PRESS RELEASE - Vendavo receives an investment
Vendavo Receives Investment from SAP Ventures
Investment to Extend and Deepen the Links between Vendavo’s Pricing Solution
and Critical Enterprise Systems
Palo Alto, Calif. – November 6, 2006—Vendavo, the leading provider of business to business price management solutions, today announced that it has received an equity investment from SAP Ventures. SAP Ventures is a division of SAP AG (NYSE: SAP), the world’s leading provider of business software. The investment will help fund Vendavo’s product development, extending and deepening the links between its pricing solution and critical enterprise systems. SAP Ventures joins Vendavo’s existing investors, including DCM - Doll Capital Management, InterWest Partners, Mesirow Financial, Sigma Partners and Split Rock Partners.
“SAP has worked closely with Vendavo for more than a year now, reselling its world-class pricing solution to our customers, and delivering compelling value to the company’s bottom line,” said Nino Marakovic, Investment Partner, SAP Ventures. “By more tightly linking Vendavo’s pricing applications with all of the systems that support operations, sales, marketing and finance, decision makers across the enterprise will have real-time access to the data they need to make effective pricing decisions.”
Vendavo’s price management solution spans the critical pricing business processes for global corporations, including price setting, price optimization, price administration, price negotiation and pricing analytics. Unique in the price management space, one hundred percent of Vendavo’s development investments are focused on the needs of business to business corporations. The investment from SAP Ventures will complement Vendavo’s existing development initiatives.
Vendavo’s customers include more than 100 divisions of leading industrial manufacturing, high-technology, chemicals, distribution and other business to business corporations worldwide. These clients include:
2 of the top 5 global computer manufacturers
3 of the top 10 Fortune 500 semiconductor companies
5 of the world’s largest industrial manufacturing corporations
6 of the top 20 Fortune 500 chemical companies.
“SAP Ventures understands the strategic importance of effective price management to drive higher earnings for global companies. They value the proven power of our solution, in combination with other critical enterprise systems, to deliver this value,” said Al Crites, president and chief executive of Vendavo. “We welcome SAP Ventures insights as we continue to expand our pricing solution, customer base and operations worldwide. Their investment will benefit all of our customers as we continue to build out our vision of a fully-integrated, comprehensive price management solution.”
Vendavo delivers price management software to business to business companies worldwide. Vendavo’s clients improve their operating income by 1-3% of sales by consistently and effectively planning, setting, optimizing, managing, negotiating, and executing their pricing. These clients span multiple industries, including chemicals, high-tech and industrial manufacturing, mill products and distribution. Headquartered in Palo Alto, California, with European headquarters in London, and offices in Boston and Geneva, Vendavo is the price management solution of choice at over 100 client divisions in North America, Europe, Asia and worldwide. SAP®, the world’s leading provider of business software, with more than 33,200 customers in more than 120 countries, sources its SAP Price and Margin Management® application from Vendavo.
To learn more, or to request more information, visit www.vendavo.com
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GMK Communications for Vendavo