Original article by Mike Freeman was featured in the San Diego Tribute: source link
The investment from Morgan Stanley Expansion Capital will help compliance software firm CMX expand
CMX, a San Diego software startup that helps big food brands such as Burger King and Chick-fil-A manage risk, safety and quality compliance for their operations and supply chains, has raised $50 million in a Series A round of venture capital funding.
Founded in 2009, the company plans to use the equity investment from Morgan Stanley Expansion Capital to accelerate growth, adding up to 20 workers to its current 38-employee staff over the next 18 months or so.
“We are going to make investments in really all areas of our business, from research and development to customer success,” said Mitch Porche, founder and chief executive of CMX. “So that means continuing to drive innovation, round out our services, and of course invest in sales and marketing.”
The subscription software firm has been self-funded up to now. It focuses on enterprise supply chain and operational compliance software targeting the food and hospitality industries — a market overlooked by big tech outfits...
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