WAYNE, Pa., March 5 /PRNewswire/ -- Planalytics Inc., a provider of supply
chain planning technologies, today announced it has completed a $15 million
round of funding led by Exelon Capital Partners. Also participating in the
round as co-investors were Meridian Venture Partners, TL Ventures, and
Wynnefield Capital Advisors.
"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 (http://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 (http://www.exeloncapitalpartners.com), based in
Philadelphia, Pa., is the corporate venture capital subsidiary of Exelon
Corporation (NYSE: EXC), 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.
(http://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 (http://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.
SOURCE Planalytics Inc.
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Related links:
http://www.weatherplanner.com
CONTACT:
Jim Gagne of Planalytics, 610-407-2956
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