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Elementum, the world's first mobile platform for end-to-end supply chain management, emerges from stealth mode with more than $60M in funding and major customers.
MOUNTAIN VIEW, Calif., Feb. 4, 2014 /PRNewswire/ -- The distance between innovation and execution is about to get a whole lot shorter.
SUPPLY CHAIN MADE SIMPLE.
Today, Silicon Valley-based startup Elementum put its stake in the ground with a bold promise: to bring the world's supply chain data into the palm of your hand. With $44M in Series B funding from Lightspeed Venture Partners and Flextronics (NASDAQ:FLEX), along with brand name customers like Dyson, the company is poised to deliver. And it couldn't have come at a better time. With shorter product lifecycles and instant consumer feedback becoming the new norm, companies need to respond to changes faster than ever. How? With real-time visibility into their supply chain using beautiful, bite-sized apps for managing risk, monitoring KPIs, and tracking shipments-all in the cloud at one simple price.
"Supply chain management will never be the same-and that's a good thing."
- Nader Mikhail, CEO of Elementum
A MAN ON A MISSION.
Drawing upon his experience in supply chain and cloud computing, Nader Mikhail saw an opportunity for a simple solution to address the complex issues facing today's supply chains. The scope? A global economy worth over $70 trillion, of which a third is product. And with backing from one of the largest supply chains in the world, Elementum is the only pre-integrated mobile solution in the market. All customers have to do is download an app, log in, and go.
"If your supply chain is not real-time, mobile, and connected-I don't know how you'll run your supply chain in 5 years."
- Mike McNamara, CEO of Flextronics
IT LOOKS AS GOOD AS IT WORKS.
Wrapped in a user experience that's akin to the most popular apps today, Elementum offers simple and intuitive mobile software that you can actually use and understand. See exactly where every part, component, and finished good is manufactured, supplied, and distributed all over the world. It's really that simple. And under the hood lies a platform built from the ground-up using the latest in massively scalable big data technologies-like flexible schema databases, REST-based APIs, and Hadoop.
"Our quest at Dyson is to design a supply chain as efficient, reliable, and innovative as the products we deliver to our customers. We believe the connectivity, flexibility, and visibility Elementum can provide will help us greatly in fulfilling these objectives."
- Jim Rowan, COO of Dyson
EXECUTION AT THE SPEED OF INNOVATION.
We live in a world where software responds to consumer feedback and demand in almost instantaneous fashion. Now imagine one where any physical product can have that same reaction. Innovation would no longer be held hostage to the complex and pocket-draining process of today's supply chain systems. Finally, there's a technology that can bring speed and agility at a fraction of the cost. And it's all thanks to supply chain made simple.
JOIN THE MOVEMENT.
Elementum is hiring for a wide variety of talent at its Mountain View headquarters; check out its LinkedIn profile for more information.
Elementum makes supply chain simple. By bringing together the latest in big data, cloud, and mobile technologies, Elementum delivers accurate and real-time supply chain information, optimized for today's mobile workforce. Incubated by leading supply chain company Flextronics, Elementum enables a single world-wide repository of supply chain data, eliminating millions of dollars in license and service costs that OEMs must spend to integrate all of their supply chain partners. Elementum's customers include leading companies such as Dyson, Enphase Energy, and others in the automotive, healthcare, industrial, and technology sectors. For more information, visit www.elementum.com.
This press release contains forward-looking statements within the meaning of U.S. securities law. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. These risks include: the possibility that our services may not perform as expected, and the fact that the market for our services is still in the early stages of growth. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements in this press release are based on current expectations, and Elementum assumes no obligation to update these forward-looking statements.
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