December 3, 2007 – Serus Corp., a provider of technology and managed services for companies with distributed or outsourced manufacturing operations, says it has received a $2M investment from Samsung Ventures, to be used to “expand international opportunities,” particularly in Asia, where it has an office in Bangalore, India.
“It is not often that one finds an investment opportunity that has significant financial upside while also gaining access to strategic technology that will greatly benefit our portfolio companies and internal manufacturing sites,” said Bill Byun, managing director of Samsung Ventures, in a statement. “We have been tracking Serus’ progress over the last two years and have been impressed by their accomplishments and customer testimonials.”
The company closed an $8M round of Series C funding in July, and just launched a new version of its flagship product, Intelligent Operations Management, an integrated end-to-end, workflow-based manufacturing operations management software with analytics that lets companies track, manage, and value inventory at trading partners. Familiar companies among its roster of customers include AMD, Spansion, Fujitsu, and ISSI.
For Serus, the strategic partnership with Samsung “validates the importance of our solution for companies that embrace outsourced manufacturing,” stated Indu Navar, founder and CEO.