Trigo Raises $12 Million

Product information management specialist to use round-three funds to rev up product development, sales efforts

Product information management specialist to use round-three funds to rev up product development, sales efforts

Brisbane, CA — September 29, 2003 — Trigo Technologies has raised $12 million in round-three funding that the provider of product information management software will use to rev up product development and sales efforts, the company announced today.

Pequot Ventures, the direct investment arm of Pequot Capital Management, led this Series C round of expansion financing, and Deborah Bernstein, a senior vice president at Pequot, has joined Trigo's board of directors.

Trigo's existing investors, all of whom participated in the Series C round, include Bessemer Venture Partners, Globespan Capital Partners, Mayfield and Symphony Technology Group.

Already cash flow positive and profitable, Trigo said it plans to use the funds to help accelerate the development of new products and expand its sales, marketing, development and alliances organizations. The company today employs more than 125 people across North America, Europe and India.

"Trigo's success in significantly growing its business while reaching the important milestone of profitability gives us great confidence in the market and in Trigo's management team," said Bernstein of Pequot. "We believe that Trigo is attacking a problem which is top of mind for senior executives across a number of industry verticals, creating the potential to build a prominent enterprise software company."

"Trigo has worked very hard to create and expand the market for product information management software," said Tom Reilly, CEO at Trigo. "Going forward, we are tremendously excited that external drivers like global data synchronization, Web services and [radio frequency identification (RFID)] are fueling demand for our business."