Steelwedge Names New CEO, Draws New Funding

Planning & performance management specialist appoints IMI vet Campbell, pulls in $4 million to expand sales, marketing

Planning & performance management specialist appoints IMI vet Campbell, pulls in $4 million to expand sales, marketing

Pleasanton, CA — October 5, 2004 — Enterprise planning and performance management specialist Steelwedge has named a new CEO and pulled in $4 million in new funding to expand its sales and marketing activities

Steelwedge says its solutions help manufacturers assess market demand, align their customer, product, inventory, production and business plans and monitor enterprise performance by providing visibility, collaboration and performance management capabilities across sales, marketing, finance and supply chain operations.

The company has appointed enterprise software veteran Timothy Campbell as president and CEO. Campbell will oversee all Steelwedge business operations and lead the commercialization of Steelwedge's software and services. Campbell replaces Rob Schneider as president and CEO of the company.

Campbell has nearly two decades of experience in the supply chain management and customer relationship management software markets. Before joining Steelwedge, Campbell was president and CEO of Industri-Matematik International, a $50 million global software company that provides supply chain execution software for consumer packaged goods and retail organizations.

Prior to joining Industri-Matematik International, Campbell served as president and CEO of ePIT Systems, an enterprise software provider of trading infrastructure for regulated exchanges and investment banks. Prior to joining ePIT, Campbell held the position of vice president and general manager of Kana Online, where he built the applications service provider business unit of Redwood City, Calif.-based Kana Communications.

Campbell also served as vice president of client services for San Mateo, Calif.-based netDialog, an e-service Internet application company. He joined netDialog in early 1999 from Baan, where he was senior vice president of consulting for the Americas, directing a 500-person team and managing a $100 million business. Campbell joined Baan via the acquisition of Aurum Software, where Campbell served as senior vice president of global services. Campbell began his career in 1988 with Electronic Data Systems, where he held positions in engineering, consulting, project management and corporate management.

"Steelwedge is uniquely positioned to leverage its breakthrough technology solutions and strong customer relationships to become the leader in a new and emerging category of enterprise planning and performance management," said Campbell.

Meanwhile, Steelwedge has received an equity investment of $4 million from venture capital firms Sigma Partners and Globespan Capital Partners. The funds from the investment will be used to expand Steelwedge's sales and marketing activities.

"With this investment, we are providing the necessary capital for Steelwedge to continue its growth in this emerging and business critical application segment," said Mark Pine, managing director of Sigma Partners.