DFJ Esprit and Eden Ventures Also Participate
London, UK, 13th January 2009 – Tribold, a provider of Enterprise Product Management (EPM) software solutions specifically developed for Communication Service Providers (CSPs), announced today that it received US$11M in a new round of funding led by Intel Capital and joined by existing investors, DFJ Esprit and Eden Ventures. The funding will be used to grow Tribold’s North American operations, add key members to its management team, build on Tribold’s existing sales and marketing resources and allow the company to continue to invest in significant research and development to expand its’ product footprint.
Commenting on the funding round, Tribold’s CEO John Rainger said: “In an uncertain economic climate, we believe this round of funding clearly demonstrates Tribold’s importance in the communications industry. The new funds will allow Tribold to grow and expand in existing and new markets. ”
“The objective of Tribold’s products is to radically enable carriers to bring many more products to their customers in a much more efficient way. This opportunity will help carriers grow their revenue and lower their cost base. In the current environment where operators need to “upsell” their service offering and reduce cost, Tribold helps address the problem”, said Marcos Battisti, Intel Capital’s Sector Director Mobility EMEA.
“Tribold has an experienced management team that has created a strong product for the CSPs which will allow these to better manage and provide product consistency amongst their different software silos. CSPs will be able to offer convergent product bundles, a wider product range, and substantially reduce the go-to-market time of new products.”, said Marcos Battisti, Sector Director Mobility, Intel Capital EMEA. "CSPs will face increasing challenges in the current economic climate while at the same time needing to meet their end customers' demands. In order for them to remain competitive, a solution like Tribold's is the strategic choice.”
Nic Brisbourne, partner at DFJ Esprit, commented: “As an existing investor in Tribold, we are confident of the company, its technology and its management. The involvement of Intel Capital also confirms Tribold’s potential for us. We’re also happy to have had the opportunity to increase our own investment in the company.”
Mark Farmer, general partner at Eden Ventures, said: “Despite the current economic and business conditions, well-managed businesses still have the opportunity to thrive and I am delighted that Eden Ventures has been able to participate in this round of funding. The role for Enterprise Product Management in the CSP market has been validated, and Tribold is in a key position to take advantage of a significant market.”
Tribold is the world's leading provider of Enterprise Product Management (EPM) software specifically developed for Communication Service Providers (CSPs). TRIBOLD 3.0™ is a single, integrated suite of Enterprise Product Management applications that empowers CSPs to put products at the heart of their business.
TRIBOLD 3.0 is based on a Centralized Product Catalog (CPC) and a Design Time Catalog (DTC) enabling the key functions of Product Data Management (PDM), Product Data Integration (PDI), Product Lifecycle Management (PLM), Product Business Intelligence (PBI), and Product Channel Management (PCM).
For more information visit www.tribold.com.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About DFJ Esprit
We have one of the strongest teams in European venture capital - characterized by our experience and extensive market knowledge in technology, media, telecoms, medtech and cleantech to add real value to the best entrepreneurs in Europe. Recognizing the best players in the industry and helping them realize their ambition to build world-class companies is where we excel. The strength of our experience and contacts working alongside our hands-on approach helps cultivate the best strategies to accelerate businesses towards global success. We have over $500 million of capital under management in Limited Partnership structures from leading international institutions. We have offices in London and Cambridge and our exclusive European partnership with Draper Fisher Jurvetson ("DFJ") provides access to the DFJ Network bringing an added global dimension. The network currently consists of more than 135 venture capital professionals, across 32 cities, with more than 550 portfolio companies and over US$6 billion of capital under management. www.dfjesprit.com.
About Eden Ventures
The Eden Ventures team is a mix of successful entrepreneurs and investment professionals. Our blend of knowledge, experience and skill covers business strategy, sales and marketing, finance and operations, M & A transactions and institutional fund management.
In 2007, the European Technology Forum named Eden Ventures as Early Stage Venture Capital Fund of the Year and the sale of Cramer Systems (a pre-Eden investment) to Amdocs as Deal of the Year. The sale of Cramer was also heralded as Exit of the Year 2007 by Investor AllStars. www.edenventures.co.uk.
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