BT Squared Technologies Receives Venture-Funding from Oak Investment Partners and Intelligent Systems.ATLANTA--(BUSINESS WIRE)--Oct. 14, 1997-- Sales Configuration Software company will rapidly grow sales channels & expand its product line BT Squared Technologies today announced a $3.5 million venture capital investment from two leading technology investment firms. The company's first round of institutional funding comes from Oak Investment Partners of Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. and Westport, Conn., and Intelligent Systems of Atlanta. BT Squared develops packaged software See software package. applications that enable manufacturers of complex products to accurately analyze customer requirements and configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , quote and sell their products and services more effectively by eliminating errors and improving responsiveness. "The alliance of Oak Investment Partners and Intelligent Systems provides BT Squared with the ideal combination of a leading national venture firm and an extremely successful and well-respected local technology investor," said Scott Geller, 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. of BT Squared Technologies. "Both firms have enviable en·vi·a·ble adj. So desirable as to arouse envy: "the enviable English quality of being able to be mute without unrest" Henry James. track records building successful software companies. With over $1 billion under management, Oak has funded over 200 companies including Sybase, Seagate, Parametric Technology and HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy & Co. Intelligent Systems has a successful track record spanning over 24 years with local companies such as Peachtree Software and IQ Software." "BT Squared has been developing software for the manufacturing industry since its inception in 1991," said Bill Goodhew, Vice President of Intelligent Systems. "Until recently, its first two products were sold through marketing arrangements with other software companies. The company's latest application, the Interactive Selling System, is being sold by a direct sales force and through indirect channels as well. The venture capital investment will enable the company to accelerate the growth of its sales channels and establish a leadership position in the burgeoning sales configuration market." "BT Squared is the first company to offer a packaged solution for sales configuration and proposal generation that will enable thousands of companies to benefit from technology that has, until now, only been available to companies that can afford millions of dollars of customization and integration services," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Oak Investment Partner and BT Squared Board Member Ed Glassmeyer. "BT Squared is well positioned to become a leader in this exciting, fast growing market." About BT Squared Founded in 1991, BT Squared Technologies, Inc. develops software that enables manufacturers of complex products to sell more effectively. The Interactive Selling System includes configuration, quotation and dynamic proposal generation modules allowing manufacturers to extend their automated sales and product configuration capabilities out of the back-office into the hands of mobile salespeople sales·peo·ple pl.n. Persons who are employed to sell merchandise in a store or in a designated territory. , distributors, and even customers. Today, more than 130 customers use BT Squared selling and configuration software applications worldwide in over 20 industries including industrial automation, medical equipment, telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. equipment, hydraulics hydraulics, branch of engineering concerned mainly with moving liquids. The term is applied commonly to the study of the mechanical properties of water, other liquids, and even gases when the effects of compressibility are small. , transportation, electronic equipment and furniture manufacturing. Additional information can be found on the Internet at www.btsquared.com . CONTACT: BT Squared Technologies Scot McLeod, 404/321-1010 404/321-0072 (fax) smcleod@btsquared.com or Baron, McDonald & Wells Dianne Rabbitt, 770/492-0373 770/492-0374 (fax) drabbitt@bmwpr.com |
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