Celarix Closes $17 Million In Additional Funding; Austin Ventures Leads Round And Validates Company's Impact In Supply Chain Event Management Space.Business Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 9, 2002 Celarix, Inc. (www.celarix.com), the leading provider of supply chain visibility and connectivity solutions, today announced it has raised $17 million in a mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. round of financing, led by Austin Ventures, one of the largest venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] 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. . Austin joins Celarix' existing investors, who also participated in this latest round of funding, to bring the total investment in Celarix to more than $75 million. In addition to Austin Ventures, all of Celarix' investors, including Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Ventures, JP Morgan Partners, TL Ventures, Integral Capital Partners and Technology Crossover Crossover The point on a stock chart when a security and an indicator intersect. Crossovers are used by technical analysts to aid in forecasting the future movements in the price of a stock. In most technical analysis models, a crossover is a signal to either buy or sell. Ventures, funded this round because of their continued confidence in Celarix' business model, its experienced management team, proven success with customers, and continuous achievements with meeting financial and operational goals. Celarix will use the funding for operations and further product development, while expecting to achieve break-even in the next six months. "Our decision to lead this investment was based largely on the rapid growth of the Supply Chain Event Management space, the differentiated positioning of the company as a network-based solution provider, the company's progress with existing customers and its proven success with new customers," said Ross Cockrell, general partner for Austin Ventures. "We think Celarix is the leading vendor in this space. Celarix has a very compelling value proposition and we view the company as a very strong addition to our portfolio." "We have experienced rapid growth in our customer base and revenue since the company's inception in 1998 by focusing on performance improvement opportunities in the extended supply chain. Our investors have demonstrated tremendous confidence in our accomplishments and our dedication to providing significant return on investment for every customer," said Jim Daniell Jim Daniell (born March 10, 1918) was an American football player. He was elected to the College Football Hall of Fame in 1977. He played professionally for the Chicago Bears , 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. for Celarix. "In a challenging economy, this funding is the ultimate validation of our business model." About Celarix Based in Cambridge, Mass., Celarix (www.Celarix.com) is the leading provider of supply chain visibility and connectivity solutions for Global 2000 companies striving to realize performance improvements beyond the "four walls" of their enterprise. Celarix solutions enable customers, including Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Sharp Electronics, Lowe's, Abercrombie & Fitch, and TruServ, to quickly realize new supply chain performance improvements through faster cycle times, lower inventory costs and more predictable delivery. |
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