Planalytics secures $15 million round of funding
"This funding will help us accelerate product development and expand sales and marketing into additional vertical and geographic markets," said Frederic Fox, President and CEO of Planalytics.
Planalytics also announced that Robert Shinn, Vice President of Exelon Capital Partners, and Robert Brown, Managing General Partner of Meridian Venture Partners, would join the company's board of directors. TL Ventures, which previously funded Planalytics in 1999, is represented on the board of directors by Gary Anderson, Managing General Partner of TL Ventures.
"We are extremely pleased to be investing in Planalytics, not only in light of their recent performance but because of the company's prospects for the future," said Robert Shinn of Exelon Capital Partners. "The development of Weathernomics Gas Buyer and the development of other energy-related applications are consistent with our interest in tools that manage risk in the rapidly changing energy market."
"We've been tracking Planalytics for several years and are very impressed with the progress of their technology development, management team, and rapid growth," said Robert Brown of Meridian Venture Partners.
"We are pleased to participate in the continued growth of Planalytics with the addition of well-known venture partners. Planalytics occupies a unique and critically important niche in the rapidly growing market for supply chain planning technologies," said TL Ventures' Gary Anderson.
About Planalytics
Planalytics is a supply chain planning portal serving three vertical markets: retail, life sciences, and energy. Planalytics (www.planalytics.com) provides vital future external intelligence into supply chain planning and forecasting, quantifying how, where, and when weather, demographic, economic, and competitive shifts from year to year will affect supply and demand for specific products and services.
About Exelon Capital Partners
Exelon Capital Partners(www.exeloncapitalpartners.com), based in Philadelphia, Pa., is the corporate venture capital subsidiary of Exelon Corporation, the nation's largest electrical utility, formed through the merger of Peco Energy Company and Unicom Corporation. Its charter is to aggressively identify opportunities, technologies and business models, and establish a network of new business relationships through active investments in companies. The investment mix includes telecommunications, energy services and retail services e-commerce.
About Meridian Venture Partners
Meridian Venture Partners and Meridian Venture Partners II, L.P. (www.meridian-venture.com) are private equity investment firms located in Radnor, Pa. Both are licensed as Small Business Investment Companies by the U.S. Small Business Administration. MVP has been in business since 1987 and MVP II was formed in 1999. The Funds provide equity capital for later-stage growth companies and to finance acquisitions and recapitalizations. The Meridian Venture Funds are managed by Robert E. Brown, Jr. and Thomas A. Penn, General Partners.
About TL Ventures
TL Ventures (www.tlventures.com) is a national venture capital firm with over $1.4 billion under management. Focused on investing in category-defining, early-stage companies in information technology, communications and life sciences, the firm provides portfolio companies with a mix of financial, operational and entrepreneurial expertise and a global network of resources and contacts. TL Ventures has offices in Philadelphia, Austin, Dallas and Los Angeles.
About Wynnefield Capital Advisors
Wynnefield Capital Advisors, based in Bala Cynwyd, Pa., is a Mid-Atlantic venture capital firm backed by PPM America Capital Partners, LLC of Chicago, Ill. PPM America Capital Partners manages $2 billion of private equity for clients around the world.
Contact: Jim Gagne, for Planalytics, 610-407-2956.
Source: Planalytics Inc.
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