.
“Centric is ready for the challenges of geographic expansion and providing unmatched business value to retail, apparel and consumer goods customers globally.”
The company has now raised approximately $83m since it ws founded in 1993, according to press releases and SEC filings.