RealTime IT News

AristaSoft Secures $68M In Funding

AristaSoft Corporation, a leading provider of integrated business process services for the high-tech equipment industry, announced today that it has received a total of $68 million in its third round of financing. The new round of funding increases the overall venture investment in the Mountain View, Calif., ASP to $103 million.

"We've come a long way since our first customer was up and running a year ago," Lorenzo Martinelli, VP Marketing of AristaSoft, told ASP News.

AristaSoft provides network-based services to support integrated business processes across an industry's value chain. Last week, AristaSoft announced general availability of the core set of integrated business processes for the customer-facing, internal and supplier-facing functions required by its target customers in the high-tech equipment industry. (See related ASP News story on InternetNews.com, AristaSoft Launches Enterprise Integration Platform, Aug 25th 2000.)

"One of the last major milestones was to have a customer up and running several applications at once," Martinelli said. That goal was reached through voice-over-broadband developer TollBridge Technologies. Tollbridge is the first customer using AristaSoft's solution to integrate its business processes in operations and finance, collaborative manufacturing commerce and customer service management. According to Martinelli, integration and implementation of TollBridge took just 54 days.

"Normally the implementation alone takes months to complete," Martinelli said.

The company's choice to target the high-tech equipment industry is no accident, Martinelli said. "They're early adopters of business online, and they've realized that outsourcing of core activities is a viable model," he said.

AristaSoft's Enterprise Integration Platform, based on webMethods Enterprise, by Fairfax, Va. B2B integrator webMethods, Inc. , automates business processes such as quote-to-order, Internet-based customer services and supply chain management using its Collaborative Manufacturing Commerce, Customer Service Management, and Operations and Finance offerings.

"You'll see us rolling out new services in the next few months," Martinelli promised.

Azure Capital Partners led this round with the largest investment the firm has made to date in the ASP space. Founded earlier this year, Azure Capital Partners is a newly formed venture capital fund focused on Internet infrastructure technologies.

Existing investors, Warburg Pincus and Crosspoint Venture Partners, also participated in this round with significant additional investment. Several other new investors joined this round including C.E. Unterberg Towbin, Enron Broadband Services, a subsidiary of Enron Corp. , Palomar Ventures, Morgan Stanley Dean Witter & Co. , CastleRock Partners and Agile Software Corporation .