Company Profile | ||
GlobalWare Solutions Answers An On-Demand World |
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After 24 years, this Massachusetts company has finally raised its first VC round and will spend it dominating the world of supply-chain management | When a company earns a first round
of funding more than two decades after launch, it's getting long-overdue recognition. And
when that first round is for $30 million, with an
additional $100 million to draw on if all goes
well, the wait was probably worth it. |
To work effectively, clients must give
GlobalWare master copies of all the
documents, software, and other peripherals that might need to be shipped to customers.
After studying them, GlobalWare integrates this information with its software tools so it
can help meet the needs of customers, even if the exact product ordered isn't available. |
James Bartlett, CEO GlobalWare Solutions |
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FAST FACTS Business |
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GlobalWare is also looking to
acquire smaller competitors to make itself a larger name in its space. That was the
motivation behind the company's recent funding
round, most of which will be used for future purchases.
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"The hallmark of our investing style is
to go with guys who have been in the industry a long time, proven their ability to build a
business to a certain level, and need capital to take it to the next level," Jay said. "Given
that, there's not a real set number on our investment, and in GlobalWare's case, we can
go much bigger, and it wouldn't be a challenge for us."
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"They had boot-strapped themselves to this point and now have steady, significant revenue growth." Hugh Taylor, managing director, Newbury Piret & Co. |
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GlobalWare's unique position as a
24-year-old veteran also led it to look for a
slightly different type of investor. Instead of a
traditional VC firm, it turned to Mezzanine Management, a private equity company that specializes in mid- to late-stage companies in
the middle market. Based in London, Mezzanine makes investments on both continents
and holds equity in companies similar to GlobalWare in Europe. That connection
was particularly attractive for GlobalWare, as Mezzanine can help it to make partnerships
or acquisitions to grow the company's European operation.
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documentation it currently
ships to consumers. Customers could someday get manuals and instructions via e-mail or at
a Web location, which would cut down on shipping costs for GlobalWare and its clients.
Also, people tired of having drawers full of
ragged instruction booklets would be able to
easily store manuals on their desktops or in
system folders.
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Shipping on-demand in GlobalWare's Massachusetts headquarters | ||
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