MITRIX RAISES $10 MILLION SERIES gAh FINANCING
CMEA Ventures and Logispring Lead
Investors
Irvine, Calif. – August 28, 2006 – Mitrix, Inc., an On Demand Supply Chain Management (SCM) technology
provider, today announced that it has raised a $10
million Series gAh financing, which was co-led by CMEA Ventures and Logispring.
The funding will be used to build the companyfs support organization and for
product development. Mitrix also expects to leverage the software development
and supply chain industry expertise of both CMEA Ventures and Logispring.
gThe backing and support of both firms will
accelerate our growth as an independent company and market leader,h said Ed
Lewis, President and CEO of Mitrix, gWe
are excited about having CMEA and Logispring on board as new investors and are
sure their experience will benefit Mitrix as we execute our strategy.h
Mitrix began as a subsidiary of the global trading
company Mitsui & Co. (U.S.A) and has customers in multiple business units
within Mitsui. Recognizing the
value and support that the Mitrix solution continues to provide, Mitsui & Co. (U.S.A) will retain a percentage
stake in the company. gMitrix is serving a growing number of Mitsui
business units and, as the company started to add an increasing number of
non-Mitsui customers, we have been looking for ways to also broaden its
shareholder base,h said Isao Ueda, Senior Vice President and Division General
Manager of Mitsui & Co. (USA), Inc.fs Transportation Logistics Division.
gWe are confident that the support of CMEA and Logispring will further boost
Mitrixf growth.h
Mitrixf
On Demand SCM solution synchronizes the entire supply chain from forecast and
planning to outbound logistics. The company targets medium-sized companies as
well as operating units of larger corporations. Recent company growth includes
the Mitrix Authorized Partner Program for validated third-party resellers, as
well as implementation of the solution beyond the Mitsui business network,
including Kawasaki Motors Corporation.
"Mitrixf business
is at the heart of our investment theme, helping businesses build efficient
supply networks," said Frans van Schaik, managing partner at Logispring,
who will join Mitrixf board. "Implementing this community-based on-demand
service provides an unprecedented level of real-time collaboration and extends
the original promise of supply chain management to suppliers and their
customers alike.h
Jim Watson, managing director of CMEA,
who will also join Mitrixf Board, adds, gMitrix is uniquely positioned to take
advantage of the explosive growth in software as a service (SaaS) for supply
chain management. We have been impressed with the companyfs ability to
establish itself as one of the early market innovators and believe that they
are poised to become a dominant force in the marketplace.h
About Mitrix,
Inc.
Mitrix, Inc,
offers revolutionary, On Demand Supply Chain Management (SCM) technology
delivered via the Internet. Its flagship product, SCM Live, offers
the functionality companies need to dramatically improve the performance of
their supply chains and create new revenue opportunities. Headquartered in
Irvine, CA, the company manages complex supply chain transactions across eight
countries. For more information, visit www.mitrix.com.
About Mitsui & Co.
(U.S.A), Inc.
Mitsui
& Co. (U.S.A.), Inc. (Mitsui USA), incorporated in 1966 in New York, is a
leading international trading and service enterprise with an extensive global
network. Headquartered in New York City, it has 11 local offices and over 90
subsidiaries and affiliated companies across the U.S. Beyond traditional
trading, the Company's newer emphasis is on project development, investment and
innovative services capabilities. Aspiring to be "Your Global Business
Partner®," Mitsui USA endeavors to solve problems and create value now and
for tomorrow. For more information, visit www.mitsui.com.
About CMEA
Ventures
CMEA Ventures is a San
Francisco based venture capital firm that was established in 1989 and
specializes in high technology, life sciences, and alternative energy
investments. We invest in both early and late stage companies, and actively
partner with our extended network of companies, other VC firms, institutional
investors, strategic partners as well as entrepreneurs. CMEA currently has 6
funds and manages $771 million of venture capital. We have been an early stage
investor in leading Silicon Valley companies such as Flextronics (FLEX), Magma
(LAVA), Maxygen (MAXY), Monogram Biosciences (MGRM), Silicon Spice (BRCM),
Symyx (SMMX), and Syrrx (recently purchased by Takeda). CMEA Ventures'
portfolio includes Alien Technology, Alexza (ALXA), Bayhill Therapeutics,
Biomimetic, Altus (ALTU), Ambrx, Applied Wave Research, Codexis, Entropic,
Intermolecular, iSuppli, LiveOps, Predix, RF Magic, Superprotonic, and Symwave,
among others. For more information, visit http://www.cmeaventures.com.
About Logispring
Logispring is a venture capital firm with a
gbalanced portfolioh strategy focused on building businesses for global supply
networks (industrial processes, logistics, manufacturing). The firm has a
transatlantic portfolio, and is gradually expanding into other parts of the
world. The key ingredients of Logispringfs strategy, and the drivers of the
firmfs success, are its focus on supply networks, its international scope, and
the quality and passion of its team. For
more information, visit http://www.logispring.com.
###