Wednesday, February 27, 2008

Proficiency, Inc that enable manufacturers and their suppliers to extract and share product knowledge raised $4.25 million in funding

What Company Is Offering:
Proficiency, Inc., is the leading developer of solutions that enable manufacturers and their suppliers to extract and share product knowledge from diverse engineering and manufacturing environments.

The solution significantly reduces cost, risks, and errors while improving profitability by shortening delivery times, promoting re-use and protecting intellectual property (IP) assets during collaboration.

Global enterprises in the automotive, aerospace & defense, and heavy machinery industries such as Ford Motor Company, Boeing, European Aeronautic Defense & Space Company (EADS), and Bombardier, Inc. use Proficiency's Collaboration Gateway™ in their heterogeneous PLM and multi-CAD environments to ensure effective product knowledge integration (PKI) during design and manufacturing processes.

How Much They Got From VCs:
They announced that it has raised $4.25 million in funding led by Catalyst Investment. Current investors, Carmel Ventures and Pitango Venture Capital also participated in the funding. Proficiency, with mature and proven CAD interoperability solutions, will use the funding to expand its market penetration and to further its already strong technological lead in the industry by developing new applications and breakthrough solutions.

About VCs:
Catalyst Funds are Israeli-based private equity funds investing in mature technology-related companies that are in pre-IPO, expansion, buyouts, or turnaround phases. Investment targets consist of companies with technologies and products that answer market needs, strong management and significant growth potential in the European and North American market. Their goal is to provide maturing companies with the necessary resources to attain global leadership in their respective market sectors. Catalyst enhances the value of invested companies by using its wide European network, available operating platforms of its partners and the diverse background of our general partners.

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