WorldChain Pushing Internet-Based Solution For Manufacturers

Expect to be hearing more about WorldChain Inc., a Santa Clara, Calif.-based value-chain-solutions company that recently completed $10.2 million in first-round financing. The company, which sells a Web-based value-chain-integration system, says it will use the money "to expand cross-functional teams and accelerate the market adoption" of its product. According to a company press release, founder Reynaldo Gil determined that supply-chain-management solutions available today are inadequate for manufacturing companies, which are forced to build their own solutions through use of software and IT resources. In 1999 Gil founded WorldChain with the goal of developing a solution that could be managed as a hosted Internet service and rapidly deployed it to all chain participants. The round was co-led by Advanced Technology Ventures and Bessemer Venture Partners and included funding from three other firms. "Securing blue-chip investors such as Advanced Technology Ventures, Bessemer Venture Partners, and Ridgewood Capital confirms that our solution and marketing strategy are on target," says Larry Miller, president and CEO of WorldChain.