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by Beth Stackpole, Contributing Editor Posted on Wednesday, August 03, 2005 4:13:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Capital infusion will help underwrite MES vendor's acquisition strategy, expand its geographic presence and accelerate a key development partnership with SAP.
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Manufacturing execution system (MES) player Visiprise Inc. has received its first major venture capital infusion since its 2002 inception, netting $16 million earmarked primarily for future acquisitions and to accelerate a key development partnership with SAP AG. The funding round, disclosed yesterday, was led by Investor Growth Capital (IGC), along with partners RRE Ventures, Morgan Stanley Venture Partners, Canaan Ventures, and Wheatley Partners. This latest round brings the company's total funding to $18.3 million. As a result of the deal, IGC's Noah Walley and Phil Dur have joined Visiprise's board of directors. Visiprise officials outlined a three-pronged strategy for the investment, explaining it wasn't money required to keep the business running, but rather to fuel future growth. First and foremost, officials said, the financing enables the Atlanta-based company to pick up some targeted acquisitions that will not only provide growth opportunities, but strategically expand the existing product line. [Click to continue] |
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