PINC Solutions Announces Series D Funding And Additions To Its Leadership Team
Released on: August 03, 2010, 5:07 am
Author:
PINC Solutions
Industry: Transportation & Logistics
The leader in supply chain asset visibility and yard
management solutions raises series D financing round and expands the
executive team to further accelerate its market leadership, growth, and
customer success.
BERKELEY, CA, August 3, 2010 - PINC Solutions, the leader in supply chain asset
visibility and yard management solutions, today announced a new round of financing
and additions to its management team. PINC’s series D financing was led by the
company’s previous investors Sutter Hill and Horizon Ventures to further accelerate
its market leadership, growth, and customer success. The company’s board of
directors also appointed Ken Colby as the new Chief Executive Officer. He assumes
the role previously held by Aleks Gollu, co-founder of the company. Dr. Gollu has
been appointed Chief Technology Officer, and will now focus his efforts on driving
further innovation for the company's best-in-class asset visibility solutions. The
new executive appointments are effective immediately.
“PINC Solutions has redefined the asset visibility and management space for the
Supply Chain Logistics industry with its innovative technology and value
proposition,” said Tench Coxe, managing partner at Sutter Hill Ventures. “The
company is poised for growth and success.”
Ken Colby has almost three decades of Software and Services Operations experience,
including more than 5 years as a President or General Manager, driving long-term
profitable growth and leading teams across the globe. Ken most recently served as
SVP of Global Operations for Smart Drive Systems where he oversaw the deployment of
an industry-leading solution for driver safety and fleet productivity. Through the
end of 2007, Ken held the position of President and General Manager of @Road, the
leading SaaS-based provider of mobile resource management solutions for commercial
fleets in North America. Ken delivered over $100 million in revenue and led the
company following its acquisition by Trimble Navigation, a worldwide provider of
advanced GPS solutions with operations in more than 100 countries. Prior to @Road,
Ken held executive level positions at Sybase, Oracle, Mincom and a number of
enterprise software providers. He served twelve years in the U.S. Navy and is a
graduate of the U.S. Naval Academy at Annapolis, Md where he holds a B.S. in
Engineering.
“This additional funding is a great vote of confidence in PINC’s vision of how
companies increase productivity, reduce operating costs, and gain competitive
advantage through visibility across the supply chain,” commented Aleks Gollu, PINC
Solutions’ co-founder and CTO. “Also, we are thrilled by the opportunity to work
alongside Ken. He brings more than 25 years of experience in the technology as well
as transportation sectors and has earned a reputation as a trusted and respected
leader. Ken is the right executive to move PINC into the next phase of its
evolution.”
“PINC Solutions is an innovative company with best-in-class products,
industry-leading customers, and a smart, determined team. We plan to use this
funding to invest even more heavily in ensuring the success of our customers and to
further accelerate our growth,” said Ken Colby, PINC’s new CEO. “For the past 6
years Aleks has done an outstanding job establishing PINC as the leader in its
segment. I’m very excited to be joining the company and have the opportunity to
build on its success.”
About PINC Solutions
PINC is a leading supplier of real-time asset visibility and management solutions,
with Fortune-500 customers in the manufacturing, retail and transportation sectors.
PINC has pioneered the development of cost-effective RTLS using passive RFID
technology that minimizes capital investment required in the infrastructure. PINC’s
award-winning products are designed with a scalable architecture for businesses of
any size, and are expandable with modular components as customers’ needs grow.
Available as turnkey solutions delivered through a Software-as-a-Service (SaaS)
model, these systems have proven their value through immediate efficiency
improvements in customers’ daily operations, typically generating positive ROIs in
less than a year. For more information please visit www.pincsolutions.com.
Media Contacts
PINC Solutions: Rafael Granato (press@pincsolutions.com, +1 510-845-4900)
###
Contact Details: press@pincsolutions.com
www.pincsolutions.com
P +1-510-845-4900
F +1-510-868-9091
2095 Rose Street
Berkeley, CA 94709
USA
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