Accel Partners invests $30M in Plex Systems

Accel Partners

, a Silicon Valley-based venture capital firm, is investing $30 million into manufacturing software maker Plex Systems.

The Troy-based firm was acquired by Francisco Partners, also of Silicon Valley, last summer. Plex Systems plans to use the new investment capital to create more product features for its software, improve customer service and expand its sales capabilities.

“You name it, we have initiatives,” says Mark Symonds, CEO of Plex Systems. “Growing at this rate things break and you rethink things from time to time.”

The 17-year-old company creates Cloud ERP software Plex Online, which helps industrial companies improve and streamline the manufacturing process from product quality management to supply chain management. Plex Systems employs 280 people after hiring 90 in 2012. Symonds expects to keep growing at that rate for the next year.

“Manufacturing is one of the largest markets in the U.S.,” Symonds says.

Source: Mark Symonds, CEO of Plex Systems
Writer: Jon Zemke

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