Demandware Secures $12 Million in Series B Funding.WOBURN, Mass. -- -- Co-led by General Catalyst and North Bridge Venture Partners, Investment Underscores Support of Demandware's Ecommerce Delivered as SaaS Model-- Demandware, Inc. (www.demandware.com), provider of the Software as a Service (SaaS)-based ecommerce platform that offers merchants the optimal combination of control, flexibility and a usage-based pricing model, today announced that it has raised a $12 million Series B round of funding, bringing its total raised capital to $22 million. The round was co-led by both of Demandware's Series A investors, General Catalyst Partners and North Bridge Venture Partners, with participation from Demandware management. The financing will be used to support the continuous enhancement of Demandware's ecommerce solution functionality, support its hiring plans, and expand the Company's sales and marketing activities in order to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the market opportunity for ecommerce solutions. "We are pleased to have received a vote of confidence from both of our Series A investors through this latest round of funding," said Stephan Schambach, 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. of Demandware. "Both Larry Bohn of General Catalyst Partners and Michael Skok of North Bridge Venture Partners are experienced and knowledgeable investors in this market space. Our management team is looking forward to working with Larry and Michael to build on our mutual success, leveraging the tremendous knowledge, experience and network of contacts that they offer." Demandware's SaaS-based ecommerce solution enables retailers to meet their ecommerce revenue and profitability goals with a unique combination of merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. control; the flexibility to adapt ecommerce functionality to meet changing business needs; and the optimal profitability that only a usage-based, Software as a Service-enabled pricing model can provide. The company was founded in the spring of 2004 by Schambach, who earlier founded Intershop, a leading provider of e-commerce software for centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. management of all online business channels Business channels are TV channels that concentrate on business news. List of channels
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on listing in 2000. "The Demandware team executed on its vision of developing the first fully customizable, on-demand ecommerce solution," said Larry Bohn, managing director, General Catalyst Partners. "This is a tremendous accomplishment that is further complemented by a terrific customer list that includes Vermont Teddy Bear teddy bear cuddly commodity named after President Theodore Roosevelt. [Am. Hist.: Frank, 46] See : Cuteness , Gardener's Supply, Zabars, Ansel Adams and Goldspeed.com, among others. Undoubtedly, Demandware has made significant progress since our initial investment and we look forward to working with the team to increase the company's footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. and continue to deliver the best on-demand ecommerce product in the marketplace." "Delivering an eCommerce platform using a Software as a Service model presents clear benefits to the rapidly-expanding online retail market," said Michael Skok, general partner of North Bridge Venture Partners. "Demandware is spearheading the movement by providing merchants with the merchandising control, flexibility, functionality and interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. of a full ecommerce application suite with a usage-based pricing model. Demandware's excellent customer traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. gives us further confidence in this delivery model and this team's ability to execute." 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. Gartner, Inc.'s research report, "Software as a Service Will Be Business Model of Choice by 2008," more than 50 percent of software purchased will be via service by 2008. Demandware is also at the forefront of the exploding online retail market. According to technology and market research company Forrester Research's "State of Retailing Online 8.0" study, online shopping continues to grow. Online sales for 2005 are expected to reach $172 billion - which represents a 22% increase over 2004 - while the number of U.S. households shopping online is expected to reach 37.4 million. About Demandware, Inc. Demandware provides an enterprise-class ecommerce platform, delivered as a service, which offers online retailers the merchandising control, flexibility, functionality and interoperability of a full ecommerce application suite with a usage-based pricing model. With Demandware, merchants can deliver custom ecommerce solutions without buying software or operating expensive datacenters. Demandware was founded by a team with proven expertise from leading ecommerce software and infrastructure companies including ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant , Macromedia, Intershop and NaviSite. The company has strong backing from North Bridge Venture Partners and General Catalyst Partners. For more information about Demandware, visit http://www.demandware.com. About General Catalyst Partners General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com. About North Bridge Venture Partners North Bridge Venture Partners is an active, early-stage venture capital firm based in the Boston area. With approximately $1.3 billion under management, North Bridge focuses on investments in the communications, software and other technology markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills and an in-depth understanding of both private and public financings. Past investments include ArrowPoint Communications, Cascade Communications Cascade Communications was a Westford, Massachusetts based manufacturer of communications equipment. Founding Cascade was founded by Desh Deshpande in 1990, and was led by CEO Dan Smith. Product Cascade made a compact Frame Relay system. , eRoom Technology, Phase Forward, Solidworks, Sonus Networks, Sycamore sycamore: see plane tree. sycamore Any of several distinct trees called by the same name though in different genera and families. In the U.S. the term refers to the American plane tree or buttonwood (Platanus occidentalis), a hardy street tree. Networks and Wellfleet Communications Wellfleet Communications was an Internet router company based in Billerica, Massachusetts. In an attempt to more effectively compete with Cisco Systems, it's chief rival, it merged in October, 1994 with SynOptics Communications of Santa Clara, Calif to form Bay Networks in a deal . For more information about the company, please visit www.nbvp.com. |
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