SOURCE: Amitive

 

Amar Singh, president and CEO, Amitive

REDWOOD CITY, CA--(Marketwire - July 22, 2008) - Mitrix, Inc. today made a series of announcements reinforcing its commitment to drive the new market for on-demand Community Supply Chain Management (C-SCM) solutions for virtual manufacturers. Mitrix changed its name to Amitive, effective immediately, and is led by former SAP and i2 executive Amar Singh who joined last year as president and Chief Executive Officer. Amitive also announced a $6 million extension of its A-round funding by CMEA Ventures and Logispring. The funding, which extends the $10 million invested in August 2006, supports Amitive's commitment to deliver a new breed of SCM solutions through expanded sales, marketing and product development efforts.

According to an upcoming AMR Research report, the SCM market is estimated at $6.455 billion (The Supply Chain Management Market Sizing Report: 2007-2012, August 2008).

A 17-year industry veteran, Mr. Singh joined Amitive with a full range of supply chain management expertise, including executive leadership positions at SAP and i2, as well as real-world supply chain management experience at Procter & Gamble, Warner Lambert, and Bain & Company.

"There is a major functionality gap in traditional SCM solutions, which were designed for manufacturing-centric companies focused on optimizing manufacturing asset utilization. Today's virtual manufacturers outsource their manufacturing, and therefore must orchestrate a complex community of supply and manufacturing partners, while also keeping innovation and customer satisfaction front and center," said Amar Singh, president and CEO, Amitive. "By providing customers with a practical, purpose-built, on-demand solution for this reality, Amitive is the only vendor delivering on a completely new vision for supply chain excellence."

Prior to Amitive, Mr. Singh was a senior vice president at SAP, where he led global engineering for SAP's entire SCM, Product Lifecycle and Manufacturing solutions, managed the global product management organization for SCM, and served as the general manager of the RFID business unit. Mr. Singh was the founder and CEO of Simplexis, a SCM software company for the public sector. He graduated with a Mechanical Engineering degree from University of Ilorin, Nigeria, earned a Masters in Operations Research from University of Waterloo, Canada, and completed an MBA at the Harvard Business School.

"With deep experience in all facets of the supply chain, Mr. Singh has not only led product development for global leaders in SCM software, but he has also walked in his customers' shoes," said Jim Watson, Chairman of the Board of Amitive, and co-lead investor for CMEA. "As the market further progresses from manufacturing-centric to virtual manufacturing, we are confident in Mr. Singh's ability to continue the company's strong momentum in the industry, and deliver on the vision of a new breed of community-based supply chain management solutions."

Amitive is pioneering a new class of software purpose-built for C-SCM. The Amitive suite is the only Software as a Service (SaaS) application designed specifically for today's virtual manufacturers within the new community-focused SCM model. Amitive unifies cross-community business processes within a single, on-demand application, enabling supply chain professionals to collaborate with trading partners to plan, source, inventory and fulfill products -- and manage the risk inherent in these processes -- across the entire trading community.

Additional Quotes

--  "Amitive is the first company to deliver a new approach to supply
    chain management for the growing realm of virtual manufacturers. Brand
    owners can now shed their 'management-by-spreadsheet' band-aid and quickly
    realize the advantages they've sought by focusing on brand and product
    management and outsourcing manufacturing," said Padman Ramankutty, Amitive
    Board Member and Partner, Intrigo Systems, LLC.
    
--  "Brand owners have shifted their business model from in-house
    manufacturing to virtual manufacturing. The story that everyone has missed,
    however, is that supporting supply chain management technology hasn't kept
    up. Amitive has smartly put their finger on the problem and is the first
    solution to fill this gap, enabling companies with community supply chain
    management," said Frans van Schaik, Amitive Board Member and Managing
    Partner, Logispring -- the lead investor in Amitive.
    

About CMEA Ventures

CMEA Ventures is a venture capital firm focused on life sciences, high technology and energy & materials investments. CMEA believes that the most successful venture backed companies are science focused with experienced teams intent on winning. As a result, CMEA's portfolio companies typically have cutting edge and highly differentiated technology at their core, with founding teams of the highest caliber. CMEA invests in both early and late stage ventures, and has a strong network of corporate, investment and entrepreneurial relationships that it leverages on behalf of its portfolio companies. The firm currently manages six funds representing investments in excess of $1 billion. CMEA has been an early stage investor in many leading Silicon Valley high technology companies, including Entropic (ENTR), Flextronics (FLEX), Magma (LAVA), Maxygen (MAXY), Monogram Biosciences (MGRM), Silicon Spice (BRCM), Symyx (SMMX), and Syrrx (purchased by Takeda.) CMEA Ventures was founded in 1989 and maintains offices in San Francisco and Menlo Park. CMEA's partners and associates have extensive science, engineering and operational backgrounds that particularly suit CMEA's focus on technology and teams -- an effective differentiator for entrepreneurs and venture investment partners who dare to change the world, one great company at a time. For more information, visit www.cmeaventures.com.

About Logispring

Logispring is a venture capital firm with a "balanced portfolio" strategy focused on building businesses for global supply networks (industrial processes, logistics, manufacturing). The firm has a transatlantic portfolio, and is gradually expanding into other parts of the world. The key ingredients of Logispring's strategy, and the drivers of the firm's success, are its focus on supply networks, its international scope, and the quality and passion of its team. For more information, visit http://www.logispring.com.

About Amitive

Amitive is the pioneer of "Community Supply Chain Management" software, which provides virtual manufacturing companies with on-demand, continuous synchronization of supply and demand across a broad, disperse supply chain community. Unlike traditional SCM solutions which optimize against hard manufacturing constraints, Amitive unifies business processes on a single application, enabling supply chain professionals to collaborate with trading partners in real-time and gain end-to-end visibility across the entire trading community. Amitive helps customers to lower inventory and capital requirements, manage business risk, boost product velocity and enhance customer service levels. Visit www.amitive.com for more information.

All products mentioned in the release are trademarks or registered trademarks of Amitive. All other trademarks, trade names, and/or product names are used solely for the purpose of identification and are the property of their respective owners.