Reflexis Systems, Inc., the leading Retail
Task/Execution Management software vendor, announced that it has
completed a $10 million funding from Pequot Ventures, the direct
private equity investment arm of Pequot Capital Management, Inc., a
leading asset management firm. Reflexis will use the funds to expand
sales and marketing to further enhance its leading position in the
retail task/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 Pequot, 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 validated our investment decision. We are
delighted to partner with them in their growth phase," said Mr. Poch.
In his article, Rob Garf, an AMR Research director says "Task
management is still a relatively new application for retailers, but
should see significant market growth as organizations look for new
ways to increase store productivity. Retailers are using this
practical application to directly manage cross-functional workflows
between corporate merchants and widely distributed store locations,
create enterprise visibility into task compliance, and ensure
consistent store operations".
"We are delighted to be associated with Pequot Ventures 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 Pequot Ventures
Pequot Ventures is the direct venture investment arm of Pequot
Capital Management, Inc. focused on today's most dynamic startup and
growth stage companies in the technology, telecommunications, defense
and healthcare sectors. Pequot Ventures creates value by bringing
energy and substantial sector expertise to its portfolio companies
through the collective intellectual capital, deep operating
experience, and extensive network of its investment team. The firm
leverages its unique multi-billion dollar presence across both public
and private equity markets to help build competitive, sustainable
businesses in fast changing environments throughout their lifecycle.
Pequot Ventures accomplishes this goal in close partnership with the
founders and management team of its portfolio companies.
For more information, visit http://www.pequotventures.com.
Gerald A. Poch is a Senior Managing Director of Pequot and co-head
of Pequot Ventures. Mr. Poch has more than 30 years of operating and
investment experience. Prior to Pequot, Mr. Poch served as Chairman,
President and CEO of GE Capital Information Technology Solutions, an
independent provider of information technology products and services.
Mr. Poch was also co-founder, Co-Chairman and Co-President of
AmeriData Technologies, Inc., a NYSE company, until its acquisition by
GE Capital in 1996. Prior to founding AmeriData, Mr. Poch was
President of SBC Technologies, Inc., a nationwide operator of radio
stations. From 1979 until 1983 he was Senior Vice President of
TIE/Communications, Inc. and President of Technicom, Inc., two public
telecommunications companies. Prior to that, Mr. Poch was General
Counsel to the North America Telecommunications Group of ITT
Industries, Inc. and practiced law with the Wall Street firm of
Cadwalader, Wickersham & Taft L.L.P.
Mr. Poch currently serves on the Board of Directors of Analex
(AMEX: NLX), Andrew (NASDAQ: ANDW), iBiquity Digital, MTM Technologies
(NASDAQ: MTMC), Navic Networks, NewRiver, Tectura and Vallent.
About Reflexis Systems, Inc.
Reflexis helps major retailers turn strategy into action with the
integrated RetailAction(TM) suite of next-generation Retail Execution
Management solutions. Staples, The Home Depot, Food Lion, Dick's
Sporting Goods, B&Q, 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://www.reflexisinc.com/, email Keshav.Shivdasani@reflexisinc.com
or call 781-278-9919.
