Vendavo Raises $15 Million.
PALO ALTO, Calif., Sept. 7 /PRNewswire/ -- Vendavo, the leading provider of price management software, today announced that it has secured $15 million in a series E round of funding. The round was led by Mesirow Financial, a major independent financial services firm, and was also joined by existing investors DCM -- Doll Capital Management, InterWest Partners, Sigma Partners and Split Rock Partners. Thomas E. Galuhn, senior managing director, private equity at Mesirow Financial, will join Vendavo's board of directors. To date, the company has raised $60 million in venture capital investment.
In a July 2005 report on the Price Management and Profit Optimization (PMPO) market, Yankee Group, a leading industry analyst firm, noted Vendavo's strength in the chemical, high-tech and manufacturing industries, as well as its thought leadership. Program Manager Kosin Huang, who authored the report, noted Vendavo "will expand on the value proposition of PMPO solutions and push the product direction for the entire category."
"Over the last year, Vendavo has experienced tremendous growth, more than doubling revenue year-over-year, and successfully deploying price management solutions in more than 40 businesses across North America, Europe and Asia," said Al Crites, president and chief executive officer at Vendavo. "Our new funds will allow us to add breadth and depth to our software offering and aggressively pursue new markets, while maintaining our focus on the pricing needs of Fortune 500 companies. With a strong pipeline of new and existing customers in place, and solid plans for expansion underway, we are extremely optimistic about the company's future."
"Vendavo's success in the chemical, high-tech, manufacturing and distribution markets underscores the broad applicability of its pricing solution, and should serve the company well as they pursue new vertical markets," said Tom Galuhn, senior managing director, private equity at Mesirow Financial. "Vendavo has an excellent management team in place, a proven software offering and successful deployments across multiple world-class enterprise customers. We believe the company is well-positioned to continue to lead in this promising enterprise application market."
Vendavo's solution is the only price management software that has been designed and developed around the price waterfall, the core framework for effective pricing in B2B environments. It delivers a unique combination of insight, guidance and empowerment to business decision-makers. A comprehensive suite of applications enables customers to analyze pricing, negotiate more profitable transactions, manage price lists, set prices and terms and communicate pricing across the organization.
About Mesirow Financial
Mesirow Financial is a major independent financial services firm headquartered in Chicago offering Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate. Founded in 1937, Mesirow Financial is an employee-owned, private company with more than 1,000 employees in 26 offices across the country and in Puerto Rico. The firm has $25.5 billion in assets under management, advisory and custody and nearly $150 million in capital. For more information about Mesirow Financial, visit its Web site at http://www.mesirowfinancial.com/.
Vendavo is the leading provider of price management software to global process, industrial and high-tech manufacturing, and distribution corporations. Vendavo's customers significantly increase their net margins by solving a broad range of pricing challenges that include managing strategic pricing initiatives, setting list prices, managing price lists, controlling margin leakage, negotiating and managing contracts, pricing quotes, tracking pricing performance and customer compliance, and communicating prices across the organization. Vendavo solutions integrate seamlessly with other mission- critical, customer-facing processes and applications. To learn more or to request information, visit http://www.vendavo.com/.
CONTACT: Carleen LeVasseur of GMK Communications, +1-408-264-6767, or firstname.lastname@example.org, for Vendavo
Web site: http://www.mesirowfinancial.com/
Web site: http://www.vendavo.com/
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|Date:||Sep 7, 2005|
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