BRM Group Leads a $7.5 Million Investment Round in Percite; Funds to Advance United States and Far East Operations for Developer of e-Logistics Software and Services.Business Editors & High-Tech Writers FORT LEE, N.J.--(BUSINESS WIRE)--Nov. 29, 2000 BRM BRM biologic response modifier. BRM Biological response modifier, see there Group, a venture capital firm specializing in Internet and Communications Infrastructure investments, announced today it led a $7.5 million equity investment in Percite Information Technologies Ltd., a developer and integrator of supply chain management (SCM (1) (Software Configuration Management, Source Code Management) See configuration management. (2) See supply chain management. ) applications for enterprises engaging in global trade and for the freight forwarders that support them. Other investors in the round were GreenSpring Ventures LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and previous backers, Neuron and Gerard Klauer Mattison & Co. Inc. The capital will enable Percite to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale operations 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 the Far East, as well as to further enhance technology and the functionality of its products. "We are delighted to lead the Series B investment round for a company we see as defining the way international supply chains will be managed in the future. The Percite team spun out of ZIM ZIM Zavod Imeni Molotova (Gorky, Russia autombile maker) ZIM Zonal Interdiction Missile shipping, and brought with them vast experience in international logistics The negotiating, planning, and implementation of supporting logistic arrangements between nations, their forces, and agencies. It includes furnishing logistic support (major end items, materiel, and/or services) to, or receiving logistic support from, one or more friendly foreign and shipping," said Amir Goldman, principal, BRM Group. "The company's products will finally allow global enterprises and freight forwarders visibility into the last mile of the supply chain." Percite's applications are designed to optimize the operational efficiencies of freight forwarders and their clients involved in international trade. The company's customers include Motorola, Comverse Technologies and Geologistics. The company's products are deployed in an ASP environment coupled with a unique e-commerce capability that supports business-to-business process collaboration and integration. "BRM Group is the clear expert in building infrastructure companies, with proven ability to bring Israeli startups to the United States and the world marketplaces," said Shoko Pic, 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. , Percite. "With this cash injection, Percite plans to set up headquarters in the United States, support strategic partnerships and sales in the United States, establish our global infrastructure and continue product development. With BRM Group and GreenSpring Ventures behind us, many doors have opened that will help us achieve these goals." "Percite combines a compelling technology and business model with a visionary management team," added Bruce Springer, former executive vice president, WebMD Corporation and current managing partner, Greenspring Ventures LLC. "We believe that the company's services, technology and clear value propositions will penetrate the market successfully." About Percite Established in May 1999, Percite (www.percite.com) founders and management came from ZIM Shipping where they had been acquiring logistics expertise through software development in the forwarding and shipping business since 1980. Percite's objective is to become a leading provider in international freight forwarding and logistics software solutions for e-commerce environments for forwarders and their clients. Presently operating out of Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel, Percite is establishing its headquarters in the United States in order to be closer to its primary target markets, as well as its strategic and operating partners. About BRM Group BRM Group (www.brm.com) is a venture capital firm, founded in Israel in 1988, now with 40 employees, that invests seed and expansion capital primarily in Israeli-related Internet and communications infrastructure companies. As an active investor, BRM Group provides entrepreneurs with financial resources, in addition to technological and operational assistance to help them achieve success. BRM Group's public portfolio companies include BackWeb (Nasdaq:BWEB BWEB Broadcast Web BWEB Bacula Web Interface ), Brio Technologies (Nasdaq:BRIO (Brio Technology, Palo Alto, CA, www.brio.com) A software company founded in 1989 and acquired by Hyperion Solutions Corporation in 2003 that specialized in enterprise analysis and reporting programs that run on several platforms. ), Check Point Software Technologies (Nasdaq:CHKP CHKP Check Point Software Technologies Ltd. (stock abbreviation, AMEX) ) and CrossWorlds Software Inc. (Nasdaq:CWLD). About GreenSpring Ventures Established in July 2000, GreenSpring Ventures LLC (www.greenspring.net) is an early stage venture fund based in Atlanta, Ga. GreenSpring Ventures LLC was formed to assist early stage companies and entrepreneurs in building their businesses and rapidly moving them through the growth stages in their development life cycle. Focusing on early stage companies predominantly in the areas of Internet infrastructure, wireless infrastructure, services and technologies, Web-enabling technologies, and next generation platforms and software, GreenSpring Ventures LLC has invested in numerous early stage companies, including Anydevice.com, Backwire.com, Zapmedia Inc., Clippen.com, Interactive Apparel, J Street Data, Server Vault, CoRelation, FiscalOutlook and Corporategifts.com. |
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