CARGILL LEADS DEMANDTEC SERIES C AND JOINS DEMANDTEC BOARD
Cargill Endorses Leader in Demand Based Management
SAN FRANCISCO, December 17, 2001– DemandTec Inc., the leading provider of Demand Based Management (DBM) software, today announced that the company has closed a $16.7 million round of funding. Cargill led the Series C round, with investors Crosspoint Venture Partners, Altos Ventures, and Athena Technology Ventures also participating. In conjunction with the investment, Cargill executive Jim Sayre will join the DemandTec Board of Directors.
"Cargill views DemandTec’s leadership in the emerging Demand Based Management sector a source of powerful and strategic advantage for our many customers in retail and packaged goods," said Robert Lumpkins, Vice Chairman and CFO of Cargill, Inc. "We believe DemandTec’s technology has broad relevance to the markets in which Cargill operates, bringing a demand–based focus to each vertical industry. We look forward to collaborating with DemandTec as they continue to deliver world–class technology solutions."
"I am pleased to lead this investment and represent Cargill on the DemandTec Board," said Jim Sayre, President of Cargill eVentures. "DemandTec’s ability to forecast consumer demand with such unprecedented accuracy – and optimally manage the demand levers of price, promotion, and assortment to maximize margins, revenues, and retailer price image – will bring enormous value to retail customers and eventually to the entire supply chain."
"To have raised a successful Series C in these trying economic conditions speaks multitudes for the momentum we’ve achieved in the marketplace and allows us to more quickly expand our business," said Dan Fishback, President & CEO of DemandTec. "We are thrilled to have Cargill join our Board, a respected global leader with a long track record of building sustainable businesses. Their endorsement of Demand Based Management, as one of the world’s largest and most respected companies, is a proud moment in the history of DemandTec. This additional infusion of capital, along with Cargill’s experience and visionary guidance, will help us continue to expand operations, sustain market leadership in DBM applications for retail, and then expand to other related industries that can benefit from Demand Based Management."
About Cargill
Cargill Inc. is an international marketer, processor and distributor of agricultural, food, financial and industrial products and services with 90,000 employees in 57 countries. In business over 135 years, Cargill is a globally respected business leader. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition. Cargill eVentures is a wholly–owned venture investment group of Cargill, Inc. and invests in early stage technology companies that enable global commerce, innovation, and efficiencies across supply chains.
About DemandTec
DemandTec’s Consumer Demand Management software helps retailers and consumer products manufacturers strategically plan, optimize, and execute demand–driven merchandising and marketing programs based on a quantified understanding of consumer demand. Retailers have ranked DemandTec #1 in Strategic Value, Customer Satisfaction, and Quality of Service among the top 50 retail software vendors in the 2004 RIS Leaderboard survey. DemandTec customers include B&Q, Best Buy, Brookshire Grocery Company, Duane Reade, HEB Grocery Co., Longs Drugs, Monoprix, RadioShack, and Safeway. DemandTec software is provided via the IBM On Demand program. For more information, please visit www.demandtec.com.
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