Irvine-based DispenseSource Inc. on Tuesday said it recently closed a $13.7 million financing round.
The investment will help the 6-year-old company, which sells large cabinets and software packages that help manufacturers manage inventory, “broaden the reach” of its products.
Newtown Square, Pa.-based Inverness Capital Partners and New York-based Argentum Group joined previous investors San Diego-based Mission Ventures and Costa Mesa-based InnoCal Venture Capital in this round.
The company has seen more than 300% growth last year in revenue. DispenseSource didn’t disclose a revenue figure. Customers include Germany’s DaimlerChrysler AG.
