HighJump's software is used by industries as diverse as aerospace and automotives, consumer goods, direct store delivery, discrete manufacturing, document management, food and beverage, retail, third party logistics, as well as wholesale and industrial distribution. The company describes itself as, “simplifying the art and business of creating, selling and moving products across global networks, helping more than 1,300 clients worldwide drive growth and manage change.”
Citing reasons for selling HighJump, the vice president and general manager of 3M Track and Trace Solutions Division, Lemuel Amen, notes that the company, “is refining its approach to providing comprehensive track and trace solutions for high-value assets and people that deliver customer value through asset utilization, safety and security. Therefore, we believe HighJump will have more opportunity to maximize its potential with Battery Ventures."
The sale is expected to close in the second quarter of this year after which HighJump will function as a stand-alone company. HighJump says that after the transaction is completed, it will “remain committed to investing in the development of products, services and technologies in order to continue to provide value for customers and maintain strong offering in the marketplace. The products will continue to be sold and supported under the HighJump brand around the world, offering the functionality and flexibility required by customers.”
Battery Ventures manages nearly $3 billion in committed capital, including its current fund of $750 million. It describes itself as partnering with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.
Jesse Feldman, senior associate of Battery Ventures, explains that, “We have been evaluating the supply chain software market for over 18 months, and believe HighJump Software represents the best-in-class solution. Moving forward, the company provides us with an excellent platform to grow both organically and through acquisition." Terms of the transaction were not disclosed.