WALTHAM, MA. February 01, 1999.
Arbortext, Inc., a leading provider of standards-based enterprise software for information creation, editing and publishing, today announced it has received $10.25 million in second round financing. This round of funding was led by Invesco Private Capital and included investments from Norwest Venture Partners and Access Capital. This funding will be used primarily to expand sales and marketing efforts.
Arbortext is currently at the forefront of the excitement surrounding the use of XML (Extensible Markup Language), which is becoming mainstream technology because it enables broadly powerful and highly valuable business applications on the internet and on intranets and extranets.
"Arbortext is making excellent progress towards becoming the leader in the information management and publishing industry by rapidly bringing to market easy-to-adopt, easy-to-use applications based on XML," said Bob Crowley, president and CEO. "This additional funding will be used to further strengthen our sales and marketing teams and will allow us to provide a greater commitment to existing customers, as well as accelerate our expansion into new customer accounts."
"XML is currently one of the hottest technologies and we view Arbortext as the industry pioneer," said Alessandro Piol, managing director of Invesco Private Capital, a global investment manager with over $250B in assets. "The company has a complete understanding of XML, a new, focused senior executive team and a state of the art product for Web, print or CD-ROM publishing. These are all key factors in our decision to fund Arbortext."
Founded in 1982, Arbortext is the leading provider of standards-based enterprise software solutions that enable companies to share, manage and reuse vital information across the enterprise product information chain. Global 5000 organizations such as AT&T, The Boeing Company, Caterpillar, Inc., Digital Equipment Corporation, Ericsson, Ford Motor Company, Grolier's Encyclopedia, Guidant, Lockheed Martin, Lucent Technologies, National Semiconductor, Sun Microsystems, Inc., and West Group, use Arbortext's products to create, deliver, and reuse information. Arbortext's customers achieve dramatic improvements in business-critical document processes to accelerate time-to-market, improve information quality, and enhance operational efficiencies. The company maintains corporate offices in Waltham, Mass., and additional offices in Ann Arbor, Mich.; San Jose, Calif., Denver, Colo., London; Paris; and Tokyo. The company has more than 150 employees worldwide.
For more information about Arbortext's products, consulting services and training programs, contact Arbortext at +1 734-997-0200, send email to firstname.lastname@example.org, or visit the Arbortext website located at http://www.arbortext.com.
SOURCE: Arbortext, Inc.