Minneapolis based Software-as-a-Service (SaaS) startup, Fulcrum has raised US$ 3.1 million in seed round funding on 25 September 2020.
The seed funding was led by Chicago-based Motivate Ventures. Other participants in the round include Battery Ventures, Schematic Ventures, Bain Capital Ventures, Matchstick Ventures, Bread & Butter Ventures, IrishAngels, Social Starts, SpringTime Ventures, as well as individual investors Daren Cotter, Phil Soran and Yishan Wong.
The funds will be utilized for investment towards product enhancement, customer enablement and sales and marketing, in order to accelerate growth. This funding will support Fulcrum in its vision for a brighter future through connected production.
About Fulcrum
Founded by Yu Sunny Han in 2015, Fulcrum is a SaaS manufacturing platform designed and built from scratch. It brings modern and futuristic concepts to mid-sized production shops. Fulcrum’s long-term mission is to create a connected manufacturing supply chain, reducing tedious data entry, and increasing the speed and efficiency of the entire network.
It helps small and mid-sized manufacturers to improve efficiency through workflow optimization and automated data collection. Its fully digital, paperless workflow leveraging machine learning, automation, predictive analytics, and advanced heuristics help firms to improve efficiency and increase profitability.
Fulcrum creates custom ERP solutions for manufacturers, allowing them to optimize sales, quoting, purchasing, job scheduling, tracking, fulfillment and more.
“Now more than ever, there’s a clear, urgent need for a connected manufacturing supply chain and a better production system in the market, and that’s been validated by our growth and this round of investment. I couldn’t be more pleased with how our customers have responded to the way we were intentional with the design and workflow of our solution. We’re excited to accelerate growth with these funds and counsel from our investors,” said Sunny Han, CEO and founder of Fulcrum.
About Lead Investor- Motivate Venture Capital
Motivate Venture Capital has been investing in startups since 2003. It invests in Seed-stage companies across the US and Canada. MVC invests in talented founders with strong domain knowledge and whose companies have a high growth potential in large and growing markets.
“We’re thrilled to be working with Sunny – an expert and thought leader in manufacturing operations – and the exceptionally talented and driven Fulcrum team to provide a truly transformative ERP experience accessible on universal devices and web platforms for the modern-day manufacturing operator,” said David Wieland, Founder and Managing Partner of MVC.
“Gaining the power to accelerate our growth so that we, the collective David can beat the Goliath of calcified legacy systems while simultaneously stitching together a new way in which business is done in such a core industry is incredibly motivating. We’re building the manufacturing operating system of the future, a beautiful and sophisticated quantum leap forward for the most important core industry in the world,” said Sunny Han.
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 startup, Fulcrum has raised US$ 3.1 million in seed round funding on 25 September 2020.){kind=link}