Siemens invests in supplyFORCE.com
SANTA CLARA, CA — Siemens has announced a multimillion-dollar investment in supplyFORCE.com, a B2B e-commerce supply company for industrial and construction supplies headquartered in King of Prussia, PA.
The equity investment was made via Siemens Venture Capital GmbH, a private equity fund with the priority of investing in startup companies. The investment capital will be used to further develop the technology behind the website operation and forge strategic partnerships with distributors and manufacturers.
Siemens’ investment is a portion of the $35 million equity raised during a first round of funding completed in 1999.
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