FirstMark Capital Invests $10M In Reflexis Systems, Inc. – The Leading Retail Execution Management Software Company
Funding To Scale Sales And Marketing Expansion
NORWOOD, Mass. — (BUSINESS WIRE) — July 19, 2006 — Reflexis Systems, Inc., the leading Retail Execution Management software vendor, announced that it has completed a $10 million funding round from FirstMark Capital, the direct private equity investment arm of FirstMark Capital, a leading asset management firm. Reflexis will use the funds to expand sales and marketing to further enhance its leading position in the retail execution management sector.
Reflexis is headquartered in Norwood, Massachusetts, with offices in London and a large development center in Pune, India. Reflexis helps retailers synchronize corporate strategy and store-level action thereby increasing revenues and profits, reducing costs, and enabling a consistently positive customer experience.
Gerald A. Poch, Senior Managing Director of FirstMark, has joined the board of directors of Reflexis. “Over the last five years, Reflexis has emerged as the undisputed leader in Retail Execution Management with many of the world’s best run retailers as its customers. The evangelical support Reflexis receives from its customers and partners, combined with its fantastic product and its customer-driven organizational culture made our investment decision easy. We are delighted to partner with them in their growth phase,” said Mr. Poch.
“We are delighted to be associated with FirstMark Capital and Gerald Poch,” said Prashanth Palakurthi, Founder and CEO of Reflexis Systems Inc. “We realize, as does the market, that our leading position was based upon a better engineered product and unflinching focus on driving business benefits for our customers. We will now create a matching sales and marketing arm that can help a growing number of retailers execute flawlessly and realize significant operational gains. I am doubly delighted to have Gerald Poch on our Board. His 30 plus years of experience in building, managing, and investing in high-tech businesses is invaluable and will accelerate our growth in a significant manner.”
Mr. Poch added, “Over the last six quarters Reflexis has seen exponential rise in the demand for their products. Prashanth has already built a world-class organization which will be further broadened and deepened with the use of proceeds from this financing. Our deep experience in successfully growing global companies will help insure Reflexis’s continued success.”
About FirstMark Capital
Based in New York City, FirstMark Capital (formerly Pequot Ventures) has established itself as a venture leader with a strong, national reach over its twelve year history. FirstMark invests in companies that are creating new markets with innovative technology solutions or rethinking existing markets by applying a novel business model. With nearly $2 billion in capital commitments, FirstMark’s team of investment and operations professionals have decades of real-world experience and leadership in core technology markets, making the firm uniquely qualified to offer industry insight, relationships and the operational expertise to build lasting businesses. Select historical investments include: Netgear, Inc. (NASDAQ: NTGR); First Advantage Corp. (NASDAQ: FADV); StubHub, Inc (Acquired by eBay, Inc.); Netegrity, Inc. (Acquired by CA Inc); Flarion, Inc. (Acquired by Qualcomm, Inc.); OutlookSoft Inc. (Acquired by SAP AG); Analex Corp. (Acquired by QinetiQ); Vallent (Acquired by IBM); Syndesis (Acquired by Subex) and Navic (Acquired by Microsoft).
For more information, visit http://www.firstmarkcap.com.
Gerald A. Poch is Founder, Chairman and Managing Director of FirstMark Capital. Jerry is directly responsible for investments in infrastructure, and serves as a senior member of FirstMark’s Investment Committee. Prior to founding FirstMark Capital, Jerry served as Chairman and Managing Director of Pequot Ventures. Prior to that, Jerry served as Chairman, President and CEO of GE Capital Information Technology Solutions and was Co-Founder, Co-Chairman and Co-President of AmeriData Technologies, Inc. Jerry also has served as President of SBC Technologies, Inc., Senior Vice President of TIE/ Communications, Inc. and President of Technicom, Inc. Jerry was previously General Counsel to the North America Telecommunications Group of ITT Industries, Inc. and practiced law with Cadwalader, Wickersham & Taft L.L.P.
Jerry sits on the boards of iBiquity Digital, MTM Technologies (NASDAQ: MTMC), NewRiver, Reflexis Systems, SPADAC and Tectura.
Jerry holds a J.D. from Boston University Law School and a B.S. from the University of Connecticut. He is a member of the Bar in the States of New York and Massachusetts.
About Reflexis Systems, Inc.
Reflexis helps major retailers turn strategy into action with the integrated RetailAction™ suite of next-generation Retail Execution Management solutions. Staples, The Home Depot, Food Lion, Dickâ€™s Sporting Goods, Circuit City, and many other Retail 500 chains are relying on Reflexis to help them deliver on their retail brand promise every day. Reflexis customers have reported dramatic improvements in store-level compliance with corporate strategies, empowering them to increase average sales ticket and improve field and store management throughout their chains. Reflexis Systems, Inc. is privately held and headquartered in Norwood, Massachusetts, with international offices in the UK and India. For more information, visit http://reflexisnew.wpengine.com, email Eric.Moody@reflexisinc.com or call 781-278-9919.
Reflexis Systems, Inc.
Eric Moody, 781-278-9919 x137