Specright

Specright

Specification management and supply chain data platform

About Specright

Simplify's Rating
Why Specright is rated
A+
Rated A on Competitive Edge
Rated A on Growth Potential
Rated A+ on Rating Differentiation

Industries

Industrial & Manufacturing

Enterprise Software

Company Size

51-200

Company Stage

Series B

Total Funding

$42M

Headquarters

Irvine, California

Founded

2014

Overview

Specright specializes in Specification Management and supply chain data management, focusing on the manufacturing, packaging, and product development sectors. The platform allows businesses to manage and optimize product specifications, which include details about ingredients, packaging, and labels. By centralizing this information, Specright helps companies streamline operations, reduce costs, and foster innovation. A unique feature of the platform is its ability to integrate specification data with sales data, enabling informed decision-making. Operating on a Software-as-a-Service (SaaS) model, Specright offers a user-friendly experience that encourages adoption and supports project implementation. The company's goal is to transform how businesses manage product specifications and supply chain data, ultimately enhancing product quality and promoting sustainable practices.

📈
Significant Headcount Growth
Simplify Jobs

Simplify's Take

What believers are saying

  • Partnerships with How2Recycle and Trustwell enhance Specright's market reach and capabilities.
  • Awards from G2 and Food Logistics highlight Specright's industry recognition and performance.
  • Increased focus on sustainability drives demand for Specright's specification data platform.

What critics are saying

  • Emerging startups in specification management could threaten Specright's market share.
  • Economic downturns may reduce spending on SaaS platforms, impacting Specright's revenue.
  • Data privacy regulations like GDPR pose challenges to Specright's data management practices.

What makes Specright unique

  • Specright is the first cloud-based platform for Specification Data Management.
  • The platform integrates specification data with sales data for data-driven decisions.
  • Specright offers additional services like webinars and a Specification Management Summit.

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Funding

Total Funding

$42M

Below

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Specright
$45M
Linktree
$65M
Substack
$100M
ClickUp

Growth & Insights and Company News

Headcount

6 month growth

↑ 3%

1 year growth

↑ 4%

2 year growth

↑ 4%
Read Magazine
Feb 5th, 2024
Specright and How2Recycle(R) Announce Partnership to Leverage Digitized Specification Data to Create Clear, Accurate Packaging and Labeling Recycling Instructions

Specright, the leader in Specification Management software, announced a partnership with How2Recycle, a standardized labeling system that clearly communicates disposal instructions to the public.

Specright
Dec 19th, 2023
Specright Achieves High Performer, Best Support, and Best Relationship Awards in G2's Winter 2024 Report

This year Specright, Inc. is excited to announce that Specright, Inc. were awarded 3 new awards, America's Regional High Performer, Best Relationship, and Best Support, all in the category of Supplier Relationship Management.

Specright
Dec 4th, 2023
Specright Named 2023 Top Tech Startup by Food Logistics, Supply & Demand Chain Executive

Specright named 2023 Top Tech Startup by Food Logistics, Supply & Demand Chain Executive.

Packaging Labelling
Oct 4th, 2023
Specright and Trustwell Announce Joint Partnership Enabling End-to-End Digitization for Food Nutritional Labeling

Specright, the leader in Specification Management software that helps customers take control of their supply chain data, today announced a joint partnership with Trustwell, a SaaS company setting the standard for compliance, transparency, and quality in the food and supplement industries.

Specright
Apr 28th, 2023
What I Learned From the Fast Company Most Innovative Companies Celebration

Specright, Inc. were named the third most innovative company in the enterprise category, recognizing the impact Specright has on how companies bring products to market.

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