Evant Secures $12 Million in Financing Round
SOFTBANK Leads Investment in Next-Generation Supply Chain Management Solution for E-Businesses
San Francisco, Calif., (September 6, 2000) - San Francisco-based Evant Solutions Corporation announced today that it has closed a $12 million second round of financing. Led by SOFTBANK Venture Capital, the round also includes Kline Hawkes & Co.
and Bain Capital's Brookside Fund. Evant provides the industry's first e-commerce solution that integrates and manages the complete business-to-business trade spectrum, including inventory planning and forecasting, merchandise management, and decision support. Delivered through an Application Service Provider (ASP) model, the Evant solution has been built from the ground up to meet the specific needs of all companies in the supply chain creating a new sales channel over the web. This includes suppliers, manufacturers, wholesalers, distributors, catalogers, retailers and e-tailers.
"We are thrilled to have such a prestigious group of investment partners," said Rob Feuerman, Evant's President and CEO. "Given their successful track record and expertise in the Internet space, they will play a significant role in helping us execute our business plan and achieve our goal of market leadership. The quality of our funding partners validates our leading technology, strong business model and overall growth potential."
"As e-commerce matures, more companies will need to focus on supply chain management to drive profitability. The more successful ones will choose Evant's solution to get a leg up on the competition. We are excited to invest in a company that is leveraging the power of Internet technologies to provide the next-generation of e-commerce solutions," said Scott Russell, General Partner, SOFTBANK Venture Capital.
Built for E-businesses to help Maximize Profitability
Evant's product offering has been designed to easily integrate with e-businesses' front office and fulfillment applications. It is the only solution for online businesses that has been specifically designed to help drive profitability by providing the tools and information required to more effectively manage the supply chain. Applications include centrally controlled planning, assortment management, buying and sourcing, pricing and promotion management, inventory management and replenishment. To date, many e-businesses have implemented solutions to support their web site, customer service and fulfillment applications. However, until Evant came along, there were no solutions that adequately supported online merchandise and inventory management, critical applications required to operationalize the back-office and analyze e-commerce profitability.
Traditional supply chain management and ERP applications developed prior to the Internet revolution were not designed to handle many of the new business requirements necessary to support e-commerce. Evant has leveraged their extensive domain expertise in traditional supply chain business principles and fundamentally redesigned each for the online business model. The entire suite of inventory management and analysis applications were developed using an online customer-centric design approach. In addition, Evant created a set of new business functions that will help their clients leverage the power of customer information.
Fast Implementations and High Touch Services via an ASP Business Model
Because the Evant solution is delivered and supported via an ASP business model, Evant offers its clients a number of important benefits. The implementation process, normally a nine to 18 month project for products of this sophistication, is typically condensed into 90 days. Evant also includes pre-configured best practice templates to accelerate training and implementation. Their ASP model provides a wide variety of "high touch" services during implementation and ongoing support, so that Evant becomes an extension of their clients' information technology organizations.
About Evant
Evant provides inventory planning and forecasting, merchandise management, and decision support solutions for leading suppliers, manufacturers, wholesalers, distributors, catalogers, retailers and e-tailers. Evant is changing the way business is conducted through an innovative software solution designed from the ground up for the digital economy, built with best-in-class technologies, and delivered as an ASP service over the web. Evant is on the forefront of the E-business revolution by providing next generation software and services that will forever change the way B2B and B2C commerce is conducted. Evant's clients are using the solutions to more effectively manage their supply chain operations and drive profitability. For more information, contact Evant at 450 Geary Street, Suite 400, San Francisco, CA., 94102; phone (415) 345-2700; fax (415) 345-2727.
