Manman founder raises $33 million for latest software company
SAN FRANCISCO, June 10
SAN FRANCISCO, June 10 (Reuters) - The executive behind Manman, one of the biggest software products of the 1970s and 1980s, has raised another $33 million for her newest company, Kenandy.
The cash will allow Kenandy, a cloud-based supply-chain software business based in Redwood City, Calif., to beef up sales and marketing and add more products, Chief Executive Sandy Kurtzig said in a telephone interview.
Lightspeed Venture Partners led the round, with existing investors Kleiner Perkins Caufield & Byers, Salesforce.com Inc , and law firm Wilson Sonsini Goodrich & Rosati participating. Lightspeed partner Chris Schaepe will join Kenandy's board. The company raised $10.5 million in 2011.
She said Salesforce.com Chief Executive Marc Benioff, a neighbor of Kurtzig's in Hawaii, sparked the idea of founding Kenandy, which in many ways is a cloud-based update of her previous company, ASK Computer Systems, maker of Manman manufacturing software.
Kurtzig took ASK Computer Systems public on Nasdaq in 1981. It was later sold to CA. Originally named Mama, short for manufacturing management, the product underwent a name change after input from target customers, Kurtzig said.
"Manufacturing executives, who are mostly men, thought Manman was a more fitting product name that they could get behind than Mama," recalled Kurtzig, who was a young mother at the time she developed the software.
She plans to take Kenandy public as well, perhaps in two years or so.
"This time I want to be on the New York Stock Exchange," she said.
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