New York, NY, Sept. 24, 2001 – DWL Incorporated, a leading provider of enterprise
customer management applications, today announced the completion of a third round of
financing led by U.S.-based investors Insight Venture Partners and MMC Capital, Inc., a
wholly owned subsidiary of Marsh & McLennan Companies, Inc. Insight Venture Partners
and MMC Capital Technology Fund II invested US$31 million in DWL.
DWL’s enterprise customer management applications
consolidate fragmented CRM, back-office and e-business systems into unified industry
solutions. DWL’s enterprise applications deliver a real-time business process platform and
customer integration software to create new customer-centric business processes.
“This is a significant investment for Insight as we
are seeing a dramatic increase in the demand for real-time enterprise customer management
applications that enable organizations to make leaps in customer interaction through more
efficient uses of existing data and technology infrastructures,” said Jeff Horing,
managing director and co-founder, Insight Venture Partners. “The strength of DWL’s
enterprise-level products and the market momentum they are gaining puts the company in a
strong position to become a dominant player in this space.”
“Enabling real-time customer management across the
enterprise is the approach organizations choose to achieve customer-centric business
process innovation,” said Justin LaFayette, chairman and co-founder, DWL
Incorporated. “This investment brings us business partners whose value extends beyond
the capital that they are providing the company. It further validates the strength of our
applications and their value for organizations who want to maintain a competitive lead.”
DWL plans to use the capital injection to support its
operations, to accelerate expansion into new markets, to support product development and
finance strategic acquisitions. DWL has also announced the addition of Jeff Horing,
managing director and co-founder, Insight Venture Partners, Peter Sobiloff, managing
director Insight Venture Partners, and Bruce Ferland, principal, MMC Capital to DWL’s
board of directors.
About Insight Venture Partners
Founded in 1995, Insight Venture Partners is a leading
private equity firm that invests in companies in the enterprise software segment of the
information technology industry. Insight maintains positions in more than 50 portfolio
companies throughout North America, Europe and Asia, and has approximately US$1 billion in
private investor funds under management. Over the past two years, several members of
Insight’s portfolio, See Beyond Technology Corporation (Nasdaq: SBYN), Click Commerce,
Inc. (Nasdaq: CKCM), I-many, Inc. (Nasdaq: IMNY), Illuminet (Nasdaq: ILUM), Cbridge
Internet Solutions (Nasdaq: CBIS), SynQuest, Inc. (Nasdaq: SYNQ) and Quest Software
(Nasdaq: QSFT), debuted as public companies and currently represent in excess of US$2.8
billion in market capitalization. Insight has built a strong global reputation for being a
value-added partner to senior management of high growth e-business companies.
About MMC Capital, Inc. and MMC Capital Technology Fund II
MMC Capital, Inc. is a global private equity firm that
serves as the investment manager to three families of funds that have received more than
US$2 billion of capital commitments. MMC Capital is a wholly owned subsidiary of Marsh
& McLennan Companies, Inc., a global professional services firm providing risk and
insurance services as well as investment management and consulting services.
MMC Capital formed MMC Capital Technology Fund II, L.P. in
2000 with committed capital of US$250 million. MMC Capital Technology Funds focus on
investments in e-commerce and software companies with distinctive value propositions in
financial services and related industries.
About DWL Incorporated
Founded in 1996, DWL is headquartered in Toronto with
offices in New York, London, Paris and Sao Paulo. DWL clients include AXA, Manulife
Financial, MetLife, Erie Insurance, Royal & SunAlliance, The Body Shop and Cara Foods.
DWL has system integrator and platform relationships with IBM, Accenture, Sun
Microsystems, BEA Systems and Palm Computing. For more information about DWL and its
products and services, please visit www.dwl.com.