Icix, a US-based supply chain risk management platform backed by conglomerate Wesfarmers, has received $15.5m in funding from private equity firm Arrowroot Capital.
Founded in 2004, Icix provides software dubbed Active Transparency that facilitates supply chain risk and compliance management. The company focuses on retailers and manufacturers, claiming to have more than 20,000 businesses in its network.
The investment will enable Icix to expand further, though details about its plans have not been disclosed. Wesfarmers supported its $25m funding round in 2014, alongside Vertical Venture Partners and existing backers Draper Fisher Jurvetson and Starfish Ventures.
Icix has not revealed details about previous funding, though deals database CrunchBase puts the company’s total equity at approximately $74.7m while fellow deals database Pitchbook states it has raised $65.5m.
David Marchand, chief executive of Icix, said: “We are excited to partner with Arrowroot and benefit from their expertise in fueling growth in software-as-a-service companies like Icix.
“Our customer-centric model and the latest release of our cutting-edge Active Transparency platform have driven record growth. We will focus this investment on further innovation to continue to deliver increased value to our customers.”