Velosel Secures $10 Million in Series C Round; Announces New Customer Wins

May 30, 2003

Velosel Corporation has secured $10 million in its Series C round. The company has also announced new customers, including The Clorox Company, E. & J. Gallo Winery, and Wyeth. Velosel is a provider of Collaborative Product Information Management (CPIM) applications. CPIM applications combine item data management capabilities with business process automation that ties together the human stakeholders and the business systems, facilitating true intra- and extended-enterprise collaboration. CPIM applications enable manufacturing and retail organizations to create and maintain an enterprise data repository for all product information across the enterprise. CPIM applications also enable synchronization of product data with business partners. This process, referred to as Global Data Synchronization (GDS), is the means by which product information stored by one company matches the corresponding data in the systems of its business partners. Velosel's flagship CPIM product, Velosel5, is available in two editions: one for manufacturers and another for retailers. These CPIM applications enable manufacturing and retail organizations to overcome the data management and GDS challenges. Velosel will use the Series C round to further the development of its Collaborative Product Information Management (CPIM) products as well as expand its sales and marketing efforts. The round is led by Levensohn Venture Partners. Mobius Venture Capital, Pacific Partners, and Walden International also participated in the Series C round. Velosel announced three new customers of its CPIM technology. These customers include: the Clorox Company--a manufacturer and marketer of consumer products; E. & J. Gallo Winery--a winemaking operation employing more than 4,600 people and marketing its wines throughout the U.S. and over 90 foreign countries; and Wyeth--a research-driven pharmaceutical and health care products company.

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