MMC Capital Communications and Information Fund Announces $1.5 Million Investment in GlobeRanger Corporation.Business Editors NEW YORK--(BUSINESS WIRE)--August 8, 2000 The Marsh & McLennan Capital Communications and Information Fund (C&I Fund-www.cifund.com) has invested $1.5 million -- which is part of a $10.9 million first-round funding package -- in GlobeRanger Corporation (www.globeranger.com). GlobeRanger, based in Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. , is a leading provider of supply chain visibility and asset management services for business-to-business operations. GlobeRanger, which first announced the funding last month, will use the proceeds from the offering to complete beta trials of its products and to expand its sales and marketing initiatives. Co-investors in the company include Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , CenterPoint Ventures, and HO2, along with a previous seed round investment from business accelerator STARTech. 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. Robi Blumenstein, a C&I Fund principal, GlobeRanger's technology will provide valuable location information to carriers, shippers, and receivers, thereby improving efficiencies and lowering costs. "GlobeRanger offers a tremendous value proposition," Blumenstein says, adding that "this represents an excellent opportunity for us to leverage the extensive industry knowledge of Mercer mer·cer n. Chiefly British A dealer in textiles, especially silks. [Middle English, from Old French mercier, trader, from merz, merchandise, from Latin merx Management Consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and the worldwide insurance relationships of our sister company, Marsh, Inc." The C&I Fund draws on the private equity investing expertise of MMC See MultiMediaCard and Microsoft Management Console. Capital and the global relationships, industry knowledge, and strategic expertise of Mercer Management Consulting. GlobeRanger Corporation is a leading provider of supply chain visibility and asset management services for business-to-business operations. Founded in 1999, GlobeRanger is a privately-held company based in Richardson, Texas. |
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