Delinea Corporation, Technology Specialist to the Energy Sector, Fueled by $6.6 Million of Series B Funding; Leading Energy Company and VCs Bring Industry Insight, Growth Opportunities, Capital.Business Editors & High-Tech/Energy Writers DALLAS--(BUSINESS WIRE)--Aug. 14, 2001 Delinea Corporation, a vertical service provider (VSP VSP - Very Simple Prolog+. ) committed to transforming energy enterprises through technology, has closed a $6.6 million second round of funding from global leaders in the energy industry and recognized 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] . Lead investors, Dynegy Inc. (NYSE NYSE See: New York Stock Exchange : DYN dyn abbr. dyne ) and Valley Ventures, joined existing investors Koch Ventures, Greenwood Gulch Ventures and the Delinea management team in backing the company. "In addition to capital, our new strategic and financial investors bring market intelligence, sales and partnership opportunities that help us continue to grow," said Ron Verner, chief executive officer, Delinea. "Their continued support, particularly in light of the more restrictive economic climate, is a testament to the VSP business model, and specifically to the energy market's need for Delinea's people, products and domain expertise." Delinea provides applications hosting, consulting and outsourcing services to energy companies. Delinea specifically targets the utilities, energy retail services and petroleum downstream markets, in which its management team boasts more than 100 years of combined experience. With the financing, Delinea will further develop its integrated vertical application platforms that combine best-of-breed and proprietary applications for utilities, energy retail services and petroleum refining and marketing companies. A small percentage will be used as working capital to help fund the company's continued growth. IDC predicts ASP revenues to increase from $986 million in 2000 to almost $24 billion in 2005, experiencing a compound annual growth rate (CAGR CAGR See: Compound Annual Growth Rate ) of 89 percent. "Our investment in Delinea is consistent with Dynegy's interest in investing in solid technology partners that can promote our knowledge-driven businesses in energy and communications," said Blake Young, president, Global Technology, Dynegy Inc. "We believe the combination of their innovative services, solid management team and strong financial forecast will lead to a strong return on our investment for both our technology and global communications groups." "Because Delinea understands the business issues and processes facing the energy industry and offers a complete solution aligned with its customers' core business objectives, we're confident it will become the de facto [Latin, In fact.] In fact, in deed, actually. This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. VSP for the energy sector," said Gregg Adkin for Valley Ventures II L.P. "We're investing in the VSP model because it uniquely combines technology acumen with real-world market experience," said Ray Gary, president of Koch Ventures. Koch Ventures is the investment arm of Koch Industries Koch Industries, Inc. (pronounced "koke") is a private corporation based in Wichita, Kansas. According to Forbes Magazine, it is the largest privately owned company in the world by revenue (surpassing Cargill in 2005 with the acquisition of Georgia-Pacific), with subsidiaries , Inc., the second largest privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. 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. , 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. Forbes. "Delinea is an excellent example. Their team brings every customer decades of industry experience that's invaluable in building the optimal business-technology platform." The company closed its first year in March, recording more than $14 million in revenue. Other milestones include major customer wins, such as Axia, Gulf South Pipeline, Dynegy, Koch Industries, Pacificorp, Entergy Corporation and Western Refining, and partnerships that include Peace Software, Radiant Systems, J.D. Edwards (J.D. Edwards & Company, Denver, CO, www.jdedwards.com) A developer of multinational, integrated enterprise software for distribution, finance, human resources, manufacturing and supply chain management. , SalesLogix and webMethods Inc. About Delinea Corporation Delinea Corporation, a vertical services provider (VSP), combines deep vertical industry knowledge and skills with a unified platform of digital solutions including application service provision (ASP), consulting and outsourcing. Delinea emphasizes a focused, Smart-to-Market(TM) approach to the design, development and management of its customers' technology environment. Delinea specializes in the energy sectors and possesses e-business development, applications hosting and management, systems integration and outsourcing experience that enables customers to concentrate on core operations as they transform their businesses. Formed in April 2000 and headquartered in Dallas, Delinea has 145 employees. More information about Delinea can be found at the company's Web site, www.delinea.com. About Dynegy Inc. Dynegy Inc. is a leading energy merchant and power generator in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , the United Kingdom and Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . A Fortune 100 company, in 2000 Dynegy established its communications business, Dynegy Global Communications, which is engaged in providing network solutions and connectivity to wholesale customers worldwide. About Valley Ventures Valley Ventures II, L. P. is a $29.4 million institutionally funded venture capital partnership with predecessor funds dating from 1985. The general partner is a team of experienced venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. investing in and assisting emerging growth companies in IT, Telecom, Microelectronics and Life Sciences in the southwestern region of the United States. About Koch Ventures, Inc. Scottsdale-based Koch Ventures Group has invested more than $170 million in venture capital transactions since 1996. Koch Ventures' investment portfolio includes Delinea, Datria, Vanion Cyclone cyclone, atmospheric pressure distribution in which there is a low central pressure relative to the surrounding pressure. The resulting pressure gradient, combined with the Coriolis effect, causes air to circulate about the core of lowest pressure in a Commerce, Primarion, Universal Access, Velocita Communications Inc., World Wide Packets and other firms. Current areas of investment focus are telecommunications products and services, e-commerce infrastructure products and services, specialty IT including ASP-based services, specialty finance, and environmental risk management and remediation. Koch Ventures is the venture capital investment arm of Koch Industries, Inc., a Wichita, Kansas-based firm that owns a diverse group of companies engaged in trading, investment and operations around the world. More information is available at www.kochind.com or www.kochventures.com . About Greenwood Gulch Ventures Greenwood Gulch Ventures, located in Denver, Colorado, is an angel fund investing in application software developers with a business-to-business and vertical focus. The fund takes an active role with most investments, assisting in bringing products to the market. Currently, the fund has 15 investments. |
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