Comergent Nets $53.7M in Second-Round Financing

Distributed e-business system company Comergent Technologies Inc. completed a
$53.7 million Series B financing led by Pivotal Asset Management LLC.

Also participating were Cisco Systems Inc., Ariba Inc. and Morgan Stanley
Dean Witter Private Equity. Existing investors CrossPoint Venture Partners
and SOFTBANK Venture Capital also contributed.

Comergent said it will use the money to support a global expansion and for
sales and marketing efforts.

“Comergent is re-defining the way manufacturers, distributors and resellers
do business with one another,” said Christopher Lord, general partner at
Pivotal Asset Management. “Comergent is pioneering the business-to-business
sell-side e-commerce market and is poised to become the dominant player in
this untapped, yet highly lucrative sector.”

Additional participants in Comergent’s second round of financing include
leading investment firms, such as Amerindo Investment Advisors, Inc.,
Palantir Associates and Van Wagoner Capital Management.

Comergent’s “Distributed E-Business System” enables collaborative commerce
across a partner marketplace to increase business efficiencies between
manufacturers, distributors and resellers.