CONCORD, MA, aPriori, a provider of product cost management software solutions, today announced $5 million in new venture capital from the existing Sigma Partners investor. The funding announcement follows the record results for the 2012 fiscal year ended April 30.
The funding will be used to expand the sales and service teams of the company in Europe and accelerate the development of its sales channel in the Asia-Pacific region. APriori will also continue to invest in expanding its costing capabilities for expert cost engineers and sourcing staff and expand best practices within its professional service organization to help customers maximize value from their investment in aPriori.
The company will also fund and launch a new Supplier Network initiative. It addresses the strong demand from suppliers in the automotive, aerospace and industrial machinery industries for a costing solution that enables quick and accurate quota generation. These suppliers seek to integrate the aPriori quota generator into existing aPriori deployments with their major discrete manufacturing customers. This strategy helps suppliers respond more quickly to quotation requests, scale up their businesses and effectively establish themselves as the preferred vendor for future businesses.
“We’ve just completed a great year and we see a tremendous opportunity in the US, European and Asia-Pacific markets right now,” said Stephanie Feraday, President and CEO of aPriori. “This funding enables us to build on the success of the last two years to capitalize on these opportunities and to make aPriori the product cost standard for discreet manufacturers. “That’s right.
About the Priori
APriori software and services generate hard-dollar cost savings for discreet manufacturing and product innovation companies Using aPriori’s real-time product cost assessments, engineering, procurement and manufacturing employees make more informed choices that drive costs out of pre-and post-production products. With aPriori, manufacturers are launching products at cost targets, maximizing savings in rework projects and never overpaying the sourced parts.
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