Kenandy Raises $33 Million
Kenandy is a cloud-based supply chain software company, based in Redwood City, California, that has raised $33 million. Kenandy was founded by Sandy Kurtzig. Kurtzig is known for being one of the executives behind the Manman, which is one of the largest software packages in the 1970s and 1980s. Lightspeed Venture Partners led this round of funding. Existing investors Kleiner Perkins Caufield & Byers, Salesforce.com, and law firm Wilson Sonsini Goodrich & Rosati participated in this round. Lightspeed partner Chris Schaepe is joining Kenandy’s board of directors. Kenandy previously raised $10.5 million in funding two years ago.
Salesforce.com CEO Marc Benioff is one of Kurtzig’s neighbors in Hawaii. Kurtzig said that Benioff helped her come up with the idea for Kenandy, which is like a cloud-based update of her previous company ASK Computer Systems. ASK Computer was the company behind the Manman manufacturing software. ASK Computer Systems went public in 1981 and then was later sold to CA. Manman used to be called Mama (manufacturing management), but it was renamed due to input from target customers.
“Manufacturing executives, who are mostly men, thought Manman was a more fitting product name that they could get behind than Mama,” stated Kurtzig in an interview.
The end goal is to take Kenandy public soon. Most likely it will happen in a couple of years. Kurtzig said that this time she wants to be on the New York Stock Exchange.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry