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Vizional Announces Completion of Series A Funding to Support New RFID Event-Driven Solutions; Capital to Scale Software Licensing Business and Accelerate Sales and MarketingEL SEGUNDO, Calif. --(Business Wire)-- March 1, 2005 -- Vizional Technologies, Inc. (www.vizional.com), a leading provider of RFID Event-Driven Supply Chain Solutions for logistics, transportation and retail industries, today announced the completion of a $3.5 million Series A financing led by Draper Fisher Jurvetson and Zone Venture Fund. The financing also involved the conversion of certain outstanding securities into common stock. Proceeds will be used to scale Vizional's product business and to further its sales and marketing activities in support of its advanced RFID-enabled, Event-Driven Supply Chain Solutions. Vizional provides complete RFID solutions for High-Velocity Distribution and Mobile Asset Management. Building on a five-year foundation of supply chain visibility solutions for Fortune 1000 companies, Vizional is uniquely positioned to lead the emerging market for RFID-enabled supply chain applications. According to Frost and Sullivan, the RFID-based applications market will grow to $11.7 billion by 2010 with supply chain management being a significant contributor to these overall revenues. Vizional's patent-pending technology leverages recent innovations in RFID and other Auto-ID technologies to automate and enhance supply chain business processes. Vizional's Event-Driven Supply Chain Solutions fuse enterprise data with relevant operational information enabling companies to manage and track the movement of assets and inventory along the supply chain. Vizional applications are built upon Vizional's distributed data management platform that allows customers to scale to meet enterprise requirements and seamlessly integrate across multiple facilities and to other operating and ERP systems. "Our investors are very committed to Vizional and believe in the value that our new RFID-enabled applications deliver to our target industries," stated Tim Harvie, president and CEO of Vizional Technologies. "Vizional's suite of supply chain solutions uniquely leverages RFID in delivering unprecedented capabilities in the management of mobile assets and inventory." Vizional's Event-Driven Supply Chain Solutions -- Vizional Enterprise RFID(TM) is a Supply Chain Event and Order Management solution that provides end-to-end visibility to physical, document and financial flows in the supply chain. It improves the reliability and quality of supply chain execution while reducing costs. It enables large organizations to respond to changes, disruptions and opportunities in a timely, efficient manner. -- Vizional Plan RFID(TM) is a collaborative planning and optimization tool allowing customers, their suppliers and partners to collaborate in a near real-time planning environment in order to gain efficiencies in their supply chain. The product accepts static production plans from major planning engines such as i2(TM) and most ERP applications. The planning environment in Plan RFID allows users to rebalance supply and demand within a customer's supply chain. -- Vizional Yard RFID(TM) delivers value to trucking terminals, distribution facilities and crossdock operations through enhanced trailer and handling unit management within yard operations. -- Vizional Crossdock RFID(TM) manages trailer receipts, the flow of product across the dock, outbound loads, and the planning of dock labor and activity. -- Vizional Vehicle RFID(TM) provides both new and salvage vehicle distribution customers with RFID capabilities to more effectively and efficiently locate and process vehicles. About Vizional Technologies Founded in 1999, Vizional is dedicated to developing enterprise-class, RFID-enabled software applications that improve the efficiency and effectiveness of business processes involved with the high-velocity distribution, movement and tracking of assets and inventory. Building on a five-year foundation of supply chain management and visibility solutions to Fortune 500 companies, Vizional is uniquely positioned to lead the emerging market for RFID-enabled supply chain applications. Headquartered in El Segundo, California and managed by supply chain industry veterans, Vizional understands the unique business needs of the extended supply chain in the logistics, transportation, and retail industries. Vizional has delivered Event-Driven Supply Chain Management solutions for global customers including Maersk Logistics, Philips Semiconductors and ST Microelectronics. For more information, call Vizional at 310-570-2000 or visit www.vizional.com. |
