CAI Software, LLC Acquires Parsable, Inc., a Leading Connected Worker Platform for Manufacturers
The Combined Company Optimizes and Improves Production, Quality, Equipment Maintenance, and Safety of Mid-Market and Enterprise Manufacturers Globally
LINCOLN, R.I., September 25, 2024 (Newswire.com) - CAI Software, LLC, (“CAI” or “CAI Software”), a portfolio company of STG and a leader in industry-specific enterprise resource planning (ERP), manufacturing execution and supply chain solutions to manufacturers and distributors, today announced that they have acquired Parsable, Inc., a leading cloud-native Connected WorkerTM platform used daily by global tier-1 manufacturers for production, maintenance, quality, safety and ESG.
Founded in San Francisco, Parsable has a blue-chip customer base in the food & beverage, oil & gas, chemical, and various process and discrete manufacturing industries across the globe, including such notable brands as Grupo Bimbo, Reyes Coca-Cola Bottling, and Holcim. Their leading SaaS-based platform has helped transform customers’ plant floors from paper-based to paperless with its powerful mobile solution and AI-powered analytics that improve mission-critical production and operational KPIs. Together, CAI Software and Parsable will focus on building solutions that transform how manufacturers drive greater efficiency and transparency across their organizations.
“Combining CAI Software and Parsable brings digital instructions to manufacturers which layers in with their existing manufacturing execution and warehousing systems to drive production, quality, safety, and operational improvements,” said Brian Rigney, CEO of CAI Software. “As we bring the companies together, we will continue to collaborate with our customers to develop purpose-built solutions to serve the unique requirements of their industry. In our next chapter of growth, I look forward to working with the Parsable team and continuing to innovate the Parsable platform.”
“This marks a pivotal moment for our industry,” says Parsable CEO Matt Belkin. “Together with CAI, we’re setting a new standard, equipping frontline workers with innovative digital tools that elevate productivity, safety, and quality to new heights. This partnership propels us toward a future where manufacturing is more connected, agile, and transformative than ever before.”
“Parsable has been an early innovator and leader in the connected worker vertical and is mission-critical to daily operations of tier-1 manufacturers globally,” said Wesley Jiang, Vice President of STG. “Parsable will deepen CAI’s manufacturing capabilities in providing a comprehensive suite of ERP, supply chain and manufacturing solutions.”
Barry Eggers, Founding Partner, Lightspeed Venture Partners, added, "Parsable pioneered the connected worker movement 10 years ago, transforming how frontline workers operate. Now, with CAI, that vision can scale across the entire supply chain. Together, they are set to redefine productivity and efficiency in manufacturing, enabling companies to unlock unprecedented value from the factory floor to the global supply chain."
Lightspeed Venture Partners and other existing investors will remain significant investors in the combined company. David Lincoln of Activate Capital will join the CAI Board of Directors and Matt Belkin will continue as CEO of Parsable reporting to CAI CEO Brian Rigney.
Houlihan Lokey served as Parsable's exclusive financial advisor.
About Parsable
Parsable helps leaders at the world’s largest industrial companies unlock the big data and insights needed to improve their frontline operations and build a more sustainable future. Leading manufacturers rely on Parsable’s Connected Worker® platform every day to track millions of data points from their frontline operations and leverage unprecedented visibility to optimize productivity and drive ROI. Parsable is headquartered in San Francisco with a presence throughout North America and Europe. www.parsable.com.
About STG
STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio consists of more than 50 global companies. www.stg.com.
About Lightspeed
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsvp.com.
Source: CAI Software
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Tags: acquisition, business, connectedworker
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