Dynadec Corporation, a Providence, R.I.-based developer of next-generation business decision optimization solutions that enable enterprises to solve their most challenging and complex operational problems, completed a $2m Series A financing.
Liberty Capital Partners led the round, with the Slater Technology Fund participating with a commitment of $350,000 funding.
The company, which was founded in 2007 as a spin out of Brown University’s Optimization Laboratory by optimization expert Pascal Van Hentenryck, provides solutions based upon its patented software platform, Comet™, to solve complex operational challenges in different areas, including logistics, scheduling, and supply chain optimization, and delivers significant ROI by improving efficiency and decision making.
Commenting on the round, James S. Gladney, Managing Partner of Liberty Capital Partners, said: “We provided the initial funding for Dynadec and have participated in this follow-on round because we believe that Pascal and his team have created a technology that has enormous operating leverage.
“It enables companies to solve complex logistical problems that are otherwise unsolvable, thereby creating huge cost savings at minimal expense. The value proposition is obvious and utilization of this technology will be widespread”.
“It enables companies to solve complex logistical problems that are otherwise unsolvable, thereby creating huge cost savings at minimal expense. The value proposition is obvious and utilization of this technology will be widespread”.
Dynadec, which has offices in Louvain-La-Neuve, Belgium, has licensed its software and solutions to a growing number of customers around the world.
FinSMEs
12/01/2010