SupplyEdge, Leading Supply Chain Information Services Partner, Secures $11 Million in Funding

LOS ANGELES, Nov. 10 /PRNewswire/ -- SupplyEdge, a leading provider of action-triggering supply chain information services, today announced it has secured $11 million in funding. New investors include AsiaTech Ventures Limited and Lucent Ventures Partners; current investors Investment Group of Santa Barbara and California Technology Ventures also participated in this round of funding.

"This funding allows us to better leverage our current momentum as SupplyEdge emerges as the trusted solutions provider for our supply chain customers,'' said Irene Woerner, president and CEO, SupplyEdge. ``We will continue to develop and build market share for our newest service, reParts, the trusted marketplace bringing together people who need parts with people who have them, especially when they need to look outside their normal supply chain. We were fortunate this series was over-subscribed, enabling us to choose investment partners who could bring true value to the company. The enthusiastic response to our funding requests represents a strong vote of confidence in our business plan.''

"We're pleased to be working with SupplyEdge as they continue to build their business,'' said Maureen Lawrence, partner in Lucent Venture Partners and board member of SupplyEdge. "The supply chain and supply chain management is becoming increasingly important as companies streamline operations, and SupplyEdge has solutions to meet those needs.''

"We are very excited to be a partner in SupplyEdge's accelerated growth phase,'' said Peter Chu, AsiaTech Ventures. ``Their unique approach to customer acquisition and value creation sets SupplyEdge apart from the many players posturing to enter this large market space.''

SupplyEdge was founded in 1995 as Cogent Software, Inc. to provide a more efficient and effective means of managing the specification and procurement of components. Applying broad expertise in information systems, electronics manufacturing, telecommunications, database systems, networking and control center technology, the company launched its first product for the electronics industry, PCNalert in 1998, and its second, reParts, in July 2000. SupplyEdge customers include Agilent, AMP, Flextronics, Lucent Technologies, Nortel, Raytheon, Solectron and Sun Microsystems.

SupplyEdge helps companies optimize asset and inventory utilization, ensuring successful and continuous production. SupplyEdge effectively enables customers to manage the misalignments that inevitably occur between supply and demand. Customers turn to SupplyEdge for real-time product change and obsolescence information, buying and selling solutions and value-added services that ensure successful and continuous production. By accessing SupplyEdge's services, customers make optimal use of their parts resources and inventories, helping to prevent lines down.

For more information, contact SupplyEdge at 626.585.2788 or visit SupplyEdge's website at www.supplyedge.com.