News Archive

Integrated Development Enterprise, Inc. Receives $12 Million in Mezzanine Funding

CONCORD, Mass. — 29 November 2000 — Integrated Development Enterprise, Inc., (IDe) the leading provider of development chain management (DCM) software for integrated product development, today announced that it has received $12 million in mezzanine funding. The funding was led by HarbourVest Partners LLC, and included Dominion Ventures, OneLiberty Ventures and management consultants PRTM. All firms are Massachusetts-based, and all are previous investors. The funding will enable IDe to continue to expand its development, marketing and sales of innovative integrated development software solutions into high-technology industries including telecommunications, electronic equipment, chemicals, pharmaceuticals, software, computers, medical devices, automotive and aerospace.

The most comprehensive DCM solution available today, IDe's IDweb^TM is the first to capture, reconcile and make accessible -- in one integrated application -- information from the key elements of the product development chain: portfolio management, resource management, and project management, all in the context of the adopting company's established process. IDe describes this DCM implementation as the  IDweb Integration Triangle^TM. IDe's product suite is modeled on PRTM's Product And Cycle-time Excellence® (PACE®) methodology, used by hundreds of high-tech companies over the past decade to accelerate time-to-market. IDe's IDpartner^TM solution extends IDweb's capabilities to address the increasing need for product development companies to manage co-development activities with outside partners, suppliers, consultants and customers.

"This funding is indicative of the strong confidence our investors have in both our achievements and our growth potential," said Rich Moore, president and CEO of IDe. "IDe will now take our mission to the next level to help companies realize new efficiencies in the product development process. Each year, the industry spends hundreds of billions of dollars worldwide on R&D, and we're confident our solutions will lead to vastly increased throughput for those development dollars."

"Preceding technologies have helped optimize the supply chain and purchasing regimes, but none of those advances analyze market need nor help companies to develop the right products at the right time," said Rob Wadsworth, managing director of HarbourVest Partners LLC. "IDe focuses on the development chain, and its software solutions utilize the power of the Web to help companies review and select, sometimes from among hundreds of possibilities, the products that offer the most potential for success, and then to manage those development projects to completion."

"IDe's seasoned management team, long-term strategic vision, string of innovative products and growing customer list all point to exciting years ahead," said Randolph Werner, general partner of Dominion Ventures. "Dominion Ventures remains committed to helping IDe maintain its leadership position in the emerging development chain management market segment."

"To date, IDe has successfully implemented its solutions at premier product companies in the U.S.," said Stephen Ricci, founding general partner of OneLiberty Ventures. "With development chain management being accepted and embraced, now is the time for IDe to invest in expansion into Europe and Asia. Expansion into these countries makes sense due to the global aspect of product development today and the shared need for companies worldwide to better manage their R&D processes and expenditures."

"As much as it has changed in the last 15 years, the process of product development will continue to evolve quickly as industry responds to globalization, increased competitive pressures, and the influx of enabling technologies," said PRTM co-founder and IDe board chairman Michael McGrath. "Due to its integrated approach and deep expertise in this area, IDe is well positioned to become the preferred supplier of software for integrating and managing the product development process."

About Development Chain Management (DCM)
DCM applies the power of information technology to managing the business of product development. An integrated information network provides all participants in the development chain real-time insight into status of projects and portfolios, informing decision-making at all levels and maximizing precious resources. This allows companies to more fully exploit market windows, reduce wasted effort, and gain competitive advantage by improving throughput, profitability and investment performance of development efforts.

About IDe
IDe is the leading provider of development chain management (DCM) solutions that afford product companies the opportunity to make significant strides in managing the effectiveness of the product development process. IDweb, IDe's Internet-based software for integrated development, and IDpartner for integrated co-development, help organizations achieve faster time-to-market, increase development productivity, and maximize product throughput by integrating key aspects of product development management, including portfolio management, resource management, and project management. IDweb is available both as a Web-based, turnkey software solution and as a hosted application. Incorporated in June of 1998, privately-held and headquartered in Concord, Massachusetts, IDe is led by an experienced management team of product development experts and benefits from strategic relationships with management consultancy PRTM and The Performance Measurement Group (PMG), the leading supplier of online product development benchmarking solutions. IDweb is based on the Product And Cycle-time Excellence (PACE) framework developed by PRTM.

About Dominion Ventures
http://www.dominion.com/
Dominion Ventures is a venture capital company uniquely positioned to meet the needs of growing companies by providing venture leasing or private equity. Founded in 1985, Dominion Ventures was created with the goal of providing capital and value-added resources to private companies in information technology, telecommunications, and enterprise software. Dominion manages in excess of $400 million of institution equity across five funds from offices in Massachusetts and California.

About OneLiberty Ventures
OneLiberty Ventures is one of the leading venture capital firms in the East. Since its founding in 1995, OneLiberty has provided backing for more than 50 companies. Internet-related investments include Access Media, AstralPoint Communications, DataCore Software, DataSage, E-Dialog, The Extraprise Group, Indus River Networks, net.Genesis, Sitara Networks and Yantra.

About PRTM
http://www.prtm.com/
Pittiglio Rabin Todd & McGrath (PRTM) is the leading management consultancy to the technology industry. PRTM helps technology companies structure their strategies, their organizations, and their core business processes for competitiveness, profitability and growth. Since its inception in 1976, the firm has worked with over 1,000 technology companies in over 5,000 engagements worldwide.

About HarbourVest
http://www.harbourvest.com/
HarbourVest Partners, LLC, formerly Hancock Venture Partners, Inc., was established in 1982 and is now one of the largest private equity investment firms in the world, managing assets of more than $10 billion. HarbourVest has developed expertise in the areas of Internet infrastructure, networking, telecommunications, software and management buyouts. In the last two years, HarbourVest has deployed more than $500 million in more than 40 growth-stage enterprises. The firm currently has investments in the United States, Canada, Europe, Asia, Africa and Latin America. HarbourVest has offices in Boston, London and Hong Kong.

IDe, IDweb, IDpartner and Integration Triangle are trademarks of Integrated Development Enterprise, Inc. All other products and names are trademarks of their respective companies.