CBX Software Announces $10 Million Series A Funding from Baring Private Equity Asia to Expand Global Outreach
Strategic Investment accelerates the growth of CBX Software's product development, sourcing, quality and compliance management platform
SAN DIEGO, May 11, 2022 (Newswire.com) - CBX Software, the leading Extended Product Life Cycle Management platform provider, has closed on its first institutional investment in partnership with Baring Private Equity Asia (BPEA). CBX will maintain its majority controlling interest while taking on a significant minority investment from BPEA. Today's rapidly evolving market demands agile software solutions, and this partnership will bring CBX Software to a wider audience. This investment will also accelerate the growth of CBX through both organic business development and future retail supply chain technology company acquisitions.
The partnership with BPEA will help CBX enter its next phase of growth that includes strategic acquisitions, geographic expansion and product development slated to open new industry segments - all to further enhance the services provided to its growing customer base and to give them an edge over industry competition.
CBX Software Founder and CEO Michael Hung said, "We are excited to partner with BPEA, which has 25 years of experience in developing and growing companies, a strong Asian presence and a global network. This strategic partnership will help CBX Software to expand its offerings and scale its business across the globe."
Since the initial release of CBX Cloud in 2013, CBX Software has spearheaded the innovation of an integrated platform that helps retailers and brands streamline their global operations from product development and sourcing to production, quality and compliance. CBX Cloud enables leading retailers and brands to digitize their supply chains for greater efficiency, transparency and sustainability.
"We view CBX as the best-in-class platform for total sourcing management in today's dynamic and challenging retail environment," commented BPEA Managing Director Gordon Shaw. "With an exceptional founder-led team, a portfolio of top-tier retail customers, and a strong global footprint, we believe that CBX is in a great position to build on its past successes and establish its position as a dominant international player in the space. We aim to leverage our footprint and cross-border capabilities to further enhance the CBX client portfolio and help drive expanded market presence."
For more information on CBX Software, please visit https://www.cbxsoftware.com/solutions.
Baring Private Equity Asia (BPEA) is one of Asia's largest private alternative investment firms, with assets under management of over USD 37 billion. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 25-year history and over 210 employees located across 10 offices in Beijing, Delhi, Hong Kong, London Los Angeles, Mumbai, Singapore, Shanghai, Sydney and Tokyo. BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance. For more information, please visit www.bpeasia.com.
About CBX Software
CBX Software is the world's leading extended product lifecycle management solution provider from concept to delivery - combining people, processes and solutions. CBX helps retailers and brands streamline product development and sourcing all the way through order, production and delivery. Through innovative Sourcing Management, Product Life-cycle Management (PLM), and Production & Order Management technology solutions, CBX empowers the supply chain network by driving collaboration to over 15,000 retail & supplier partners, and 30,000 users in more than 50 countries. For more information, visit www.cbxsoftware.com.
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Source: CBX Software