Again Technologies Secures Third Round Funding; Enterprise Incentive Management Software Company Receives $15 Million Investment from Leading Venture Capital Firms.Business Editors/High-Tech Writers PLEASANTON, Calif.--(BUSINESS WIRE)--Oct. 31, 2001 Again Technologies, Inc., an emerging leader in enterprise incentive management (EIM EIM Enterprise Incentive Management EIM Enterprise Information Management EIM Enterprise Identity Mapping (IBM) EIM Enterprise Instant Messaging EIM Employee Internet Management EIM European Institute for the Media ) software, today announced it has secured $15 million in a third round of equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. led by InterWest Partners. Other investors include leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] Palomar Ventures, Sierra Ventures, Staenberg Venture Partners and Artemis Ventures. "With a strong management team now in place and a first-rate engineering team, Again Technologies is poised to take the leadership position in the enterprise incentive management solutions market," said Steve Bowsher, general partner for InterWest Partners. "We are extremely confident in the market viability of Again Technologies, and we expect the company to build on its successes as it expands its software solution and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" ." Again Technologies provides incentive management solutions for the extended enterprise, including sales, services, channels, suppliers and customers. The company's software allows clients to drive top-line revenue and reduce expenses by aligning internal and external resources with strategic objectives. Proceeds from the new funding will be used to expand Again Technologies services, marketing and sales to Global 1000 clients. "This investment is a strong endorsement of our business plan to enable incentive management across the extended enterprise," said Jeff Carr, president, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chairman of Again Technologies. "In addition to our mature software products and great customers, we now have the ability to execute on our aggressive go-to-market strategy." Also today, Again Technologies announced the appointment of new executives in key areas of customer service, sales, marketing and administration (see separate news release). "We are pleased to have attracted two new investors, InterWest Partners and Palomar Ventures, as well as the continued support of all previous round venture investors," said Ted Comfoltey, CFO See Chief Financial Officer. of Again Technologies. "During the last year, Again Technologies is the only company in this market to receive both the endorsement of a new lead investor and a significant investment from a second new venture capital firm. We believe these investments were made in recognition of our significant accomplishments in the delivery and deployment of leading edge, enterprise incentive management solutions." About InterWest Partners InterWest Partners, founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. With $1.6 billion in capital under management, InterWest's experienced partners bring together deep domain knowledge in medical technology, telecommunications and software. InterWest takes a long term, collaborative approach to venture funding, providing early stage and ongoing enlightened capital, management coaching and access to a broad network of resources. Examples of the firm's previous investments include ArthroCare Corporation, CIENA Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom , Copper Mountain Networks, Inc., Corixa, Cor Therapeutics, Coulter Pharmaceutical, Cubist Pharmaceuticals, Stratacom (subsequently acquired by Cisco), Lightera Networks (subsequently acquired by Ciena), PercuSurge (subsequently acquired by Medtronic), Silicon Graphics, SiTera, Ventritex (subsequently acquired by St. Jude Medical St. Jude Medical, Inc. NYSE: STJ is a $2.9 billion global cardiovascular device company, with headquarters in St. Paul, Minnesota, United States. The company sells products in more than 100 countries and has over 20 operations and manufacturing facilities worldwide. ), and Xilinx, Inc. InterWest Partners has offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. and Dallas. About Palomar Ventures Palomar Ventures, a Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, venture capital firm with $300 million under management, invests in early-stage information technology companies. Palomar Ventures is currently focused in the strategic areas of infrastructure software, networking communications, next-gen storage and core solutions to make the enterprise more competitive. Investments to date include Continuous Computing  This article about a company does not make it clear whether the subject meets the Wikipedia criteria for . , Dorado, Efficient Networks, Innovics, KnowNow, StoneFly stonefly, any insect of the order Plecoptera. North American species, of which there are more than 200, are yellowish, greenish, or brownish in the adult stage and have transparent wings, usually two pairs, but seldom fly. Networks, Syntricity, Telecore (ViaSource), uMachines, Virtella, and YellowShirt. Founded in 1999, Palomar has offices in Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif. and Irvine, Calif. About Sierra Ventures Sierra Ventures is a privately held venture capital firm focusing its investments on early stage communications, software and Internet related content and infrastructure companies. As active investors, Sierra works with entrepreneurs and management teams to originate and build new companies into large and profitable businesses. Sierra Ventures manages eight venture capital partnerships, which together have more than $1 billion of committed capital. About Again Technologies, Inc. Again Technologies, Inc. is a leading provider of enterprise incentive management (EIM) software, enabling companies to create and manage flexible, highly targeted incentive programs that drive top-line and bottom-line results across the extended enterprise. The Again Technologies software solution allows businesses to rapidly align performance with strategic objectives, including sales, services, channels, customers and suppliers. Again Technologies was founded in 1995 and is headquartered in Pleasanton. More information is available at http://www.againtech.com. |
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