Brook Venture Partners Leads a $5 Million Investment in RockBlocks Group Inc.
Funds will Rapidly Scale Sales and Marketing
Wakefield, MA – Brook Venture Partners (“Brook”) today announces it has led a $5 million investment in RockBlocks Group Inc. (“RockBlocks”), a Massachusetts-based provider of supply chain management software and solutions for leading retailers managing complex global supply chains, including The Bon-Ton Stores, Inc., Argos, Home Depot, Target, Staples, Inc. and JCPenney. The funding from Brook Venture Fund II, a $100 million fund, will be used to rapidly scale the RockBlock’s sales and marketing activities.
“As retailers extend their supply lines further in our global economy, the challenges of managing complex global supply chains have grown geometrically. RockBlocks is the only company providing comprehensive real-time solutions to managers in the field. Consequently, the growth opportunity is sizable,” says Ned Williams, Partner with Brook Venture Partners. “We are impressed with the management team’s operating experience, as well as their dedication to innovation and customer service. RockBlocks has already established a great reputation in the industry.”
“Due to the unique nature of our real-time business intelligence solutions, we are poised to accelerate our leadership position in the global retail sourcing space,” says David Diamond, CEO of RockBlocks Group, Inc. “With capital and advisory support from Brook, we now have the available resources to leverage our current customer base and grow the business.”
“We’re delighted to partner with Brook and believe their investment affirms the value of RockBlocks,” says Matt Hicks, COO of RockBlocks Group, Inc. “Brook’s experience with building successful sales and marketing organizations will prove beneficial as we accelerate our own sales and marketing activities. Brook is a great fit for RockBlocks.”
About RockBlocks Group, Inc.
RockBlocks offers a complete global sourcing and supply solution that enables companies to effectively source goods from any country and manage the flow of products and information across international borders to any destination in the world. The web-based solution is the most configurable and adaptable application on the market today for the global retail and supply industry, enabling customers to fully automate, accelerate and optimize their responsible sourcing processes. RockBlocks in headquartered outside of Boston in Wayland, MA and supports operations throughout North America, South America, EMEA and Asia. For more information, visit www.rockblocks.com.
About Brook Venture Partners
Brook Venture Partners provides expansion stage capital through Brook Venture Fund I, Brook Venture Fund II and other co-investment funds to Information Technology and Medical Technology companies located in the Northeastern United States. The firm focuses on investments of $2–5 million; and specializes in both financing and providing the strategic and planning support necessary to rapidly scale and accelerate sales and marketing activities. Brook is headquartered outside Boston in Wakefield, MA. For more information, call 781-295-4000 or visit www.brookventure.com
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January 15, 2008