Cedron Raises $10 million

Dutch product information specialist looks to boost sales in Europe, U.S.

Munich, Germany  September 19, 2002  Dutch product information specialist Cedron scored nearly $10 million in new investment recently as European venture capital company b-business partners joined existing investors DVC Deutsche Venture Capital and innotech in this latest funding round.

Founded in 1999, Cedron is a provider of software solutions designed to help improve business performance through the provision of product information. The provider's solutions are designed to ensure the communication of consistent and up-to-date product information, regardless of the number of information sources and output platforms, languages or currencies.

"Product information is a key asset of any company, and efficient management of it not only reduces costs but also helps our customers to improve their entire sales and marketing process," said CEO René Jepma.

Cedron's current customer base includes such blue chip corporations such as ABB, Pioneer, Compaq and Minolta-QMS. The new funding will be used to strengthen the sales and marketing organisation in Europe and the United States.

b-business partners acted as lead investor for this round, joining DVC Deutsche Venture Capital and the equally capital-letter-challenged innotech in contributing 10 million euros, or $9.87 million, in new funding. The latter two companies have been shareholders in Cedron since completing a 3.9 million euro ($3.8 million) funding round in late 2001.

In May 2002 Cedron attracted attention through its acquisition of Content Europe, strengthening its position in providing product information to suppliers, manufacturers, distributors and resellers. "It is all part of our strategy for rapid European and American business expansion," said Jepma.