News from the Region

News

Roar! Raleigh software firm Corevist raises $2.8M from Jurassic Capital

RALEIGH – Corevist, which develops and sells a B2B e-commerce platform to manufacturers worldwide, has raised an initial round of $2.8M in Series A funding with Durham-based Jurassic Capital.

The Raleigh-based software company said the deal would help accelerate Corevist’s growth, which has averaged 30 percent per year over 12 years with no outside investment up to this point.

“I’m thrilled to finalize our relationship with Jurassic Capital,” said Dr. Sam Bayer, Corevist Founder and CEO, in a statement. “Corevist’s stellar growth over the last 12 years truly validates our position within the market, and I’m confident we’ve found the right partners to help us move into the next stage of our journey. I can’t wait to see what the next chapter will bring for Corevist.”

“We invested in Corevist because we are impressed with Sam Bayer, the founder/CEO, and his leadership team and their track record in growing bootstrapped, consistently and profitably, over many years. We are also excited because of the potential of B2B e-commerce and the ability to leverage our expertise with Corevist in this space. Our focus at Jurassic is to invest in regional B2B software companies in order to help scale them to the next level. Corevist fits the bill perfectly,” explained. Kevin Mosley, a partner at Jurassic Capital.

Corevist’s mission is to make B2B eCommerce accessible to every manufacturer whose business runs on SAP ERP. It offers prebuilt, configurable SAP ERP integration as part of their cloud-based eCommerce platform, Corevist Commerce. That platform, the firm says, already processes over $1 billion in annual transactions on behalf of global manufacturers.

Source: WRAL TechWire