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TEAMSHARE, INC. RECEIVES SECOND FINANCING FROM DENVER-BASED STURM GROUPNew Funds Introduced to Fuel Partner Growth and Expand Market PresenceCOLORADO SPRINGS, Colo. (October 23, 2001) - TeamShare, Inc. a leading provider of Web-architected process management and issue tracking software, today announced that it has successfully completed a second round of financing for up to $3 million from the Sturm Group, a leading private equity investment firm founded by Denver businessman and philanthropist Donald Sturm. Proceeds, which are fully committed, will be drawn by the company as needed through December 2002. TeamShare will use its newly acquired funds to accelerate its growth strategy particularly in the arenas of expanding its strategic partner alliances and promoting its products into new markets. The Sturm Group had previously invested $8 million in TeamShare in March 2000. "Businesses are rapidly gaining insight to the value of solutions that enable them to target and correct mission critical issues, which if left unchecked can be costly and damaging to operations. The quality of our products, our employees and core business strategies contributed to the Sturm Group's willingness to make this incremental investment," said TeamShare CEO Bruce Huebner. TeamShare, together with its solution alliance partners, delivers enterprise level Web-architected software solutions that enable businesses to identify and track mission critical issues that require strong process control and problem management. Today, the Company's solutions are focused primarily on the software development and design management marketplace. However, TeamShare's powerful TeamTrackâ platform can be implemented using industry-specific knowledge to streamline virtually any business process and to enhance collaborative product development activities between businesses and their customers, suppliers and partners. TeamShare's products are highly configurable; their Web architecture makes them simple to implement and maintain keeping the cost of ownership low. For more information, contact TeamShare, Inc. by phone at 888-TEAMSHARE (832-6742), via e-mail at inquiries@teamshare.com or on the Web at www.teamshare.com. Editorial Contact: Paul Suter Suter Communications, Inc. 303-694-9232 sutercomm@aol.com top of page |
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