Bay Logics Inc. Announces Completion of Phase I, Series C Funding.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--Aug. 8, 2000 Bay Logics Inc., the leader in Lease Relationship Management (LRM LRM Language Reference Manual LRM Casa De Campo, Dominican Republic (Airport Code) LRM Long Range Missile LRM Line Replaceable Module LRM Local Resource Manager LRM Line-Reflect-Match LRM Land Resources Management ) software solutions, announced today that it has completed phase I of its series C funding. Chicago-based Apex Venture Partners led the funding effort, which was started in May. Apex, established in 1987, has approximately $300 million in capital currently under management. The firm seeks opportunities that address large and/or rapidly growing markets with real, unmet or under-served customer needs. Apex has invested in more than 90 early stage technology companies, including Data Critical Corp. (Nasdaq:DCCA DCCA Department of Commerce and Community Affairs DCCA Department of Commerce and Consumer Affairs DCCA Dependable Computing for Critical Applications (Conference) DCCA Debian Common Core Alliance DCCA Dupont Circle Citizens Association ), iTango Software, Exodus Communications Exodus Communications was a high-flying internet hosting and service provider to dot-com businesses that went broke along with their customers. Exodus inception Exodus was founded in 1992 as Fouress, Inc., and reincorporated in 1994 to Exodus Communications. (Nasdaq:EXDS), RSA Security RSA, The Security Division of EMC Corporation, is headquartered in Bedford, Massachusetts, and maintains offices in Ireland, the United Kingdom, Singapore, India, and Japan. RSA organizes the annual RSA conference. (Nasdaq:RSAS RSAS RSA Security, Inc. (stock abbreviation, AMEX) RSAS Royal Swedish Academy of Sciences RSAS RAND Strategy Assessment System RSAS Reactor Safety Assessment System ), KnowledgeStorm, Tut Systems (Nasdaq:TUTS TUTS Theatre Under the Stars (Houston, Texas) TUTS True Ultimate Tensile Strength ), White Cap Holdings and TRADEX TRADEX Target Resolution Discrimination Experiment Technologies (acquired by Ariba (Nasdaq:ARBA). George M. Middlemas, managing partner, Apex Venture Partners said, "Historically, Apex has invested in companies that have potential to create new markets or to be the market leader in an emerging, developing market. We believe that Bay Logics is such a company, having the potential to change the process of asset management by corporations throughout the world." "This funding serves as confirmation to us that we have a sound business model," said Sam Borgese, chief executive officer, Bay Logics. "We will use the funds to expand our product line, which will leverage our ability to stay on an aggressive growth path, and give our customers the increased functionality necessary for them to stay on top of LRM. We will also spend the necessary money to enlarge TO ENLARGE. To extend; as, to enlarge a rule to plead, is to extend the time during which a defendant may plead. To enlarge, means also to set at liberty; as, the prisoner was enlarged on giving bail. our sales force and increase the mind share of Bay Logics in the rapidly developing LRM market," continued Borgese. The series C round total will be disclosed upon closure of funding. About Bay Logics Established in 1987, Bay Logics Inc. is the industry leader in the development and delivery of software solutions to manage owned and leased real estate assets through installed and Web-hosted environments, helping companies make real-time, business-critical decisions. Located in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , the company serves more than 280 of the world's best-known corporations including Sears, Starbucks and Staples. With a commitment to 100 percent customer satisfaction, dedication to industry innovation and delivery of best practice solutions, Bay Logics software solutions help its clients realize operational savings and increased profitability in the management of more than five billion square feet of property nationally. For further information regarding Bay Logics, contact Debra Bigelow at 619/955-1111; via fax at 619/237-7207, e-mail at dbigelow@baylogics.com; or visit our Web site at www.baylogics.com. About Apex Venture Partners Apex Venture Partners, established in 1987, is a Chicago-based venture capital firm with four funds that have over $300 million in capital under management. Apex specializes in early stage telecommunications, information technology and software investments throughout 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. . Its six principals and the six members of Apex's advisory board have diverse and complementary backgrounds that represent a balance of industry expertise, academic backgrounds, operating experience, insights and perspectives, which are used to build significant value in portfolio companies. Please visit the Web site at www.apexvc.com. |
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