Entigo Secures $3 Million Investment; Investment Enables Expansion of Warranty Chain Management Leader's Sales, Marketing and R&D Efforts; Validates Entigo Warranty's Business Value
MALVERN, Pa.--July 29, 2003--Entigo Corporation, a leading provider of warranty chain management solutions, today announced it raised $3 million in additional financing. The financing was provided by the company's existing investors including Boston Millenia Partners, Ascent Ventures, North Hill Ventures, Birchmere, Advent and Four Seasons Venture Capital. Entigo will use this funding to expand its sales and marketing efforts and increase R&D to enhance its Entigo Warranty(TM) product."Entigo's comprehensive warranty products, strong and loyal customer base, positive sales momentum and experienced management team will result in tremendous opportunities for future substantial growth," said Suresh Shanmugham, partner, Boston Millenia Partners. "We are confident that Entigo will maintain market leadership as the global warranty chain management market grows."
Entigo's latest round of investment will help support the company's record growth and sales momentum from the first half of 2003. Entigo will leverage this funding to aggressively expand its sales and marketing efforts and strengthen its management team - the company recently announced the hiring of Ron Raab as vice president of business development, David Pelton as vice president of marketing, and appointed Michael Cusumano to Entigo's board of directors.
The Entigo Warranty product provides a cost-effective alternative to outdated warranty management, reporting and analysis systems. Entigo Warranty helps customers reduce internal warranty costs, improve supplier cost recovery, increase revenue and strengthen customer and channel loyalty.
"We understand enterprises' most challenging warranty issues, and will continue to expand our impressive roster of enterprise customers, which currently include ArvinMeritor, Volvo Trucks, Eaton and Carrier," said Steve Layne, president and CEO of Entigo. "This latest round of funding will help us build upon our recent successes and move into our next stage of growth, while continuing to provide business value to customers who require a comprehensive warranty solution to reduce costs and increase revenue."
Entigo Warranty solves core business issues with warranty and claims processing by leveraging advanced technology, such as a J2EE platform, to deliver reliable, scalable, enterprise-class solutions. Best-of-breed functionality allows users to specify business rules that automate claims processing for the majority of claims and highlight claims outside the normal scope for further review. Web-enabling the warranty solution provides more efficient access for warranty chain companies such as manufacturers, suppliers, dealers and repair centers.
About Entigo
Entigo is the world's leading provider of warranty chain management solutions. With the Entigo Warranty platform, customers save millions through efficient and accurate claims processing, increased supplier cost recovery, and accelerated problem identification and resolution. Entigo's Fortune 500 customers include ArvinMeritor, Carrier Corporation, Eaton, Ford Motor Company, GE Lighting Europe, General Motors Corporation, Honeywell Aerospace, Michelin North America, and Volvo/Mack Trucks. Entigo is headquartered in Malvern, PA and is on the web at www.entigo.com.
Copyright (C) 2003 Entigo Corporation
Entigo and Entigo Warranty are trademarks of Entigo Corporation. All other trademarks contained herein are property of their respective owners.