iCiX, a Web-based supply chain management (SCM) specialist, announced this week that it has received $6 million in additional funding to fuel its expansion.
The private company received the $6 million in Series B financing from lead investor Draper Fisher Jurvetson, which backs early-stage ventures, with participation from Starfish Ventures, another venture capital company.
iCiX officials said they plan to use the infusion to fuel product development efforts, bolster sales and marketing, and expand the company’s reach across the supply chain. iCiX was founded in 2003 with the mission of using the Internet to allow supply chain trading partners to share information and documents broadly related to mitigating supply chain risk. Its customer base draws heavily from the food and beverage and toy sectors.
Manufacturers, retailers, distributors, and other parties connected to the iCiX network can manage an array of supply chain documentation, including information related to recalls, corrective actions, organic and other certifications, product test results, financial reports, and other SCM-related information.