Fac­to­ryFour startup raises $5 mil­lion to ex­pand

Baltimore Sun - - MARYLAND - — Lor­raine Mirabella

Bal­ti­more tech startup Fac­to­ryFour said Fri­day it raised $5 mil­lion that will en­able it to more quickly de­velop soft­ware that helps man­u­fac­tur­ers man­age pro­duc­tion.

The $5 mil­lion fund­ing round was led by Au­gust Cap­i­tal, a 20-year-old ven­ture cap­i­tal firm that in­vests in “break­through” star­tups in in­for­ma­tion tech­nol­ogy. Re­fac­tor Cap­i­tal, an ex­ist­ing Fac­to­ryFour in­vestor, also par­tic­i­pated in the round.

Fac­to­ryFour, based in the city’s Mount Ver­non neigh­bor­hood, cre­ated a re­al­time, cus­tom­iz­a­ble method for man­u­fac­tur­ers to man­age pro­duc­tion. It’s de­signed to re­place older soft­ware and man­ual spread­sheets that many com­pa­nyies use. The firm has more than 35 cus­tomers in the U.S. and Europe and ex­pects to grow to 100 clients by early next year.

“Tra­di­tional man­u­fac­tur­ing soft­ware is rigid and out­dated, un­able to cap­ture the nu­ances in a man­u­fac­turer’s pro­duc­tion pro­cesses,” Param Shah, Fac­to­ryFour’s founder and CEO, said in the com­pany’s an­nounce­ment.

He be­came in­ter­ested in man­u­fac­tur­ing when he be­gan look­ing into ways to cre­ate af­ford­able pros­thet­ics for mar­kets in de­vel­op­ing na­tions.

Be­fore the lat­est round of fund­ing, the com­pany had raised $3 mil­lion in seed cap­i­tal.

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