Federation, Inc. Closes Investment Round of $6.75 Million.Business Editors, Technology Writers ENGLEWOOD, Colo.--(BUSINESS WIRE)--Oct. 30, 2002 Federation(R), Inc. (www.federationweb.com), an innovative provider of global content repository solutions for engineered products, announced today that it has successfully closed $6.75 million in preferred series financing. Colorado-based Wolf Ventures led the round along with prior investors Paul Baan's Stichting Noaber Beheer Foundation and Ovation Capital Partners. New investors participating in this round include Zon Capital Partners, Hyperion Israel Venture Partners, Rotch Group and Firtona Investments. "OEM's can develop higher-quality products, faster and cheaper if their engineers have access to the most up-to-date design information across the extended supply chain. Federation has developed the first vendor-neutral solution to this daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin engineering problem," said Steven Joanis, a Partner with Wolf Ventures. "Clearly, this type of technology will be instrumental for large OEM's to realize the potential of the massive investments they have made in PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design and PDM (1) (Product Data Management) An information system used to manage the data for a product as it passes from engineering to manufacturing. The data includes plans, geometric models, CAD drawings, images, NC programs as well as all related project data, notes and technologies." "We are very pleased with the success of the financing round which was 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. in an especially challenging venture capital environment," said President and 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. Andrew Lukes. "This further validates Federation's collaborative technology platform which provides a revolutionary way for organizations to exchange mission-critical product engineering content in an increasingly global, multi-site design environment." "Much has been written about the difficulty of bringing together complex product engineering content from multiple participants in a product's development lifecycle," states John Moore John Moore may be: Clergy
n. The tendency to oversimplify an issue or a problem by ignoring complexities or complications. [French simplisme, from simple, simple, from Old French; see simple patches and proprietary work-arounds, these solutions rarely, if ever, dealt with dynamic real-time updating of such information, an issue that has become increasingly critical in today's market. Federation, in taking a fresh view of this problem, is bringing to market a solution that just may tackle this problem once and for all, something that will be embraced with open arms by companies that continue to struggle with this problem." The new capital will be used primarily to expand sales and marketing efforts for Federation's patent-pending Global Content Repository technology, which allows multi-site enterprises to seamlessly update and share in real-time design and product information located in disparate systems across the supply chain and among numerous partners. With the Federation Global Content Repository, customers can optimize optimize - optimisation the real-time exchange of complex information reducing costs, improving quality and decreasing time-to-market. On large and complex projects this can mean significant savings in engineering time, scrap, rework re·work tr.v. re·worked, re·work·ing, re·works 1. To work over again; revise. 2. To subject to a repeated or new process. n. and overhead. About Federation Headquartered in Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. , Federation develops software for global manufacturing organizations seeking to improve the product development process. This new enterprise application software facilitates the seamless flow of all design and product information as it is created or revised between all partners in the design and manufacturing process in global multi-site enterprises, as well as in online communities of OEMs and their suppliers. Federation is the only company providing a vendor neutral solution to the manufacturing community. Federation has raised approximately $16.75 million in financing since its formation in 1998. For additional information please visit Federation at www.federationweb.com. |
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