MILFORD, Connecticut January 29, 2001 Eventra, a supplier relationship management (SRM) software provider recently concluded a $24.1 million third round of private equity financing led by BRM Capital and ABS Ventures. Previous investors Whitney & Co. and Connecticut Innovations also joined the round. Amir Goldman of BRM Capital will join Eventra's Board of Directors and Erik Ginsberg of ABS Ventures will be an observer.
To date, Eventra has raised more than $35 million in total financing. According to company officials, the Milford, Conn-based company plans to accelerate its worldwide technology, sales, marketing and business development efforts for VendorSite", its Internet-based SRM solution that is used by Fortune 1000 companies, including Pitney Bowes, Duracell, Blue Bird Corporation, and Kaman Aerospace.
Effective management of the direct material supply chain is increasingly strategic to a company's economic and competitive well-being. We are extremely pleased to lead this financing round for Eventra because we believe their successful track record, list of blue chip customers, and product vision positions them squarely as the forerunner in this exploding segment of the B2B market space, said Amir Goldman, principal, BRM Capital.
Eventra's VendorSite SRM solution is a software application that serves as an inter-enterprise gateway for communicating, storing, and reporting mission critical information for manufacturers and their product suppliers. VendorSite enhances pre-established relationships by providing tools that allow the manufacturer and all of its suppliers to collaboratively manage and optimize the inbound direct material supply chain. This collaborative view into the supply chain enables companies to reduce inventory holdings, improve their forecasting accuracy, and improve their order-fulfillment cycle times.