Region
Second Wave - Michigan
Capital Gains - Lansing
Catalyst Midland
Concentrate - Ann Arbor/Ypsi
Epicenter - Mount Pleasant
Route Bay City
Rural Innovation Exchange
Southwest Michigan
UPword - UP
The Keel - Port Huron
The Lakeshore
Metromode - Metro Detroit
Flintside - Flint
Model D - Detroit
Rapid Growth - Grand Rapids
Focus Areas
Arts and Culture
Community Development
Diversity
Economic Development
Entrepreneurship
Healthy Communities
Kids and Education
Sustainability
Technology and Innovation
Transportation
Cities
Ann Arbor
Berkley
Birmingham
Dearborn
Detroit
Ecorse
Farmington
Ferndale
Grosse Pointe
Hamtramck
Hazel Park
Mt. Clemens
Northville
Oak Park
Plymouth
Pontiac
Port Huron
Rochester
Roseville
Royal Oak
Sterling Heights
Village of Franklin
Wyandotte
Ypsilanti
Series
Metromode
Block by Block
City Dive
Community Redistricting
COVID19
Culture of Health
Detroit Driven
Dining Destinations
Early Education Matters
Equity in our Parks
Ethnic Markets
Exploring Economic Equity
Girl Scouts SE Michigan Team Up
Inside our Outdoors
Invasive Species
Live, Work, Play in Macomb!
Macomb Parks & Trails
On The Ground
One Detroit
Sterling Heights Innovation District
Voices
Statewide
Areas of Concern
Block by Block
Bridging the Talent Gap
COVID19
Cyber Security
Disability Inclusion
Early Education Matters
Forestry
Girl Scouts SE Michigan Team Up
Good Food
Greater Lakes
Inside our Outdoors
Invasive Species
MI Mental Health
Michigan Nightlight
Michigan's Agricultural Future
Michigan's State of Health Podcast
Nonprofit Journal Project
Preserving Michigan
State of Health
Stories of Change
Voices of Youth
Yours, Mine, & Ours - Public Health
Toggle navigation
Focus Areas
Arts and Culture
Community Development
Diversity
Economic Development
Entrepreneurship
Healthy Communities
Kids and Education
Sustainability
Technology and Innovation
Transportation
Cities
Ann Arbor
Berkley
Birmingham
Dearborn
Detroit
Ecorse
Farmington
Ferndale
Grosse Pointe
Hamtramck
Hazel Park
Mt. Clemens
Northville
Oak Park
Plymouth
Pontiac
Port Huron
Rochester
Roseville
Royal Oak
Sterling Heights
Village of Franklin
Wyandotte
Ypsilanti
Series
Metromode
Block by Block
City Dive
Community Redistricting
COVID19
Culture of Health
Detroit Driven
Dining Destinations
Early Education Matters
Equity in our Parks
Ethnic Markets
Exploring Economic Equity
Girl Scouts SE Michigan Team Up
Inside our Outdoors
Invasive Species
Live, Work, Play in Macomb!
Macomb Parks & Trails
On The Ground
One Detroit
Sterling Heights Innovation District
Voices
Statewide
Areas of Concern
Block by Block
Bridging the Talent Gap
COVID19
Cyber Security
Disability Inclusion
Early Education Matters
Forestry
Girl Scouts SE Michigan Team Up
Good Food
Greater Lakes
Inside our Outdoors
Invasive Species
MI Mental Health
Michigan Nightlight
Michigan's Agricultural Future
Michigan's State of Health Podcast
Nonprofit Journal Project
Preserving Michigan
State of Health
Stories of Change
Voices of Youth
Yours, Mine, & Ours - Public Health
About
Support Us
Plex Systems nails down $6M in venture capital
Thursday, November 12, 2009
| Source:
metromode
Share
Plex Systems can now count all of the ways it's going to grow - six million ways, in fact.
That's how much venture capital the Auburn Hills-based firm received earlier this week. A combination of private-equity firm
Apax Partners
, company management, and founding investors made the investment so the firm can build its customer base, expand its product development and accelerate sales and marketing efforts.
Plex Systems
has watched its recurring revenue grow 34 percent in the first nine months of this year compared to 2008. Total revenue is up 14 percent over the comparable period from last year. The company has expanded into new industries, such as food and beverage processing, aerospace and defense manufacturing, and medical device manufacturing. It also grew its position within automotive manufacturing.
"That's been pretty average for the last 2-3 years in a row," says Patrick Fetterman, vice president of marketing for Plex Systems.
The company employs 135 people and eight student co-ops from Lawrence Technological and Kettering universities. It has hired about 15-20 people so far this year and expects to continue to hire next year. It is preparing for an
initial public offering
in the next 2-3 years.
Plex Systems creates enterprise resource planning software that lets manufacturers work more efficiently and provide the same services on a website. It's widely used in the automotive, defense, life sciences, and food and beverage industries. Plex Systems competitors include the likes of Microsoft, Oracle, and the European SAP.
Source: Patrick Fetterman, vice president of marketing for Plex Systems
Writer: Jon Zemke
Enjoy this story?
Sign up
for free solutions-based reporting in your inbox each week.
Share
Related Tags
Investment
,
Oakland County
,
Software Design
,
Venture Capital
Recommended Content
Related Company
Plex Systems
1731 Harmon Rd.
Auburn Hills, MI 48326-1549
Website
Auburn Hills-based Plexus Systems is one of the fastest growing companies in Metro Detroit. Developer of state-of-the-art manufacturing information systems, the on-demand software company has racked up an impressive list of clients and awards... as ...
Across Our Network
After the storms: Some Tampa Bay arts and cultural groups face long road to recovery
Source: 83Degrees
You can spend the night at this vintage Sears cottage at a northern Michigan state park
Source: Rural Innovation Exchange
The pandemic jumpstarted innovations in telemedicine
Source: Soapbox
Sterling Heights to celebrate Veterans Day with unveiling of new memorial
Source: Metromode