Compete, Inc. Secures Over $10 Million in Oversubscribed Series C Round; Financing to Accelerate Compete's Continued Expansion and Market Penetration.Business/Technology Editors BOSTON--(BUSINESS WIRE)--June 3, 2002 Compete, Inc., a leading business intelligence firm that provides Fortune 1000 companies with competitive insights and strategies to optimize key business decisions, today announced it has successfully raised over $10 million in its oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. Series C round of financing. Lead by new investor St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Venture Capital, the round also includes 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, an original investor, and North Hill Ventures, an affiliate of Capital One Financial Corp. Founded in October 2000, Compete offers business intelligence solutions and services to industry-leading companies in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , automotive, media & entertainment, and retail & consumer products. Built upon the industry's foremost pool of consumer behavior data, representing over 10 million Internet users, Compete's integrated offerings provide decision makers with an unprecedented understanding of customer and competitor dynamics, plus performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. and business recommendations to isolate and address their strategic challenges. Based on a patent-pending, proprietary approach to data management, designed to rapidly process multiple terabytes of data, Compete translates consumers' online research, purchase and usage behavior into highly actionable information that targets companies' offline business issues such as demand forecasting, pricing and promotions, marketing programs and product optimization. "We are delighted to lead this round of financing. Compete has all of the criteria we look for: it solves a real and very large business problem for Fortune 1000 customers; it has a strong, defensible market position; it has a blue chip list of customers; and it has an experienced management team," said St. Paul Venture Capital general partner Jim Simons Jim Simons may refer to:
Since the public launch of the company in September 2001, Compete has rapidly expanded its client base, attracting industry-leading clients including Visa, Fidelity, Forbes, USA Today USA Today National U.S. daily general-interest newspaper, the first of its kind. Launched in 1982 by Allen Neuharth, head of the Gannett newspaper chain, it reached a circulation of one million within a year and surpassed two million in the 1990s. , and Microsoft. Compete's new funding will enable the company to continue its aggressive sales and marketing effort, and increase the company's overall market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . Ted Dintersmith, General Partner at Charles River Ventures added,"Compete has exceeded all of my expectations since their initial round of financing in the fall of 2000 including building a great product, developing relationships with more than a dozen lighthouse customers, and putting in place a top management team. Charles River Ventures is enthusiastic about participating in this expansion round, and excited about the company's prospects. The company is demonstrating that the real value of the Internet to Fortune 1000 companies may not be in driving e-commerce transactions, but in the ability to develop clear insights into customer behavior and business strategies. By becoming the partner of choice for their clients' business intelligence needs, Compete is building the foundations for revenue growth and true competitive advantage." Man Jit Singh, Compete's 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. , commented, "We fundamentally believe that companies who can incorporate, into their strategies, fast, accurate and actionable information on the interplay of their customers and competitors can achieve real revenue and profit gains in any business environment. This financing is a testament to our unique ability to solve clients' most pressing business needs and reflects the outstanding client momentum we have attained. We are delighted by this vote of confidence from each of these investors." About Compete Compete, Inc. is a premier business intelligence firm that provides industry-leading companies with competitive insights and strategies to optimize their key business decisions. Built upon the industry's foremost pool of consumer behavior data, representing over 10 million Internet users, Compete provides an unprecedented understanding of customer and competitor dynamics, plus performance metrics and business recommendations to isolate businesses challenges and opportunities. Based on a patent-pending approach to data management, Compete translates consumers' online behavior into highly actionable information that targets companies' strategic business issues including demand forecasting, pricing and promotions, marketing programs and product optimization. Compete offers its solutions to financial services, automotive, media & entertainment, and retail & consumer products companies. Compete licenses detailed clickstream The trail of mouse clicks made by a user performing a particular operation on the computer. It often refers to linking from one page to another on the Web. data representing the online behavior of Internet users, and strongly supports individual privacy and does not license personally identifiable information In information security and privacy, personally identifiable information or personally identifying information (PII) is any piece of information which can potentially be used to uniquely identify, contact, or locate a single person. . About Compete's Investors St. Paul Venture Capital St. Paul Venture Capital is one of the largest early-stage 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. with $3 billion in committed capital and offices in Boston, Minneapolis and Silicon Valley. The firm, founded in 1988, invests primarily in the areas of Communications Technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry ; Software and Services; and Health Care. Additional information can be found at the firm's website at www.spvc.com. Charles River Ventures Founded in 1970, Charles River Ventures (CRV CRV Curve CRV Crew Return Vehicle (NASA) CRV California Redemption Value CRV Cassa Di Risparmio Di Vignola (Italian bank) CRV Call Reference Value (telecommunications) ) is one of the nation's oldest and most successful early-stage venture capital firms with $1.4 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in the data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. and software & services sectors. To build these companies, CRV provides entrepreneurs with access to a unique combination of financial backing, start-up operations expertise and strategic business services. Over the past 10 years, CRV funds have been ranked among the industry's top performers. This superior investment record includes leading companies such as Cascade, Chipcom, CIENA, iBasis, Sonus Networks, SpeechWorks International and Vignette. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com. North Hill Ventures North Hill Ventures, based in Boston, is a venture capital firm focused on investments in leading-edge financial services, information technology, direct marketing, and telecommunications companies. North Hill is the venture capital affiliate of Capital One Financial, the multi-billion dollar financial services company. In addition to Compete, the North Hill portfolio includes investments in Marketswitch, Veridiem, and Openpages. |
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