ANAHEIM, Calif.--(BUSINESS WIRE)--Today, Parsec Automation Corp, a trailblazer in Manufacturing Operations Management (MOM) software, announced a major recapitalization led by BVP Forge, designed to fuel future growth.
Parsec forms dynamic partnerships with manufacturing entities worldwide, sparking pivotal transformations to boost efficiency and drive their ongoing enhancement goals. Its TrakSYS™ software platform demystifies manufacturing operations, providing users with heightened visibility, profound insights, and superior control—indispensable factors for success in their rapidly-evolving industrial landscape.
TrakSYS enjoys a trusted position in thousands of factories in more than 100 countries. It serves a variety of sectors, from automotive and chemical to food & beverage, life sciences, and packaged goods. Among Parsec’s globally-esteemed customers are industry heavyweights such as AB InBev, AkzoNobel, AstraZeneca, Beiersdorf, DuPont, Johnson & Johnson, and Eli Lilly. Parsec doesn’t just help businesses reach their goals; it helps them redefine what's possible, carving out a path to a more efficient, productive, and sustainable future.
Eddy Azad, founder & CEO of Parsec, shared, “TrakSYS's unparalleled functionality and user experience have allowed us to disrupt legacy market products. As an innovation-focused and profitable company, we realized the vast potential of an alliance with BVP Forge to expedite our vision and enhance customer impact. The synergy of Parsec's deep-rooted manufacturing operations management expertise with BVP Forge's considerable resources ignites great excitement for our future.”
BVP Forge will bring its business building program, ForgeEdge™, to help Parsec scale its platform, accelerate growth, and maximize customer impact. BVP Forge will also provide Parsec access to the renowned growth IP, talent network, and roadmap insights of Bessemer Venture Partners, which has decades of experience scaling enterprise companies into market leaders.
In the recently published Gartner® 2023 Critical Capabilities for Manufacturing Execution Systems, Parsec ranked the highest amongst all included MES vendors in 3 of 4 Gartner Use Cases—Continuous Process Manufacturing, Batch/Repetitive Flow Manufacturing, and Highly Regulated Industries.
“We are very impressed with Parsec’s unique technology, customer impact, and track-record of profitable growth,” said Brian Cramer, BVP Forge Operating Partner. “We see a clear and compelling opportunity to help accelerate the company’s success and build on its vision.”
“Manufacturers are increasingly embracing digitalization, which relies on high-quality data produced and synthesized on a plant floor,” said Rob Arditi, BVP Forge Partner. “Parsec’s mission criticality and core value proposition are evidenced by the company’s high customer satisfaction, strong retention, and superior product platform. We are thrilled to partner with the Parsec team and help the company reach its vision.”
Gartner, Critical Capabilities for Manufacturing Execution Systems, By Rick Franzosa, Christian Hestermann, Published 10 July 2023
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Parsec Automation Corp
Parsec is the developer of TrakSYS, a proven operations management software application and solution platform designed to significantly improve manufacturing processes. Parsec is committed to providing best-in-class products and solutions to our worldwide community of customers to assist them in optimizing their manufacturing operations. There are thousands of TrakSYS plants around the globe in a wide variety of Industries. TrakSYS helps manufacturers maximize asset utilization and efficiency, increase capacity with no new capital equipment, reduce production costs, decrease lead time, and improve profitability. For more information about Parsec and TrakSYS, please visit the corporate website at https://parsec-corp.com.
About BVP Forge
BVP Forge is the unique combination of a private equity firm for growth-oriented, self-sustaining software-enabled businesses paired with access to the Bessemer Venture Partners’ global venture capital platform. BVP Forge combines Bessemer’s front-line industry insights, proven growth IP, and robust executive network with tailored resources for self-sustaining companies and the ForgeEdge™ operational program. Mission-driven teams gain an ally who values their expertise, respects their legacy, and supports them to build a winning culture and business that withstands the test of time. BVP Forge invests from a $780M fund in partnership with the $20B Bessemer platform that has backed industry-defining businesses such as LinkedIn, MindBody, PagerDuty, Procore, ServiceTitan, Shopify, Toast, and Twilio. For more information about BVP Forge, please visit https://www.bvp.com/forge.
