DecisionPoint Software Closes $5 Million in Series B Financing; Battery Ventures Increases Investment in Financial Performance Management Software Firm.Business Editors/High-Tech Writers SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--June 1, 2004 DecisionPoint(R) Software, a provider of financial performance management software, announced today that Battery Ventures has invested an additional $5 million in Series B financing to support the company's rapid growth. DecisionPoint will use the new capital to finance additional product development and expansion of its sales, marketing and business development to keep pace with growing customer demand. "DecisionPoint provides Global 2000 customers with the financial transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. that we believe is critical to enterprises today," said Mark Sherman of Battery Ventures. "We believe DecisionPoint's strong management team, led by 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. Bart Foster, its core technology aimed at the emerging financial performance management market and its growing list of marquee customers both in the US and Europe, all point to a company well armed to dominate its market." DecisionPoint provides financial performance management software that is designed to capture and distribute timely and accurate financial information for an enterprise from different divisions, different source databases, different countries and different time periods. The DecisionPoint solution is comprised of a suite of integrated products, ready to implement "out of the box" that provide one central repository (1) A database of information about applications software that includes author, data elements, inputs, processes, outputs and interrelationships. A repository is used in a CASE or application development system in order to identify objects and business rules for reuse. from which to gather all financial information across the organization. "We believe that the additional funding from Battery reaffirms our strong position and strength in the financial performance management market and our mission to provide enterprises with the tools they need to consistently report, monitor and analyze the financial results of operational activities across the enterprise," said Bart Foster, CEO and president of DecisionPoint. "Our growing list of customers comes at the same time as finance is transforming itself into a more strategic partner within the enterprise, driving proactive monitoring and management and automating the financial processes in complex organizations." About DecisionPoint Software DecisionPoint Software provides financial performance management software that enables organizations to monitor, analyze and report on financial performance throughout the enterprise. DecisionPoint's solution centralizes both financial data and finance-centric operational data to improve decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from across the full range of business functions including finance, distribution, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and manufacturing. Using intelligent sourcing, a finance-centric data warehouse and an integrated analytic an·a·lyt·ic or an·a·lyt·i·cal adj. 1. Of or relating to analysis or analytics. 2. Expert in or using analysis, especially one who thinks in a logical manner. 3. Psychoanalytic. and reporting environment, DecisionPoint can get companies up and running with a strategic business intelligence solution in eight weeks or less. Global 2000 companies using DecisionPoint include Albertsons, British Telecom The telephone and communications carrier that provides services in Great Britain and Northern Ireland. It used to be a division of the British Post Office, but was privatized in 1984 under Margaret Thatcher's administration. , Sony, Quantum and Imation. Founded in 1996, DecisionPoint is headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. with international offices in Maidenhead Maidenhead, city (1991 pop. 59,809), Windsor and Maidenhead, S central England, on the Thames River. It is a residential town with brewing and milling industries as well as a resort. The 13th-century stone bridge was rebuilt in the 1770s. , United Kingdom. About Battery Ventures Battery Ventures is a leading venture capital firm focused on investing in technology companies at all stages of growth. With a team of over 25 experienced investment professionals, Battery leverages its people, expertise and capital to actively guide companies to category dominance. The firm has invested in over 160 technology companies worldwide across the communications, software, infrastructure, and media and content industries. From its offices in Wellesley, MA and San Mateo, CA the partnership manages over $1.6 billion in committed capital. The firm's exceptionally strong investment returns have given it one of the best track records in the industry. Editors note: All product and company names mentioned herein are the property of their respective owners. |
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