Harmony Closes on $22 Million.
Business/Hi-Tech Editors
SAN MATEO, Calif.--(BUSINESS WIRE)--June 19, 2000
Harmony Software, the analytic engine of e-Commerce(TM), today announced it completed its third round of financing for a total of $22 million.
Led by Reuters Greenhouse, the group of new investors includes Chevron Technology Ventures, LLC., HCL Technologies, Commonwealth Associates, Dain Rauscher Wessels, and several prominent private investors. Current investors, APV Technology Partners, NIF Ventures Co., Ltd., Red Rock Ventures, Greenfield Technology Ventures and KMPG, also participated in this round.
John Taysom, Founder and Joint CEO, The Greenhouse Fund, said, "Reuters Greenhouse investment in Harmony complements existing Greenhouse investments in the evolving infrastructure for business on-line. We are delighted to lead a strong investor group to support the commercial roll-out of this key component for e-Commerce solutions."
"While several providers have attempted to satisfy the need for data analysis, Harmony is the first company to offer a comprehensive, packaged solution for real-time, summarized data coupled with industry information for competitive comparisons. Additionally, because the solution is packaged, cost and installation outlays are significantly reduced," said Robert Todd, general partner, Red Rock Ventures, "We chose to invest in Harmony thanks to the superiority of this solution, which is clearly recognized in the industry by strategic partners such as Compaq, Microsoft and KPMG."
Harmony will be using these funds to expand its sales and marketing efforts in support of its newly introduced Real Time Information Engine for e-Commerce and continued support of product development. Additionally, the Company will be relocating its corporate headquarters in the bay area to accommodate this expansion of operations.
"We intend to leverage this new capital to grow and expand our presence in the e-Commerce market space," said Carla Gardepe, Company founder and Chairman of the Board. "We are fortunate to work with investors who are experts in data analytics and we believe that building relationships with these investors and their partners will provide significant strategic opportunities."
About Harmony
Harmony Software, Inc., is the leading analytic engine for B2B & B2C exchanges, portals, ASPs and platform partners. Harmony provides key performance indicators (KPIs) based upon proven industry standards for e-Commerce, demand chain, and supply chain, enabling users to manage their businesses in real-time, using live, accurate information. Harmony Software, the analytic engine of e-Commerce(TM), provides users with a leading-edge solution to make informed decisions. Harmony's KPIs turn your business information into insight, creating a more efficient and profitable business. The company, founded in 1996, is currently headquartered in San Mateo, California. Significant development partners include Microsoft, Ernst & Young, KPMG and Stanford University.
For more information about Harmony Software, please visit our website at www.harmony.com.
