Capstan Systems Inc. Raises $3 Million in Series B Equity Round; Orchid Holdings and Sterling Payot Company Fuel Internet Startup Growth.SAN FRANCISCO--(BUSINESS WIRE)--July 29, 1999-- Capstan capstan Mechanical device used chiefly on board ships or in shipyards for moving heavy weights by means of ropes, cables, or chains. A capstan consists of a drum, driven either manually or by steam or electricity, that rotates about a vertical axis to wind in a line wrapped Systems Inc., pioneers of TradeSite(TM), the first Internet-native global commerce execution and collaboration Working together on a project. See collaborative software. solution, today announced that it has secured $3 Million in a Series B round of funding from Orchid Group Holdings, L.P., Sterling Payot Company and other significant investors. "We see huge demand for our service from large manufacturers to help them with Global Commerce Execution and real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. collaboration. We will use this current capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. to aggressively go to market with Capstan's new family of products called TradeSite(TM)," said Ron Alvarez, Capstan's 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. . Capstan represents a new breed of Application Service Provider that helps companies break through traditional barriers of global commerce. By connecting organizations across the Web, Capstan instantly distributes and coordinates mission-critical data for all global trade partners. With the Capstan TradeSite solution, companies ensure they are effectively managing all phases of international commerce. The Capstan TradeSite family of products is an Internet-native suite of services designed to link all parties and manage the workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. for international trade transactions. Capstan reduces the average solution implementation time from months to just weeks. The TradeSite solution includes modules for Global Commerce Execution, Supply/Demand Management, real-time Collaboration, and Product Development Management. All of the TradeSite Modules are complete with built-in alerts and messaging, standard and custom reporting, and virtual conferencing See teleconferencing. tools, all using a central data repository See repository. . "Capstan is in an excellent position to build a significant and sustainable competitive advantage. We are partnering with Capstan because the company's business position and goals are aligned with our investment philosophy. "We have no doubt that the Executive Management at Capstan will make the right decisions in order to grow the business exponentially ex·po·nen·tial adj. 1. Of or relating to an exponent. 2. Mathematics a. Containing, involving, or expressed as an exponent. b. ," said Christopher O'Brien, a Partner of Orchid Group Holdings. "We believe Capstan has the unique combination of domain expertise and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the technology required to solve crucial international commerce problems. At the same time, they are defining and creating a new market for Application Service Providers. "By leveraging their clients' existing systems with an Internet-native application, Capstan is creating value at both the top- and bottom-lines," said Robert Smelick, Managing Principal of Sterling Payot Company. About Capstan Capstan, a Silicon Valley-based company, provides leading companies a hosted internet-native application for managing Global Commerce Execution and Collaboration. The Capstan solution benefits all global commerce partners by providing simultaneous access to data regardless of geography or time zone. Architected and optimized for use on the Internet, Capstan's solutions provide significant efficiency breakthroughs by allowing web-based, business-to-business collaboration on a real-time basis. The TradeSite solution is customer-driven, leveraging Capstan's technology and domain expertise with real world business needs and practices. Capstan's global focus will enable global companies to grow in today's just-in-time environment. Note to Editors: TradeSite(TM) is a registered trademark of Capstan Systems, Inc. |
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