Specright, a Tustin CA-based provider of Specification Management software, raised $30M in Series B funding.
The round was led by Sageview Capital, with participation from VMG Catalyst, Pritzker Venture Capital Group, Okapi Venture Capital, Fika Ventures, and Mucker Capital. In conjunction with the funding, Scott Stuart, Managing Partner and Co-Founder of Sageview, will join Specright’s board.
The company intends to use the funds to double its headcount by early 2022 and expand operations globally as the leader in Specification Management software.
Led by founder and CEO Matthew Wright, Specright provides cloud-based Specification Management software that manages and shares supply chain data across suppliers, manufacturers, and retailers. The platform enables companies across a wide variety of industries to digitize specification data that typically lives in spreadsheets or PDFs, such as raw material, ingredients, formulas, packaging, product, and machinery specifications. The company’s patented data framework enables SKU consolidation and visibility into the relationships of different specifications across an organization. Once specifications are digitized in the platform, customers can share specs with colleagues, suppliers, and other critical partners like retailers or co-manufacturers.