Toronto-based company Nulogy, which provides software solutions for supply chain collaboration, has raised $20 million CAD.
The funding comprises a contribution from Export Development Canada (EDC) and “incremental working capital” from a Tier 1 Canadian bank, which is not named.
Nulogy claims its platform allows different companies in a supply chain to work together in “near real-time.”
According to Nulogy, this new funding will be used “to accelerate the growth” of its multi-enterprise supply chain platform and solutions.” The company did not specify how or the areas it’s looking to grow in.
EDC and Nulogy also entered a strategic partnership as part of this funding. EDC will support Nulogy through its financial solutions, trade knowledge, and global networks, which the government agency claims will provide Nulogy with more momentum as it expands to new markets.
Founded in 2002, Nulogy aims to bring transparency and visibility into the supply chain by allowing suppliers, manufacturers, and distributors to collaborate on one platform. Nulogy claims its platform allows these different companies to work together in “near real-time” to monitor and manage orders, respond to changing conditions, cut costs, and “increase the quality and efficiency of their supply chain operations.”
Nulogy noted that over 100 companies across more than 20 countries use its platform. Among those that have used Nulogy’s software solutions include Kellogg’s, DHL, Colgate-Palmolive, as well as Nestle Purina Petcare.
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Headquartered in Toronto, Nulogy also has operations in the United States and the United Kingdom. It launched its platform in Australia in 2010. The company is led by Jason Tham (CEO), who co-founded Nulogy alongside Kevin Wong (COO) and (CTO) Jason Yuen.
Nulogy has completed a number of funding rounds in the past. In 2014, it raised $7.5 million in growth financing from Red Sky Capital. The company also received $14 million from Tola Capital in 2016.
Operating in a competitive market, Nulogy sued former client Menasha in 2020, alleging it misappropriated Nulogy’s trade secrets, broke a software license agreement, and developed a supply chain software similar to Nulogy’s. Wisconsin-based Menasha then filed a motion to dismiss the case, which was granted in 2022. Tham told BetaKit that the case remains ongoing, however, in both Canada and the United States as it goes through an appeals process.
UPDATE 03/04/2023: This article has been updated based on new information shared by Nulogy that its case against Menasha is in the appeal process.
Featured image courtesy Unsplash.