SAQQARA Systems Secures $29.8 Million in Latest Round of Funding; Cross Atlantic Capital Partners and Dresdner Kleinwort Capital Lead Series C Financing.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Feb. 12, 2001 SAQQARA(R) Systems, Inc., a leading provider of product content software and services for business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) e-commerce, today announced the close of its third round of financing in the amount of $29.8 million. This round of funding brings the total capital invested in SAQQARA to $45.8 million. The Co-Investment 2000 Fund, managed by Cross Atlantic Capital Partners, and Dresdner Kleinwort Dresdner Kleinwort (DKIB) is the investment bank of Dresdner Bank AG, part of Allianz since July 2001. Headquartered in London and Frankfurt and with an international network including offices in the financial centres of New York and Tokyo, Dresdner Kleinwort provides a wide range Capital led the financing and were joined by Edgewater Funds, GE Capital, Liam Ventures and Vision Capital. The funds will be used to expand SAQQARA's global sales and marketing infrastructure, enabling the company to take advantage of the rapidly growing global market opportunity for product content transformation, management and exchange solutions. SAQQARA will also continue to invest extensively in market leading technology. "Cross Atlantic believes that companies providing the technology for B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. infrastructure, such as SAQQARA, are best positioned to take advantage of today's market opportunities," said Richard Fox For other persons named Richard Fox, see Richard Fox (disambiguation). Former ten time world Slalom champion for Great Britain, Richard Fox (born 6 May 1960) moved to Australia in 1998 to take up a position as the National Head Coach for the Sydney Olympics. , managing director of The Co-Investment 2000 Fund. "SAQQARA has proven itself through the thoughtful planning and flawless execution of its business plan. We were very impressed by the company's experienced management team, proven technology, wide customer base and outstanding base of key industry partners." Since the company's last round of financing, closed in December of 1999, SAQQARA has exceeded all operating goals and dramatically expanded its customer base with clients such as 3M, Alcatel, Fairchild, GE Power Systems and The Stanley Works. Additionally, SAQQARA has made great strides in striking strategic partnerships with B2B market stalwarts including Ariba, Commerce One, Oracle and Vignette. "We are excited to have Cross Atlantic Capital Partners and Dresdner Kleinwort Capital as investors in SAQQARA. We appreciate the support that we have received from all of our investors as we continue to break new ground in supplier enablement Supplier Enablement is the process of electronically connecting suppliers (or other trading partners) to a company's supply chain. Supplier enablement is achieved when suppliers of goods and services are connected to a company's back-office systems to exchange critical business ," said Robert R. Payne, 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. , SAQQARA Systems, Inc. "By focusing on and delivering concrete results we have been able to attract a strong investor group that can assist SAQQARA in our rapid growth. We are confident that SAQQARA will continue to grow and prosper by helping our clients increase their e-commerce revenues and improve customer satisfaction." SAQQARA solutions address the needs of a wide range of B2B suppliers -- manufacturers, Net market makers and distributors -- to create branded and differentiated product content that allows them to market and sell over the Internet. SAQQARA delivers a comprehensive solution that enables suppliers to maximize their e-commerce results by implementing a product content transformation, management and exchange (TME See Tivoli Systems Management Software. ) strategy. Over the past year, SAQQARA has expanded its products and services with the addition of new products and product enhancements. SAQQARA Commerce Suite(TM) now includes capabilities for marketing analysis, guided selling Guided Selling is a concept that enhances the sales process of customer specific products and services. Guided Selling enables organizations in an automated fashion to analyze customer needs, determine the proper features, products and services and to translate the result into a , catalog interoperability and a flexible Web storefront. The new SAQQARA ContentWorks(TM) is a powerful new software application that simplifies and automates the complicated and labor-intensive task of creating e-commerce-ready product content. SAQQARA Cornerstone(TM) is an application service provider (ASP) solution offering application hosting, content conversion services and Internet-wide product content syndication delivered through a fully outsourced, cost-effective solution. About Cross Atlantic Capital Partners Cross Atlantic Capital Partners (XACP) is a venture capital management firm operating several venture funds, including the Cross Atlantic Technology Fund (XATF) and The Co-Investment 2000 Fund (CI 2000). With offices in London, England; Dublin, Ireland; and Radnor, Pennsylvania Like many of the elite communities of Philadelphia's Main Line, Radnor is a picturesque enclave in Radnor Township, Pennsylvania in Delaware County. Part of Radnor is also in Tredyffrin Township, Pennsylvania in Chester County. , in the US, XACP is uniquely qualified to promote the growth of its portfolio companies due to its "Cross Atlantic Network" of advisors, strategic relationships, geographic presence, and experienced professionals. For more information visit http://www.xacp.com/. About The Co-Investment 2000 Fund The Co-Investment 2000 Fund is a $150 million venture capital fund specializing in co-investments with other venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: . Funded by lead investor Pennsylvania Public School Employees' Retirement System (PSERS PSERS Public School Employees' Retirement System ), CI 2000 is managed by Cross Atlantic Capital Partners. Other members of the general partner include American Manufacturing Corporation and Janney Montgomery Scott LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . CI 2000's objective is to create a balanced portfolio of investments representing the best opportunities from the spectrum of venture funds in which PSERS has invested. About Dresdner Kleinwort Capital Dresdner Kleinwort Capital is the new brand name being introduced in January 2001 for Dresdner Kleinwort Benson Private Equity and is the sole private equity business of Dresdner Kleinwort Wasserstein, the Investment Banking Division of the Dresdner Bank Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt. History 19th century Dresdner Bank was established on 12 November 1872 through the conversion of financial institution Michael Kaskel. Group. Dresdner Kleinwort Capital currently has in excess US$4 billion in equity and mezzanine funds under direct and co-advisory management globally and fifteen investment teams managing investments in medium size LBO/MBO/MBI, emerging growth and VC transactions across Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , Central & Eastern Europe, the Americas and Asia. Investments are made with Dresdner Bank capital and funds committed by third parties to investment vehicles sponsored or co-sponsored by Dresdner Kleinwort Capital. DrKC employs 165 people in 15 locations. For more information see Web site http://www.dresdnerkc.com About SAQQARA Systems, Inc. SAQQARA is the leading provider of end-to-end product content software and services for business-to-business (B2B) e-commerce. With the SAQQARA family of solutions for product content transformation, management and exchange (TME), including SAQQARA Commerce Suite, SAQQARA ContentWorks, SAQQARA Cornerstone e-commerce application service provider solution and SAQQARA WhoMakesIt, B2B suppliers can deliver rich product content over the Internet and buyers can quickly and easily find, compare and select the products that best meet their requirements. SAQQARA solutions have been selected by leading companies including 3M, Aeroquip, Agilent, GE and Philips Semiconductors to power their e-commerce initiatives. SAQQARA is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation with headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. and European operations based in Paris, France. For further information about the company and its products, visit http://www.saqqara.com or call 408-325-8200 or toll free 877-964-0100. SAQQARA Commerce Suite, SAQQARA ContentWorks, SAQQARA Cornerstone and SAQQARA ProductServer are trademarks, and Step Search, WhoMakesIt, the SAQQARA name and the SAQQARA logo are registered trademarks of SAQQARA Systems, Inc. All other company names mentioned herein are registered trademarks or trademarks of their respective owners. |
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