Boosting Manufacturing Efficiency: Parsec Receives Strategic Investment from BVP Forge

In a major recapitalization move, Parsec Automation Corp, a trailblazer in Manufacturing Operations Management (MOM) software, has announced a strategic investment from BVP Forge. The investment is aimed at accelerating manufacturing operations management for enterprises and fueling future growth.

Parsec is known for its TrakSYS™ software platform, which revolutionizes manufacturing operations by providing users with enhanced visibility, profound insights, and superior control. With its trusted position in thousands of factories worldwide, TrakSYS serves a wide range of sectors, including automotive, chemical, food & beverage, life sciences, and packaged goods. Parsec has an impressive roster of clients, including industry giants like AB InBev, AkzoNobel, AstraZeneca, Beiersdorf, DuPont, Johnson & Johnson, and Eli Lilly.

Eddy Azad, the founder & CEO of Parsec, expressed his excitement about the partnership with BVP Forge, stating that it will expedite their vision and enhance customer impact. With BVP Forge's extensive resources and expertise, Parsec aims to redefine what's possible in manufacturing operations management.

BVP Forge, known for its business building program ForgeEdge™, will play a crucial role in helping Parsec scale its platform, accelerate growth, and maximize customer impact. Additionally, Parsec will gain access to the growth IP, talent network, and roadmap insights of Bessemer Venture Partners, which has a wealth of experience in scaling enterprise companies.

Gartner, a leading research and advisory company, has recognized Parsec's TrakSYS as the highest-ranked Manufacturing Execution System (MES) vendor in three out of four use cases: Continuous Process Manufacturing, Batch/Repetitive Flow Manufacturing, and Highly Regulated Industries. This recognition further solidifies Parsec's position as an industry leader and highlights the effectiveness of their software platform.

Brian Cramer, BVP Forge Operating Partner, commended Parsec's unique technology, customer impact, and track record of profitable growth. BVP Forge believes that there is a clear and compelling opportunity to accelerate Parsec's success and build upon its vision. The partnership aims to leverage the increasing digitalization trend among manufacturers and provide them with the high-quality data necessary for optimizing their operations.

Rob Arditi, BVP Forge Partner, emphasized the mission criticality and core value proposition of Parsec. He highlighted Parsec's high customer satisfaction, strong retention, and superior product platform as evidence of its success. BVP Forge is thrilled to partner with Parsec and contribute to the realization of its vision.

The strategic investment from BVP Forge marks a significant milestone for Parsec Automation Corp. As the company continues to disrupt the market with its innovative MOM software, the partnership with BVP Forge will undoubtedly propel its growth and impact in the manufacturing industry.

About Parsec Automation Corp:

Parsec Automation Corp is the developer of TrakSYS, a proven operations management software application and solution platform designed to significantly improve manufacturing processes. With thousands of TrakSYS plants around the globe in various industries, Parsec helps manufacturers maximize asset utilization, increase capacity, reduce production costs, decrease lead time, and improve profitability. For more information about Parsec and TrakSYS, please visit the corporate website at https://parsec-corp.com.

About BVP Forge:

BVP Forge is a unique combination of a private equity firm for growth-oriented, self-sustaining software-enabled businesses and Bessemer Venture Partners' global venture capital platform. BVP Forge provides tailored resources and operational programs to mission-driven teams, enabling them to build winning cultures and businesses that withstand the test of time. With a $780M fund and a partnership with the $20B Bessemer platform, BVP Forge has a successful track record of backing industry-defining businesses. For more information about BVP Forge, please visit https://www.bvp.com/forge.