Raleigh, NC November 14, 2001 HAHT Commerce Inc. a provider of demand chain management applications, announced that it has received a new round of funding, led by Granite Ventures, totaling more than $17 million.
The funding includes a new round of equity investments from investors Adobe Ventures, Aurora Funds, BankAmerica Capital Investors, CIBC Capital Partners, Menlo Ventures, Sippl McDonald Ventures and Southeast Interactive Technology Funds.
A statement released by the company explained that it will use the new capital to boost its international growth, expand North American sales and marketing, further develop its product line HAHT Commerce Suite 7.0, and expand its sales channels and alliance partnerships.
"In today's economic environment, raising this amount of capital and receiving this kind of strong support from our investors is a great achievement for our company," said Tom Thomas, president and CEO of HAHT Commerce. "Our investors have talked to our customers and reviewed our products in depth. They see that we continue to have strong execution of our profitability plan and have a track record in consistently delivering the benefits of Demand Chain Management."
Chris Hollenbeck, managing director for Granite Ventures, said that his company was impressed with HAHT Commerce's ability to meet its e-business objectives. "As large enterprises continue to seek out new ways to cut costs, improve customer service, and grow their revenues, we believe demand chain management will very quickly become a requirement for the modern enterprise, he said. Many enterprises started automating from the inside out with [enterprise resource planning] systems, then with supply chain management software. We believe the next broad trend is automating the demand side of an enterprise."