V3 Systems Secures $11.5 Million in Series A Venture Funding.Business Editors CHARLOTTE, N.C.--(BUSINESS WIRE)--Aug. 14, 2002 Strong Syndicate to Fuel Aggressive Global Sales and Marketing Expansion and New Product Extensions for Leading Supply Chain Execution Company V3 Systems, the recognized leader in providing innovative enterprise supply chain execution and warehouse management applications for automating business processes and providing supply chain visibility across global distribution networks, announced today it has received $11.5 million in a Series A private placement from four top-tier Mid-Atlantic-based venture firms. Sterling Venture Partners led the round with Draper drap·er n. Chiefly British A dealer in cloth or clothing and dry goods. [Middle English, weaver or seller of cloth, from Old French drapier, from drap, cloth; see Atlantic Management, SpaceVest, and Updata Venture Partners all participating in the syndicate. Hyde Park Hyde Park, park, London, England Hyde Park, 615 acres (249 hectares) in Westminster borough, London, England. Once the manor of Hyde, a part of the old Westminster Abbey property, it became a deer park under Henry VIII. Capital Advisors of Tampa, Fla. served as V3 Systems' investment bank in this offering. The round, which was significantly 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. despite current market conditions, is among the largest Southeast placements in 2002 and a notable private placement in the national enterprise supply chain execution and warehouse management software sector. It indicates investors' validation of V3 Systems' capabilities to become a leading provider of supply chain execution software (SCE SCE (in Scotland) Scottish Certificate of Education SCE n abbr (= Scottish Certificate of Education) → Schulabschlusszeugnis in Schottland ) to an underserved global market. "With a strong entrepreneurial management team, highly differentiated products, scalable business model, `Blue Chip' customer base, and large market opportunity, we feel V3 Systems is well positioned to move to the forefront of the SCE space," stated Brian Hirsch, Principal, Sterling Venture Partners. The proceeds of this financing provide V3 Systems the capital necessary to expand global sales and marketing campaigns, increase product development commitments, and support international deployment of its supply chain and warehouse management software, which has seen wide acceptance in the U.S., European, and Asian markets. "V3 has more recently shown its ability for substantial growth, with 150% actual and 50% estimated growth for 2000-01 and 2001-02 respectively," said Jonathan Sroka in the AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Research Alert, August 8, 2002. (AMR Research is the Boston-based strategic advisory firm.) "Using the Microsoft platform, V3's strategy is to present itself as a viable alternative for Tier 2 and Tier 3 installations by capitalizing on scalable hardware, while providing a more manageable installation and a flexible configuration for greater market appeal." "I am excited to share these fantastic results with our employees, our partners, our customers, and our prospects. The investment in V3 Systems is tangible recognition of our capability to create and implement a product of value. This financing will enable V3 Systems to enter new markets with the features and functions our customers desire," said Ashley Campbell, president and chief executive officer of V3 Systems. "Since our inception, V3 Systems has proven its ability to turn opportunity into reality. Through innovative software, rapid installation, and attentive at·ten·tive adj. 1. Giving care or attention; watchful: attentive to detail. 2. Marked by or offering devoted and assiduous attention to the pleasure or comfort of others. service we have been able to drive a strong return on investment and shareholder value for our customers." V3 Systems makes, markets, and installs enterprise supply chain execution applications that offer a wide variety of functionality, including modules that manage receiving, multi-owner inventory management, order management, RF-directed picking and packing, shipping, billing, querying and reporting. V3 Systems also accommodates multi-tiered Web-based supply chain visibility through the "V3 Digital Dashboard (software) digital dashboard - A personalised desktop portal that focuses on business intelligence and knowledge management. Microsoft's version has a launch screen including stock quotes, voice mail and e-mail messages, a calendar, a weather forecast, traffic information, ," which allows anyone with a secure login Signing in and gaining access to a network server, Web server or other computer system. The process (the noun) is a "login" or "logon," while the act of doing it (the verb) is to "log in" or to "log on. to view supply chain information, key performance measurements and the disposition of shipments from anywhere they have access to a Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . V3 Systems' customers include Tier One and Two blue chip manufacturers Compaq, Dell, Nokia, Visteon, Alcatel, Nortel, Rheem, Furman Foods, Dillen Products, Bonset America, Goulston Technologies, All-Clad MetalCrafters and leading third party logistics concerns, Eagle Global Logistics, TNT TNT: see trinitrotoluene. TNT in full trinitrotoluene Pale yellow, solid organic compound made by adding nitrate (−NO2) groups to toluene. Logistics, USCO USCO Unsafe School Choice Option Logistics, Applied Textiles, MagRabbit, Robertson Marketing and Signature Distribution. "In today's very tough capital markets, it is truly gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to have garnered this level of investment, especially from venture funds known for their shrewd choices," Campbell continued. "Sterling Venture Partners, Draper Atlantic, SpaceVest, and Updata clearly recognize the enduring value V3 Systems brings to the enterprise supply chain execution applications market, see the expansive market opportunities, and has taken an ownership position in what we all believe is today's leading company in the SCE space." Hirsch commented, "As lead for the syndicate, Sterling Venture Partners has found in V3 Systems a company of remarkable leadership and rock-solid technology. Since its inception, and especially in the past two years, V3 Systems has experienced exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. , as it has won A-list customers on three continents. We have long sought companies of this caliber and welcome V3 Systems to our growing list of portfolio companies." About V3 Systems V3 Systems is the recognized leader in providing innovative enterprise supply chain execution and warehouse management applications for automating business processes and providing supply chain visibility across global distribution networks. Software from V3 Systems turns demand into revenue by optimizing logistics, warehouse management, manufacturing and enterprise distribution processes. Responding to an industry demand for Web-delivered enterprise applications and collaborative commerce, V3 Systems offers both traditional server-based supply chain execution solutions and flexibly priced, hosted solutions with the capability to deploy secure inventory and demand management functionality across multiple locations and business partner networks. V3 Systems provides global service and support for its solutions from locations in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Texas, California, Florida, Singapore, and Australia. For more information about V3 Systems supply chain execution solutions visit www.V3Systems.com or call (877) 343-0057. About Sterling Venture Partners Sterling Venture Partners is a $136 million venture capital fund focused on early-stage investments in businesses in the Mid-Atlantic and Midwest. With offices in Baltimore and Chicago, Sterling Venture Partners is affiliated with Sterling Partners, a private investment firm. Sterling Venture Partners focuses on opportunities in information technology, technology-enabled business services, education, healthcare services and healthcare technology. For more information about Sterling Venture Partners, visit www.sterlingcap.com. About Draper Atlantic Draper Atlantic is an early stage information technology venture capital firm based in Northern Virginia Northern Virginia (NoVA) consists of Arlington, Fairfax, Loudoun, and Prince William counties and the independent cities of Alexandria, Falls Church, Fairfax, Manassas, and Manassas Park. and an affiliate fund of the leading early stage information technology venture capital firm, Draper Fisher Jurvetson Draper Fisher Jurvetson (DFJ) is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $4.5 billion in capital commitments. . Draper Atlantic and the Draper group of funds group of funds See family of funds. have developed a network of more than 200 highly successful portfolio companies with an emphasis on information technology. Draper Atlantic seeks entrepreneurs with the energy, vision, experience and desire to build great companies, and helps those entrepreneurs succeed through hands-on team building, partnerships, advice and support. For more information on Draper Atlantic see www.draperatlantic.com or Draper Fisher Jurvetson at www.dfj.com. About SpaceVest SpaceVest, a venture capital firm managing approximately $300 million across three funds, has attracted global institutional limited partners for over a decade. The firm, which pioneered investing in space-related technology companies, has evolved into a broader focus, which includes companies that leverage advanced technologies. SpaceVest typically leads expansion-round syndicates in US-based companies. For more information about SpaceVest, visit www.spacevest.com. About Updata Venture Partners Updata Ventures Partners is the venture capital and private equity Affiliate of Updata Capital, Inc., a leading investment bank specializing in mergers and acquisitions for the IT industry. The professionals at Updata Venture Partners have a highly successful history in industry operational roles and as investors in early stage technology companies. By leveraging the extensive network of Updata Capital and other strategic relationships, their primary objective and mission is to provide entrepreneurs the tools and management experience of the partners in building their companies into leadership positions within their respective fields. The firm has a primary emphasis on opportunities emanating from the convergence of information technology and telecommunications. For additional information visit www.updataventures.com. About Hyde Park Capital Advisors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control Hyde Park Capital is a boutique Boutique A small investment firm specializing in offering specific, but limited services to a select number of individuals. Notes: These investment firms are the alternatives to large financial supermarkets. They provide a highly personalized environment for investing. investment bank that specializes in private equity offerings and mergers and acquisitions for middle market technology and healthcare companies. Hyde Park Capital is one of the fastest growing technology and healthcare focused investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. in the Southeast and Mid-Atlantic regions of the US. The company is headquartered in Tampa, Fla. and is a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . For additional information about Hyde Park Capital visit www.hydeparkcapital.com. |
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