Caddi Raises $89 Million To Upgrade Its Platform For Cloud Services And Purchasing

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In a press release, CADDi said that company intended to use the extra funds to increase the functionality of both its cloud-based platform for storing design data, CADDi Drawer, and its platform for locating parts, CADDi Manufacturing.

The news release from the business states, “CADDi is committed to rapid expansion in pursuit of our mission to unlock the potential of customers, partners, employees, and all entities engaged in manufacturing.”

According to the press release, CADDi is trying to expand outside of Japan and into other nations while also improving its technology. The company has created a branch in the United States and supplier operations in Mexico for that reason.

According to “Digital Payments: Modernizing Procurement Processes,” the manufacturing industry may have had a particularly challenging pandemic-era disruption due to its need for tangible commodities and raw resources. It has also become the sector with the highest planned procurement initiatives.

According to the research, 42% of the organizations in the examined industry have already made investments in procurement technology improvements, and another 44% have plans to.

Corcentric, a provider of billing and procurement solutions, obtained $315 million in capital as well in June. The company stated it will use the money for “general business growth” and to promote its managed accounts receivable (AR) solutions.