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Vancouver, BC, September 20, 2004 - Antarctica Systems Inc., a provider of enterprise Business Performance Management (BPM) software, today announced that it has secured CAD $4.2 million in additional equity financing. The investment will be directed primarily towards operational and business expansion. The financing round was led by a syndicate of existing investors including RBC Capital Partners, BDC Venture Capital, GrowthWorks and two new investors, Greenstone Venture Partners and Springbank Tech Ventures.
"We are very excited to announce this infusion of funding capital, which enables Antarctica to expand its operations to deliver even more value to our customers," says Antarctica Systems Inc. President and CEO, Barry Yates. Antarctica’s flagship product, Visual Net, helps users analyze issues, pinpoint the right questions to ask (often questions they didn’t even know they had), and make better decisions. "Many companies are unable to reach their full potential because of the gap that exists betweens strategy and execution. This is, in part, because existing BPM systems do not meet the needs of those individuals most critical to execution within an organization," says Barry Yates. Visual Net delivers a compelling ROI because strong execution impacts performance and profits.
"Our research indicates that Corporate and Business Performance Management is an area that corporations are targeting for investment," said Stan Elbaum, Senior Vice-President, Research for the Aberdeen Group. "Companies deploying Best in Class Performance Management processes and technologies are significantly outperforming their competitors across a range of Key Performance Indicators, such as Return on Assets. The ability of decision makers to quickly understand the root causes of performance, in a complex multi-dimensional world has been identified as a key challenge to success, and Antarctica’s visualization solutions should enable users to make much more profitable and effective use of their available information." "Content visualization should be a key part of any Business Performance Management System," observed Geoffrey Bock, Senior Vice-President at the Patricia Seybold Group. "Visual Net from Antarctica provides the graphical and interactive capabilities to visualize content in context. The end result is an intuitive set of visual page displays (rather than a static table of numbers) that decision makers can actually use."
"We continue to see significant strides in Antarctica’s role in the marketplace, both as a superior software provider and developer of Business Performance Management solutions," said Barrie Laver, Managing Director, RBC Capital Partners. "Our on-going interest and investment in the company allows us to support the company’s growth as it solidifies sales and expands operations." "Antarctica is filling a large void in the enterprise Business Performance Management arena," states Andrew Lugsdin, Director, BDC Venture Capital. "We are pleased to be part of Antarctica’s continued success in delivering superior products coupled with their maniacal focus on delivering tangible results to their customers. We are very excited to be involved in the next stage of the company’s evolution."
About Antarctica Systems Inc.
Antarctica Systems Inc. is a Business Analytics software provider founded by XML co-creator and Open Text Inc. founder, Tim Bray. Antarctica’s mission is to provide the last mile of Business Intelligence. Its flagship solution, Visual Net, is an intuitive and visual console geared specifically towards the business users. It allows them to explore and investigate their businesses in order to understand root causes of performance, identify threats and opportunities and answer the question 'why.’ Visual Net also enables users to explore and distill vast amounts of data, shifting their focus from analysis to insight and action.
The company is privately held with headquarters in Vancouver, B.C. and sales offices across North America. For additional information, please visit www.antarctica.net.
Antarctica and Visual Net are trademarks or registered trademarks of Antarctica Systems Inc. in Canada and foreign countries. All other referenced trademarks belong to their respective owners.
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