Adaytum Secures $11.1 Million in Mezzanine Funding.Business/Technology Editors MINNEAPOLIS--(BUSINESS WIRE)--May 6, 2002 Cargill Leads Round With Participation From Existing Investors Including St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Venture Capital, Accenture Technology Ventures, 3i Group, JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. H&Q, And Dorsey & Whitney Ventures Adaytum, the leading provider of enterprise business planning (EBP EBP Evidence Based Practice EBP Enterprise Buyer Professional EBP Education Business Partnership EBP European Business Programme EBP Efficiency Bandwidth Product EBP Electronic Billing and Payment EBP Extended Base Pointer EBP Error Back Propagation ) solutions, today announced it has completed an $11.1 million round of mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the . Cargill led this round, with participation from existing investors, including, St. Paul Venture Capital, Accenture Technology Ventures, 3i Group, JPMorgan Chase H&Q, and Dorsey & Whitney Ventures. Proceeds from the financing will further drive Adaytum's growth in worldwide sales and marketing. This financing will also help product development of the Adaytum e.Planning platform, which provides Global 2000 companies with real-time insight into future operating performance by combining modeling, budgeting, forecasting, analytics, reporting and performance management. "We're very pleased to lead this financing round for Adaytum," said David Patchen, managing director of Cargill's corporate venturing arm, Cargill eVentures. "Cargill brings the perspective of a global 2000 enterprise, and Adaytum's product is highly relevant for enhancing business planning for companies in this market segment. We look forward to helping Adaytum extend its impressive track record of success." "St. Paul Venture Capital has been a long-time backer of the Adaytum mission," said Michael Gorman The name Michael Gorman or Mike Gorman may refer to:
"In the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a tight environment for venture financing, a capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. of this size from a syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism of investors this prestigious is particularly noteworthy," said Guy Haddleton, chief executive officer of Adaytum. "We're delighted to welcome Cargill to our roster of investors and equally proud that so many long-time Adaytum backers have once again extended their commitment to our firm in this new round." ABOUT CARGILL AND CARGILL EVENTURES Cargill is an international marketer, processor and distributor of agricultural, food, financial and industrial products and services with 90,000 employees in 57 countries. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition. Cargill eVentures is a wholly owned venture investment group of Cargill and invests in technology companies that enable global commerce, innovation, and efficiencies across supply chains. ABOUT ADAYTUM Adaytum - named to Upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside magazine's "Hot 100 Private Companies" for 2001 - provides Web-based enterprise business planning solutions that enable a single view of future operating performance. The choice of many of the Fortune 500 Adaytum is headquartered in the U.S., with offices in the U.K., the Netherlands, and Australia, and partners in more than 35 countries worldwide. For more information, visit www.adaytum.com. Adaytum and Adaytum e.Planning are trademarks or registered trademarks of Adaytum, Inc., in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or other countries. All other trademarks or registered trademarks are property of their respective holders. |
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