Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Fast-growing software and consulting company enVista LLC said it plans to pump millions of dollars into developing and improving supply-chain technology products and services to boost growth.
Carmel-based enVista announced Friday that it secured a $12 million growth-capital loan from Muncie-based First Merchants Bank to spend on the expansion.
enVista, founded in 2002 by CEO Jim Barnes and John Stitz, started as a two-person operation with first-year revenue of $1.4 million. It now has 626 employees worldwide, including 220 in Indiana. The company has increased its overall employment count by nearly 100 over the past two years.
The business had more than 1,000 customers and revenue of just under $100 million in 2018 when it was featured in an IBJ profile.
“enVista secured growth capital to be used to invest in our internal systems and platforms to support our strategic growth objectives, as well as used for organic growth and possible inorganic growth opportunities,” it said Friday in an email to IBJ. “Additionally, as enVista grows its top line we would anticipate continued growth on the number of employees both in the central Indiana area, nationally and in our global locations.”
EnVista said it recently expanded its sales leadership team and added new leadership companywide to foster growth. The firm said it will leverage the new funding “to accelerate development and strengthen capabilities across its cloud-native Enspire Commerce Platform that includes its omnichannel order management system and global freight audit and payment technology.”
enVista’s clients include retailers, distributors and manufacturers that need to solve for complex supply chain, information technology and omnichannel commerce challenges to improve profitability, gross margin returns on inventory investment, cost savings and customer service.
In 2015, enVista launched what it calls its Unified Commerce Platform—software that allows retailers to manage their in-store point-of-sale systems, e-commerce, inventory and customer information from a single platform.
“We are delivering exceptional supply chain, IT and commerce results and shareholder value at a time when the market needs it most,” enVista Chief Financial Officer Michelle Demarco said in a written statement.
Please enable JavaScript to view this content.