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FOR IMMEDIATE RELEASE May 11, 2000
Carolynn Sherby
Director: Public and Analyst Relations
Extricity Software, Inc.
650-596-4531
csherby@extricity.com
Coby Morley
Account Executive
Miller/Shandwick Technologies
650-596-5824
cmorley@miller.shandwick.com
Extricity raises $50 million in funding
REDWOOD SHORES, Calif.—May 11, 2000—Extricity, Inc., a leading platform provider for business-to-business relationship management (B2BRM), today announced it has raised $50 million in mezzanine financing from both corporate and financial investors. Charter Venture Capital served as the lead investor. The major corporate investors in this funding include industry-leading companies such as Aspen Technology, Inc.; Intel 64 Fund; Manugistics, Inc.; SAP Ventures, a division of SAP AG and Wingspring. In addition, major financial investor groups include Charter Growth Capital, Broadview Capital Partners, Technology Crossover Ventures, and Invesco. With the addition of the mezzanine round, Extricity has received a total of $85 million in financing since its inception in April of 1996.
About Extricity
Extricity is a leading provider of B2B software products that allow companies to manage the internal and external sharing of information and the execution of interactions among software applications and business partners over the Internet. We refer to this exchange and management of information among groups of companies over the Internet as business-to-business relationship management, or B2BRM. Our eXtensible Markup Language, or XML, based platform provides an open, standards-based solution that allows diverse information systems and businesses to work together more effectively by automating and synchronizing the flow of information and execution of processes. Our platform supports a process-based flow of mission-cricital information that enables organizations to achieve operational efficiencies and to collaborate without having to change their internal processes or information technology environments, regardless of size, sophistication or existing software applications. Our customers include Adaptec, Advanced Micro Devices, MarketFusion, Inc., Mary Kay, Inc., Need2Buy and Solectron Corporation. We also work with system integrators and consulting firms, including CSC, IBM Global Services and PricewaterhouseCoopers. Extricity's headquarters are located in Redwood Shores, California.
For more information, contact Extricity Software by phone at (650) 596-4500, or click here.
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