Reuters: Private Equity: Manufacturing software from Kenandy gets upgrade

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Manufacturing software from Kenandy gets upgrade May 1st 2012, 15:55 SAN FRANCISCO | Tue May 1, 2012 11:55am EDT SAN FRANCISCO May 1 (Reuters) - Supply-chain software company Kenandy will launch its new product later this week at Salesforce.com's Cloudforce conference, underscoring the appetite for cloud-based products in all corners of business. Because they are generally fairly inexpensive, cloud-based products allow smaller companies access to tools that had previously been available only to larger competitors, making it easier for start-ups to encroach on big-company turf. In addition, Kenandy may raise more cash at the end of the year, said Chief Executive Sandra Kurtzig in a phone interview. The company raised $10.5 million last year from venture firm Kleiner Perkins Caufield & Byers, Salesforce, law firm Wilson Sonsini Goodrich & Rosati, and others. Kenandy, whose existing Social ERP product had allowed businesses to track orders and manufacturing, has added features to the 2.0 version including invoicing, accounts receivables, and employee expense accounts, said Kurtzig, who founded previous-generation manufacturing-software company ASK Corp in the 1970s. The company is aiming at mid-tier businesses with revenue in the $12 million-$400 million range who have outgrown simple spreadsheets and software, but aren't quite ready for the expense and challenge of software from players like SAP and Oracle. Cloud-based software runs offsite, so the company using it doesn't have to build and maintain the servers that host it. Software updates are automatic. By contrast, traditional software generally requires technicians to push through updates and more tweaking as a result of the updates. The Kenandy product is built on the back of the ubiquitous Force.com platform built by Salesforce.com, the customer-relations software giant. Link this Share this Digg this Email Reprints

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