ePAC Set to Grow Lead With $12.8M 2nd Round of Funding
Press release from the issuing company
SAN LEANDRO, Calif. and MENLO PARK, Calif., Sept. 19 -- ePAC Technologies, Inc., a developer of digital printing automation technology, announced the closing of its B round of equity financing in an oversubscribed $12.8 million round led by Menlo Ventures with current investors participating.
ePAC automates the print production process to reduce and ultimately eliminate the set-up and transaction costs that are part of every manufacturing process. The company has had 12 consecutive profitable quarters.
Doug Carlisle, managing director, Menlo Ventures, now joins ePAC's board of directors.
"ePAC has brought tremendous savings to its customer base -- the top companies in Silicon Valley. It has flourished through the tech downturn by delivering millions in cost savings through the application of its proprietary technology," stated Carlisle. "During ePAC's first four years, it has flawlessly continued to roll out its industry-leading technology. This gives ePAC a considerable lead in its industry, and has earned them incredible endorsements from their customers."
"ePAC has thrived where the other providers are struggling for survival. This lets ePAC use the new round of funding to expand its already substantial lead and to bring new technology to market that could produce the biggest breakthrough in print manufacturing in the last 100 years," added Carlisle.
"We chose Menlo as our partner because of their clear focus and commitment to helping us deliver a great solution for our customers," said Mr. Sasha Dobrovolsky, president and CEO, ePAC. "Our excellent results to date have come from consistently working with our customers to redesign their supply chains. Using ePAC's technology has allowed our customers to consistently exceed the cost savings metrics that we set with them. This backing from Menlo allows us to accelerate our technology development still further and to furnish current and future customers with innovations they have up till now scarcely dared dream of!"
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