Austin-Tetra Secures $3.5 Million in Financing; Growing Data Firm Plans to Double U.S. Sales Force, Ratchet up Marketing Efforts.IRVING, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to -- Even the best products in the world don't sell themselves. With this in mind, Austin-Tetra has secured a $3.5 million investment largely dedicated to new sales and marketing efforts for the company's industry-leading suite of data management products and services. Southwest Mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. Investments, an affiliate of Growth Capital Partners, L.P. (GCP GCP Good Clinical Practice GCP Ground Control Point GCP Global Carbon Project GCP Gateway Control Protocol GCP Global Consciousness Project GCP Granulocyte Chemotactic Protein GCP Grand Central Parkway (New York) ), led Austin-Tetra's second round of funding. Austin-Tetra previously received $600,000 from angel investors An individual who invests his or her own money in a private company, which is typically a startup. An angel investor is not an employee or member of a bank, venture capital firm or other financial institution that normally makes such investments. in 2000. "We are very excited about our investment in Austin-Tetra," said Jim Forrester, managing partner of GCP's Southwest Mezzanine Fund A mezzanine fund is a type of private equity or merchant banking fund. A typical mezzanine investment consists of a debt or debt-like instrument, paired with an equity “sweetener. . "The company's proprietary database and solutions have the potential to become the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for business data management in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Asia/Pacific and Europe." Austin-Tetra provides global data management solutions for the supplier and customer intelligence market. The firm helps its clients, which are primarily large companies and institutions, to access and analyze the data they need to make informed business decisions, reduce costs and minimize risk. "We are pleased to have GCP as a partner," said Phil Berkebile, Jr., president and chief executive officer of Austin-Tetra. "Their experience can help us significantly increase our market share in the rapidly evolving business-to-business data management market. This additional funding will allow us to move faster and grow our customer base. It will also enable us to quickly meet our customers' needs with enhancements to our products and services." Austin-Tetra plans to double the size of its sales staff, in addition to doubling the company's marketing initiatives. As a result, the firm will dramatically increase the geographic coverage of its sales team 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. . "We've already developed a stable of happy clients, including more than 200 of the FORTUNE 1000. These companies generate significant return-on-investment with our products and services," Berkebile said. "Now it's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a to take those success stories deeper into the marketplace and win an even broader base of clients that can benefit from our proven solutions." About Austin-Tetra, Inc. With headquarters in Irving, Texas, Austin-Tetra has been a leader in global data management since 1993. The company offers some of the most comprehensive content-based management solutions in the market. Austin-Tetra sells its services to the largest companies in the world addressing the data requirements of global supplier management, strategic sourcing and customer relationship management. Austin-Tetra's coverage includes more than 50 million global businesses. Its solutions validate, enhance and enrich information on existing suppliers and customers and enable the identification of new ones. The company's services provide customers with enterprise-wide visibility into their trading partner base, enabling thorough analysis to help mitigate business risk, leverage buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. to reduce supply costs and maximize revenue generating opportunities. For more information, visit the company's web site at www.austintetra.com. About Growth Capital Partners, L.P. Growth Capital Partners, L.P. is a Southwest-based merchant and investment banking firm serving both private and public middle-market companies. Since the firm's inception in 1992, GCP has completed in excess of 200 transactions, raised more than $1 billion of institutional capital (through private placements of equity, subordinated, and senior debt), and completed merger and acquisition transactions with an aggregate value in excess of $2.0 billion. For more information, please visit the company's web site at www.growth-capital.com. |
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