Centric Software Secures $7.5 Million in Series C Financing

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Investment underlines Centric PLM leadership in apparel, fast-moving consumer goods industries --

Centric Software PLM for apparel and consumer goods companies.

We are excited about the market opportunity to extend our PLM product leadership for fast moving consumer goods companies, and to expand our corporate presence in the luxury and fashion centers of North America and Europe.

Centric Software, Inc., has closed on $7.5 million in Series C venture capital financing.

Oak Investment Partners (Palo Alto, Calif.) led the funding round, with Masthead Venture Partners (Cambridge, Mass.) and ABS Ventures (Waltham, Mass.) also participating.

Centric, a leading provider of product lifecycle management (PLM) for makers of hard and/or soft lines in the fashion and consumer goods industries, will use the additional financing to fuel ongoing product and business development efforts, according to Chris Groves, president and CEO. Chief among these are the development of additional mobile apps for PLM, continued focus on the luxury fashion sector, and expansion of Centric’s presence—through dedicated resources and subsidiaries—in the United Kingdom, France, Italy and New York.

Centric recently introduced the Centric 8 Collection Book for Fashion iPad App, an interactive, patent-pending mobile app to audiences in Paris and New York. The app replaces error-prone paper systems and directly links data from the Centric 8 PLM system to customers through an interactive mobile device, thereby allowing fashion houses and designers to present their collections to buyers significantly faster and more accurately.

The mobile app market, PLM market and luxury sector continue on a path of rapid growth, says Groves, and Centric has generated significant momentum in all three areas. “We are excited about the market opportunity to extend our PLM product leadership for fast moving consumer goods companies, and to expand our corporate presence in the luxury and fashion centers of North America and Europe.”

“Centric has proven that its Centric 8 application suite is unique and compelling in the fashion and consumer goods markets,” says Bandel Carano, managing partner at Oak Investment Partners. “The opportunity now to add more mobile applications to the Centric 8 PLM footprint represents an explosive growth opportunity—one which we at Oak find compelling.”

Centric Software, Inc. (http://www.centricsoftware.com)
Centric Software is a leading provider of product lifecycle management (PLM) solutions for makers of hard and/or soft lines in the fashion and consumer goods industries. Centric 8 delivers easy-to-use functionality to manage critical, inseparable business processes, including product development, sourcing, line planning and profitability management, through a modularized system that implements and delivers value rapidly.

With Centric 8, companies are able to cut costs and inefficiency, speed new products to market, drive margin improvement, and improve global collaboration and compliance. Global enterprises including INTERSPORT France, Christine Laure, Balenciaga, The Coleman Companies, KlimUSA, Bass Pro Shops, Bravo Sports, Longchamp, Silver Jeans and United Stationers use Centric solutions to achieve revenue growth, reduce costs and deliver trend-right products to their customers.

Centric is a registered trademark of Centric Software. All other brands and product names may be trademarks of their respective owners.

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Mary Nowak
Talking Points Professionals
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Fabrice Canonge
Centric Software
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