The minority investment will be used to fund numerous technology development and growth initiatives, and Goldman Sachs will have one seat on LLamasoft’s board as part of the investment, the IT company said Tuesday.
“The capital will help us accelerate our innovation and enable us to better partner with our clients on new business solutions. Goldman Sachs’ business experience will also provide professional guidance and strategy for our continued growth,” said Dan Hicks, Llamasoft’s chief executive officer, in a statement.
“We have been impressed by the number and scale of global organizations that have successfully deployed LLamasoft to date, particularly given the very limited use of outside capital,” added Jason Kreuziger, vice president in the Merchant Banking Division of Goldman Sachs.
LLamasoft in April acquired a suite of IBM's supply chain products, including LogicTools, which helps companies manage transportation routing, inventory flow and facility location, for an undisclosed amount. The company said at the time it had also purchased the related technology and support teams.