Brio Technology Receives $6 Million in Venture Capital Financing; Company Builds Momentum as it Receives Strong Customer and Market Acceptance.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.--(BUSINESS WIRE)--June 17, 1996--Brio Technology, Inc., the technology leader in desktop decision support solutions for the data warehouse, today announced it has completed a venture capital round of financing totaling $6 million. Integral Capital Partners and Kleiner Perkins Caufield & Byers led the Series B Preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. financing with additional support from Novus Ventures and several off-shore investors. The company also announced the appointment of George Wikle, vice president of corporate solutions. In addition, Norm Vincent, former chief information officer for State Farm Insurance, has joined Brio's board of directors. 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. Technology's BrioQuery Enterprise product is a powerful yet easy-to-use desktop query, analysis and reporting tool. BrioQuery Enterprise supports the natural, interactive way users work and is scalable for enterprise-wide deployment. 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. META Group, Inc., the data warehouse market will grow 60% annually through 1998. Additionally, according to First Albany Corporation, the total number of end users accessing the data warehouse will grow by 97% during the same time frame. Brio Technology Brio Technology was a San Francisco Bay area software company cofounded in 1984 by Yorgen Edholm and Katherine Glassey. It made money early on by doing contract work for Metaphor Corporation and performing contract programming. , with its roots in data warehousing and its flagship product BrioQuery Enterprise, is well positioned to assume the market leadership position. Specifically, the financing will expand Brio Technology's sales and marketing efforts. In addition, it will support Brio's international expansion including the launch of Brio Technology Ltd. in the U.K. which was announced on June 3. Capitalizing on data warehouse market momentum, combined with tremendous customer acceptance, Brio is poised for accelerated growth. "The market's response to BrioQuery Enterprise has positioned us to become the leader in desktop decision support products. This round of financing provides Brio Technology with the capital needed to expand sales and marketing efforts to meet the demands of today's decision support market," said Yorgen Edholm, 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. and founder of Brio Technology. The company will also focus on continuing to enhance core products based on technical advances and customer feedback. One area of product development focus will be the implementation of the company's recently announced Intranet strategy. The strategy is to deliver interactive data warehouse querying via the World Wide Web and is scheduled to be implemented in stages. The strategy consists of an enhanced version of the company's BrioQuery Enterprise desktop decision support solution as well as several new components: a server product, browser plug-ins and integration with Web development tools. "Brio has always been a leader in developing innovative decision support technology for IT professionals," said Roger McNamee, general partner at Integral Capital Partners. "BrioQuery Enterprise is a very hot product in a very hot market - data warehousing. We are delighted to be joining the Brio investor team and look forward to enhancing the company's leadership position in the decision support software market." About George Wikle, Vice President of Corporate Solutions With 20 years experience in high-growth, high-technology companies, George Wikle assumes responsibility for accelerating customer adoption by delivering highly leveraged data warehouse solutions and improving Brio's customer end user productivity. Prior to joining Brio Technology, Wikle was the CEO and/or CFO See Chief Financial Officer. of three start-up companies. Most recently, he was President and CEO of ASCNet, Inc., makers of emergency cellular telephones, where he created strategic alliances with large and influential firms such as IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Hughes Electronics, AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. and AARP AARP, a nonprofit, nonpartisan national organization dedicated to "enriching the experience of aging"; membership is open to people age 50 or older. Founded in 1958 by Ethel Percy Andrus as American Association of Retired Persons, AARP now has over 30 million . Wikle holds a B.S. and M.B.A. from the University of California, Berkeley The University of California, Berkeley is a public research university located in Berkeley, California, United States. Commonly referred to as UC Berkeley, Berkeley and Cal . About Norman L. Vincent Norman Vincent joins Brio Technology's board of directors with more than 25 years of implementing and purchasing technology for State Farm Mutual Automobile Insurance Company. Based on his long tenure as a CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. , Vincent provides insight into customer needs and recommendations on product characteristics. Vincent holds a B.S. from the University of Wisconsin and a M.S. & Ph.D. from Purdue University. About Integral Capital Partners Based in Menlo Park, Calif., Integral Capital Partners is a family of private investment partnerships that invest in expansion stage private companies and growth stage public companies in the information and life sciences industries. Integral has made private investments in a wide range of companies, including Intuit, Documentum, Alantec, MapInfo, DAZEL, Calico, Ipsilon Networks and Whitetree. About Brio Technology, Inc. Based in Palo Alto, Calif., Brio Technology, Inc. provides desktop decision support solutions for the data warehouse. Brio's products target managers and sales, marketing and technical professionals who need to make knowledge based business decisions. The company's products are based on a patented desktop OLAP (OnLine Analytical Processing) Decision support software that allows the user to quickly analyze information that has been summarized into multidimensional views and hierarchies. OLAP tools are used to perform trend analysis on sales and financial information. architecture that is open, scalable and robust and requires virtually no change to existing IT platforms. A technology innovator since 1990, Brio Technology pioneered both the first graphical "drag and drop A graphical user interface (GUI) capability that lets you perform operations by moving the icon of an object with the mouse into another window or onto another icon. For example, files can be copied or moved by dragging them from one folder to another. " query tool and the first desktop OLAP product. The company's products and services are sold directly and through a world-wide network of distributors, system integrators and VARs. Sales offices are located in Palo Alto, Atlanta, Boston, Chicago, Cincinnati, Indianapolis, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Orlando, Raleigh, Washington DC and the United Kingdom. Brio Technology is a privately held, venture-backed corporation whose investors include Kleiner Perkins Caufield & Byers, Integral Capital Partners, and Novus Ventures. CONTACT: Brio Technology, Inc. Kathy Waite, 415/856-8000 or The Horn Group Bonnie Snow or Bill Cox, 415/579-6400 bonnie@horngroup.com billc@horngroup.com |
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