Baxter Planning Systems, a supply chain SaaS company, has received a growth investment from Polaris Partners. Baxter's software platform, Prophet, helps OEMs optimise their aftermarket operations by significantly reducing inventory and transport costs while improving service levels.
Greg Baxter, Founder and Chief Executive Officer of Baxter, said "We are thrilled to partner with Polaris to help us capitalize on this exciting time in our market and the company's history. In this increasingly competitive global service environment, OEMs and third party service providers have a heightened focus on their post-s ales service operations as a critical source of profitable growth and maximising customer lifetime value. Partnering with Polaris will enable us to drive market-leading innovation while maintaining our relentless commitment to customer success."
Baxter's customers are global organisations that service mission-critical capital equipment. Given the time-sensitive and complex nature of their aftermarket supply chain, Baxter's customers encounter substantial complexity trying to optimize and execute required service levels without bloating inventory, shipping, or fixed distribution footprint costs.
"The Baxter team has a deep commitment to solving the unique pain points of aftermarket planning," said Dan Lombard, Partner at Polaris Partners. "The company's exceptional history of customer retention speaks to its domain expertise, the compelling ROI generated by its clients, and its differentiated combination of software and planning-as-a-service."
Bryce Youngre n, Managing Partner at Polaris Partners, noted "Greg and his team have built a wonderful business that is an ideal fit for our later stage practice: a founder-led, emerging category leader with a strong track record of profitable growth. We are excited to support the next phase of growth and success by expanding Baxter's capabilities into new markets, products, and geographies." The Baxter transaction represents continued momentum for the later stage investment practice of Polaris.
Both Youngren and Lombard will serve on the Baxter's Board of Directors. Additionally, Polaris recruited three senior industry executives -- all of whom personally invested -- to join the Baxter Board of Directors and work closely with management. Jim Martell and Sandy Smith, longstanding transportation experts, bring a combined 70 years of supply chain and logistics expertise. Bob Ranaldi, who formerly served as EVP of Worldwide Sales at PTC, brings decades of sales and marketing leadershi p and global OEM relationships.