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V3 Systems pulls in $11.5 million

Supply chain software company V3 Systems has raised $11.5 million in a first round of funding. The round was led by Sterling Venture Partners, and other participants included venture capital firms Draper Atlantic Management, SpaceVest and Updata Venture Partners.

V3 Systems? main product is a software package that does warehouse and inventory management and supply chain execution. The Charlotte, N.C.-based company plans to use the money for global sales and marketing campaigns. Among the company's customers are Compaq Computer, Dell Computer, Nokia, Alcatel and Nortel Networks.