| Cadre Technologies Secures $3.75 Million Equity Investment to Expand Development, Services and Sales/Marketing Activities
July 27, 2004, Denver, CO -- Technologies, Inc. announced today that it has closed on a $3.75 million equity investment from Boulder Ventures of Boulder, CO, Appian Ventures of Denver, CO and the Cadre management team. The investment capital will fund expansion and acceleration of software development, implementation services, and sales/marketing activities.
Cadre develops Cadence Fulfillment, a unified enterprise software solution for 3rd party fulfillment and logistics companies that couples order management processes with warehouse operations and inventory. The software also processes shipments, tracks orders and delivers detailed activity billing reports. The Cadence system is built entirely on the Microsoft .NET platform. Cadre is a Microsoft Gold Certified Partner.
"We believe that a unified, homogeneous set of applications is critical to the future information technology strategy of logistics and supply-chain service providers," explained Don Kirkpatrick, Cadre's co-founder and Chairman. "This equity investment validates that Cadre delivers the software solutions most in demand by progressive operators in this dynamic marketplace."
"As offshoring and lean inventory initiatives drive annual double-digit increases in the 3rd party fulfillment and logistics industries, Cadre is positioned for tremendous growth," commented Mark Soane, Managing Director of Appian Ventures and a Cadre board member. "Cadre has the technology architecture to address the market's needs and the management experience to deliver a very compelling customer return on investment."
Cadre has recently announced Cadence Mobile Logistics which integrates speech recognition technology with traditional bar-code scanning on Windows CE and Pocket PC mobile computers. The company will also extend the wireless technology to incorporate Radio Frequency Identification (RFID) technology.
Formed in 2001, Cadre's management team has extensive experience in distribution software technology and in the supply chain industry. Cadre has offices in Denver and Ellicott City, Maryland. For more information on Cadre Technologies, contact Roger Rountree at 303-217-7056 or visit Cadre's web site at www.cadretech.com. |
