rfXcel, a San Ramon, CA-based provider of track and trace and regulatory compliance solutions, raised $30m in funding.
The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an alternative investment firm managing over $25 billion in assets. In conjunction with the funding, Leon Chen, Managing Director of Kayne Partners, will join rfXcel’s board of directors.
The company plans to use the funds to accelerate the delivery of innovative supply chain solutions, increase resources to extend its Internet of Things partnership with Verizon; and expand its global geographical presence in the Americas, Europe, Middle East and Asia Pacific.
Founded in 2003 by Glenn Abood, CEO, rfXcel provides life sciences customers with SaaS based track and trace solutions to protect patients and meet their compliance needs while getting insights and visibility into their supply chain.