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News and Information Article
Funding to Support Growth of Company and Expansion of Incuitys World-Class
VAR Channel
MISSION VIEJO, Calif., Aug. 10 /-FirstCall/ -- Incuity
Software, Inc., a leading developer of real-time business intelligence (BI)
software for manufacturing enterprises, today announced the closing of a
Series A investment from American River Ventures (ARV) and Palomar
Ventures. In addition to the funding, John Kunhart, Managing Director with
American River Ventures, and Randy Lunn, Managing Director with Palomar
Ventures, will join Incuitys Board of Directors.
"With our Incuity EMI(TM) flagship product in place and dozens of
customers worldwide already using and benefiting from this business
intelligence manufacturing solution, the funding enables Incuity to focus
more aggressively on supporting the rapid growth of both our company and
our value- added reseller (VAR) channel," said Doug Lawson, CEO of Incuity.
"In addition, by partnering with ARV and Palomar we are gaining tremendous
talent, market expertise, and operational know-how in two new directors who
bring years of experience in helping companies at our stage and in our
industry sustain rapid growth and success."
Incuity plans to use the initial financing to support its growing sales
and support channel, which currently consists of 20 VARs worldwide. In
addition, Incuity expects to use the financing to strategically grow its
workforce and accelerate product development.
"Incuity is a unique company for this stage of growth because it has a
truly differentiated and proven technology solution, an experienced team
with a deep history of successfully developing and deploying products in
this exact market space, an impressive customer base and a growing VAR
channel," said John Kunhart, Managing Director, American River Ventures.
"We are pleased to partner with Palomar Ventures and work closely with Doug
Lawson and his team to support the growth of the company."
Customers, Customers, Customers ...
The Incuity EMI software solution, which began shipping to customers in
March 2006, is already deployed at major enterprises such as 3M, Arkansas
Steel, Ballard Power, Enbridge Energy, Frito Lay, General Mills, Gillette,
Hexion Chemicals, and more. The software solution enables manufacturing
organizations to connect to virtually any business applications, databases,
process historians and control systems to provide web-based access,
manipulation, viewing and sharing of information throughout an enterprise.
Incuity EMI can access information over any network, using standard
browsers, and process it as requested so users can analyze it from within
the application software they already use to do their jobs -- whether its
word processors, spreadsheets, graphics, data mining, business intelligence
or other programs.
"Palomar Ventures is pleased to provide growth financing and be part of
Incuity moving forward. Doug Lawson and his team are talented professionals
in the enterprise manufacturing informatics space and have built the
leading platform for consolidating disparate data into user-defined,
action-oriented formats," said Randy Lunn, Managing Director, Palomar
Ventures. "The market response has been remarkably positive and I look
forward to working with Doug at the board level."
An Industry to Watch
Whether you view it as Business Intelligence (BI) for Manufacturing or
Enterprise Manufacturing Intelligence (EMI), this emerging market is one to
watch. In a recent AMR Research Alert Article (August 8, 2006), written by
Colin Masson and Alison Smith, and entitled Architecting the Next
Generation of EMI: Operations Intelligence Meets Business Intelligence,
Incuity is highlighted as one of the EMI frameworks with the "broadest
support of the core capabilities ... offering high fidelity manufacturing
data models, integrated operational data stores, and integrated analytics."
These capabilities are among those that, according to AMR Research,
manufacturers should be looking for in their next generation of EMI,
stating that, "manufacturers cant afford to silo manufacturing process
performance data from their asset data and supply chain execution data."
Other company investors include HamiltonTech Capital Partners, Fipco
Ventures and prominent local angel investors.
About Incuity:
Incuity Software, based in Mission Viejo, California, is a pioneer in
the creation of data management systems for reporting, analysis and
business intelligence applications in manufacturing and process companies.
More than 45,000 seats of the companys products have been installed since
1998, in 13 languages and in more than 40 countries. In addition to its
headquarters operations in California, Incuity has regional sales offices
in Nevada and Massachusetts in the U.S. as well as in Sydney, Australia;
Duesseldorf, Germany; and Johannesberg, South Africa. The company also
maintains an advanced solutions development group in Burlington, Ontario,
Canada.
About American River Ventures:
American River Ventures (ARV) is an early-stage information technology
venture capital firm that uses its broad range of expertise and
relationships to help build start-up companies located in high-growth,
underserved technology markets primarily outside of Silicon Valley. Founded
in May of 2001 by three successful business entrepreneurs, Harry Laswell,
Corley Phillips, and John Kunhart, the firm offers entrepreneurs direct
experience in the day-to-day realities of building great companies. ARV
managing directors have a solid blend of operating and management
experience in both corporate and start-up environments -- they have been
directly responsible for successfully starting or running companies,
developing new products, and growing companies into attractive
acquisitions. Located in Sacramento, California, ARV has over $100 million
under management and a portfolio that includes companies in a variety of
sectors: semiconductors, communications, wireless, display technologies,
and software. For more information, visit http://www.arventures.com or call
916-780-2828.
About Palomar Ventures
Palomar Ventures is an early-stage venture capital firm with over $500
million under management to help entrepreneurs in information technology
(IT) companies grow significant businesses and become market leaders in
their fields. Founded by veteran venture capitalists, the Managing
Directors collectively have founded and managed venture funds that have
produced over forty IPOs and numerous successful merger/acquisitions.
Palomar maintains three California offices in Irvine, Santa Monica and Palo
Alto. Visit our website at: http://www.palomarventures.com or call 949-475-9455.
NOTE: All brands, products, or service names are or may be trademarks
or service marks of their respective owners.
Media contacts:
Allyson Wyles Don Allen
American River Ventures Incuity Software
Phone: 916-206-1891 Phone: +1-949-465-0390, ext. 222
allysonwyles@yahoo.com don.allen@incuity.com
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