Global trade management solutions provider Amber Road has announced that Goldman, Sachs & Co. has invested an undisclosed amount in the company. Additionally, Gene Yoon, a managing director at Goldman, Sachs has joined Amber Roads' Board of Directors.
"Our strong revenue growth and sharp increase in deal size over the past several years show that global trade management has become a mainstream application," said Jim Preuninger, CEO of Amber Road. "We plan to use the funds from Goldman to make a strategic acquisition to expand our product portfolio and further distance ourselves from the competition."
As global trade volumes increase, organizations are looking for ways to reduce global supply chain costs and shorten cycle times. Amber Road says its solutions simplify the financing, sourcing and transporting of goods across international borders. Its software automates import and export processes, provides global order and shipment visibility, calculates duties, tariffs and taxes, and ensures regulatory compliance.
"Collectively, companies have already spent billions of dollars improving processes and deploying technologies to optimize their domestic supply chains," said Yoon. "Senior executives are now realizing the opportunity for cost savings and competitive advantage in the global supply chain. With many of the largest companies in the world using its software today, Amber Road is well positioned to take advantage of this opportunity. We believe Amber Road is an excellent investment."
Source: Amber Road
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