TECHNOLOGY
ICIX Releases Product Safety Compliance Application
ICIX has introduced Direct Test, a cloud-based application to help retailers and manufacturers collect and manage third-party product test results to meet safety and regulatory requirements.
“With more than 38 million products recalled in 2013, product safety is clearly an issue for both consumers and businesses,” said Matt Smith, co-founder and chief strategy officer for San Francisco–based ICIX, in a company statement. “The globalization of supply chains and increased regulation have made it much more difficult to manage extended supply-chain risk. We developed Direct Test in collaboration with leading brands, retailers and testing labs to help them proactively and efficiently meet the challenge of validating product safety.”
By integrating with testing labs, Direct Test automates and streamlines the management of product testing and regulatory documents. The application will match a company’s purchase orders with existing test results and certifications and will alert the company, trading partners and testing labs when any of the required information is missing. Regulatory paperwork is automatically generated, and products without the required paperwork are identified before they are shipped.
ICIX recently secured a $25 million Series C investment from Perth, Australia–based Wesfarmers Limited and Walnut Creek, Calif.–based Vertical Venture Partners. The current round of investment, coupled with the original investment by Menlo Park, Calif.–based Draper Fisher Jurvetson and East Melbourne, Australia–based Starfish Ventures, brings ICIX’s total venture capital investment to $50 million.
For more information, visit www.icix.com.
