AppsCo Software Raises $10 Million in Second Round Venture Financing; Capital Will be Used to Spearhead AppsCo's Continued Rapid Expansion.Business/High Tech Editors BELLEVUE, Wash.--(BUSINESS WIRE)--April 24, 2000 AppsCo(R) Software, Inc., a leading provider of data warehouse and analytic application development solutions for Microsoft(R) SQL Server TM 7.0, announced today it has raised $10 million in second round venture financing. The company, established in 1998, and with a global partnership deal with Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ), will use the funding proceeds to ramp up its sales and marketing efforts to support its rapidly growing business. The financing round, which was led by leading European venture capitalist 3i, adds Aberdeen Asset Management Aberdeen Asset Management plc is an international investment management group, managing assets for both institutions and private individuals from offices around the world. It is based in Aberdeen, Scotland and listed on the London Stock Exchange (LSE: ADN). and British Linen Equity to the company's existing investors Vertex Technology, Scottish Equity Partnership and Grampian Enterprise. "This financing round will allow us to rapidly expand our sales, marketing and support infrastructure and help us build continued market share as the tool of choice for developing data warehouses and `out of the box' analytic applications for SQL Server 7.0," said AppsCo President and 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. Brian Burnett. AppsCo's financing comes six months after the highly successful introduction of the company's flagship product -- AppsMart -- to the US market. AppsMart enables developers to quickly build and deploy SQL Server 7.0-based data marts and analytic applications. Using a best-in-class analytic application template, developers iterate it·er·ate tr.v. it·er·at·ed, it·er·at·ing, it·er·ates To say or perform again; repeat. See Synonyms at repeat. [Latin iter the application design to meet user requirements and deploy the solution to Microsoft SQL Server A relational DBMS from Microsoft that is a major component of the Windows Server System. It is Microsoft's high-end client/server database and is closely integrated with Microsoft Visual Studio and the Microsoft Office System. 7.0. AppsMart automatically populates the data mart or analytic application with sample data and integrates OLAP Services, data transformation services Data Transformation Services, or DTS, is a set of objects and utilities to allow the automation of extract, transform and load operations to or from a database. The objects are DTS packages and their components, and the utilities are called DTS tools. (DTS (1) (Digital Theatre Sound) A digital audio encoding system used in movie and home theaters. Popularized by the movie Jurassic Park, the six-channel (5. ) and Microsoft(R) Office2000, providing developers a rapid start, and consistent methods and techniques when implementing a data warehouse or analytic application on the Microsoft platform. "AppsCo has an outstanding global competitive advantage in a market predicted to grow to more than $ 5.2 billion in the next three years" said Stewart Licudi of 3i. "Leading this deal was something we really wanted to do and are delighted with the results." "AppsCo has an exceptional business plan backed by an outstanding management team, as an investment it offers huge potential for us," added Jock Gardiner of Aberdeen Asset Management. About AppsCo Software Limited AppsCo Software Limited, founded in 1998, is a leading supplier of data mart design and analytic application development tools. AppsCo, a Microsoft Certified Solution Provider (MCSP MCSP Microsoft Certified Solution Provider MCSP Merlin Capability Sustainment Plus MCSP Member of the Chartered Society of Physiotherapists (UK) MCSP melanoma chondroitin sulfate proteoglycan MCSP Master Certified Sales Professional ), develops and markets AppsMart, an analytic application development environment. A patent pending technology, AppsMart enables data mart application builders to design data marts based on vertical market solution templates, and standard methods and processes. Backed by 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] 3i, Vertex Management Group, Scottish Equity Partnership and Grampian Enterprise Limited, AppsCo is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . AppsCo is based in Surrey, United Kingdom, and has U.S. operations in Bellevue, Washington. More information on the company and its AppsMart solution is available on the Web at www.appsco.com, or by calling 425/451-9777. AppsCo, AppsMart and the AppsCo and AppsMart logos are registered trademarks of AppsCo Software Ltd. Other products mentioned in this document are registered, trademarked, or service marked by their respective owners. Note to Editors: Copies of previous AppsCo press releases and corporate and product information are available on AppsCo's Web site at http://www.appsco.com. |
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