B2eMarkets Secures $38 Million in Funding Led by CIBC Capital Partners

One of the Top Five Venture Capital Investments Announced this Year

In Metro-Washington Area



Apr 23, 2001, 01:00 ET from B2eMarkets, Inc.

    ROCKVILLE, Md., April 23 /PRNewswire Interactive News Release/ --
 B2eMarkets, Inc., provider of the first end-to-end, Web-enabled strategic
 eSourcing solution, today announced it has secured $38 million in funding led
 by CIBC Capital Partners.  Other investors include Accenture Technology
 Ventures, FBR Technology Venture Partners, Syncom (Syndicated Communications),
 Cathage Partners, and Ascend Venture Group.
     "This is an important milestone that B2eMarkets announced today," said
 Orville Bailey, chief executive officer and co-founder of B2eMarkets.  "In
 raising $38 million from premier venture investors, the company now has the
 resources it needs to be a clear leader in the strategic sourcing market --
 one of the fastest growing segments in e-commerce."
     "We invested in B2eMarkets because we think they have the right vision to
 take advantage of what is clearly an immense and untapped opportunity in the
 strategic sourcing space," said Teddy Rosenberg of CIBC Capital Partners.
 "Their ability to deliver sustained sourcing performance is already resonating
 with more than 20 customers across three continents, including Praxair,
 Millenium Inorganic Chemicals, Invensys, and White Martins, as well as
 alliance partners Accenture and Cap Gemini Ernst & Young."
     B2eMarkets secured its current funding in the midst of one of the most
 difficult venture capital financing environments of the past 20 years.
 According to Venture Economics, venture funding in the first quarter was down
 more than 70 percent from a year ago, both nationally and in the Washington,
 D.C. area.  B2eMarkets' current funding is in the top five of total capital
 raised among all private venture funding deals closed in the Washington
 metropolitan area this year, based on data released by Pricewaterhousecoopers.
     With this new funding, B2eMarkets will focus on further strengthening its
 global presence to support the growing demand for strategic sourcing solutions
 internationally.  The company will also be ramping up global marketing and
 sales efforts.  Product development will continue to be core focus for the
 company.  B2eMarkets is planning a new product launch at the National
 Association of Purchasing Management conference later this month.
     "This current round of funding validates the strength of B2eMarkets'
 business model and our leadership position in the strategic sourcing space,"
 said Richard Waugh, executive vice president and co-founder of B2eMarkets.
 "Along with our robust customer pipeline, this round of funding will take us
 through profitability and provide the flexibility to make strategic moves in
 the space."
     B2eMarkets' solution enables procurement professionals to electronically
 research, evaluate, plan, and negotiate the lowest total cost of ownership for
 the majority of their corporate spend on goods and services, including
 strategic purchases such as direct goods; capital equipment; or company
 maintenance, repair, and operations (MRO).  Companies subscribe to this
 hosted, Web-based software solution to enable their sourcing professionals to
 analyze both internal and external data to determine and execute an effective
 eNegotiation strategy.  Buyers can submit detailed, total-cost request for
 quotations (RFQs) to their list of qualified suppliers in either a Private
 Offer or reverse auction eNegotiation to negotiate the lowest total cost for
 their purchase agreements.
 
     About B2eMarkets
     B2eMarkets has developed the first end-to-end, intelligent eSourcing
 application that allows buyers to negotiate the lowest total cost for
 purchased goods and services.  B2eMarkets' strategic sourcing solution is
 embedded with a proven sourcing methodology, content, and coaching to capture,
 retain, and share sourcing information.  With the solution, buyers can
 research supply markets, create multi-variable RFQs, and manage Multi-round
 Private Offer and reverse auction eNegotiations.  B2eMarkets, Inc., is a
 privately held company headquartered in Rockville, Maryland, USA.  For more
 information, visit http://www.B2eMarkets.com .
 
     About CIBC Capital Partners
     CIBC Capital Partners is a leading North American merchant bank and part
 of CIBC World Markets, Canadian Imperial Bank of Commerce's investment bank.
 CIBC Capital Partners is invested in over 200 companies and in approximately
 100 private equity funds around the world, with total commitments in excess of
 $5 billion.  CIBC Capital Partners' merchant banking activities include
 private equity investments in venture capital, leveraged buyouts, and other
 special situations.  CIBC Capital Partners venture capital investments are
 primarily focused on the telecommunications, technology, and health care
 industries.  Merchant banking professionals are located in New York, Menlo
 Park, Toronto and Dublin.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43598348
 
 

SOURCE B2eMarkets, Inc.
    ROCKVILLE, Md., April 23 /PRNewswire Interactive News Release/ --
 B2eMarkets, Inc., provider of the first end-to-end, Web-enabled strategic
 eSourcing solution, today announced it has secured $38 million in funding led
 by CIBC Capital Partners.  Other investors include Accenture Technology
 Ventures, FBR Technology Venture Partners, Syncom (Syndicated Communications),
 Cathage Partners, and Ascend Venture Group.
     "This is an important milestone that B2eMarkets announced today," said
 Orville Bailey, chief executive officer and co-founder of B2eMarkets.  "In
 raising $38 million from premier venture investors, the company now has the
 resources it needs to be a clear leader in the strategic sourcing market --
 one of the fastest growing segments in e-commerce."
     "We invested in B2eMarkets because we think they have the right vision to
 take advantage of what is clearly an immense and untapped opportunity in the
 strategic sourcing space," said Teddy Rosenberg of CIBC Capital Partners.
 "Their ability to deliver sustained sourcing performance is already resonating
 with more than 20 customers across three continents, including Praxair,
 Millenium Inorganic Chemicals, Invensys, and White Martins, as well as
 alliance partners Accenture and Cap Gemini Ernst & Young."
     B2eMarkets secured its current funding in the midst of one of the most
 difficult venture capital financing environments of the past 20 years.
 According to Venture Economics, venture funding in the first quarter was down
 more than 70 percent from a year ago, both nationally and in the Washington,
 D.C. area.  B2eMarkets' current funding is in the top five of total capital
 raised among all private venture funding deals closed in the Washington
 metropolitan area this year, based on data released by Pricewaterhousecoopers.
     With this new funding, B2eMarkets will focus on further strengthening its
 global presence to support the growing demand for strategic sourcing solutions
 internationally.  The company will also be ramping up global marketing and
 sales efforts.  Product development will continue to be core focus for the
 company.  B2eMarkets is planning a new product launch at the National
 Association of Purchasing Management conference later this month.
     "This current round of funding validates the strength of B2eMarkets'
 business model and our leadership position in the strategic sourcing space,"
 said Richard Waugh, executive vice president and co-founder of B2eMarkets.
 "Along with our robust customer pipeline, this round of funding will take us
 through profitability and provide the flexibility to make strategic moves in
 the space."
     B2eMarkets' solution enables procurement professionals to electronically
 research, evaluate, plan, and negotiate the lowest total cost of ownership for
 the majority of their corporate spend on goods and services, including
 strategic purchases such as direct goods; capital equipment; or company
 maintenance, repair, and operations (MRO).  Companies subscribe to this
 hosted, Web-based software solution to enable their sourcing professionals to
 analyze both internal and external data to determine and execute an effective
 eNegotiation strategy.  Buyers can submit detailed, total-cost request for
 quotations (RFQs) to their list of qualified suppliers in either a Private
 Offer or reverse auction eNegotiation to negotiate the lowest total cost for
 their purchase agreements.
 
     About B2eMarkets
     B2eMarkets has developed the first end-to-end, intelligent eSourcing
 application that allows buyers to negotiate the lowest total cost for
 purchased goods and services.  B2eMarkets' strategic sourcing solution is
 embedded with a proven sourcing methodology, content, and coaching to capture,
 retain, and share sourcing information.  With the solution, buyers can
 research supply markets, create multi-variable RFQs, and manage Multi-round
 Private Offer and reverse auction eNegotiations.  B2eMarkets, Inc., is a
 privately held company headquartered in Rockville, Maryland, USA.  For more
 information, visit http://www.B2eMarkets.com .
 
     About CIBC Capital Partners
     CIBC Capital Partners is a leading North American merchant bank and part
 of CIBC World Markets, Canadian Imperial Bank of Commerce's investment bank.
 CIBC Capital Partners is invested in over 200 companies and in approximately
 100 private equity funds around the world, with total commitments in excess of
 $5 billion.  CIBC Capital Partners' merchant banking activities include
 private equity investments in venture capital, leveraged buyouts, and other
 special situations.  CIBC Capital Partners venture capital investments are
 primarily focused on the telecommunications, technology, and health care
 industries.  Merchant banking professionals are located in New York, Menlo
 Park, Toronto and Dublin.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43598348
 
 SOURCE  B2eMarkets, Inc.