efoodmanager the leading e-commerce solution provider for the European food industry raises Euro 15 million from a consortium led by 3i, including
Gerling and Atlas Venture-
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Duesseldorf, London, Paris, Barcelona (January 22nd, 2001) efoodmanager, Europe’s leading e-Commerce solution and neutral B2B marketplace provider for the food industry, has today secured second round funding of EURO 15 million from an investment consortium led by 3i, including Gerling and Atlas Venture. The funding will be used for technology development and to further expand its existing operations in Germany, France, UK and Spain.
Founded in January 2000, efoodmanager is the leading e-commerce solution provider for the European food industry. The company develops and implements Internet-based B2B marketplaces, as well as buy and sell side e-commerce solution for European food industry organisations.
Operational in four countries, efoodmanager already has over 1000 businesses registered on its platform and signed contracts for e-commerce solution with companies including major retail groups such as the Markant Group from Germany which represents approximately 18,000 German member outlets with a turnover of DM 60.5 billion and a German food industry market share of over 17 percent.
Nicolas von der Schulenburg, Investment Manager at 3i, commented:
“efoodmanager is addressing a EURO 2000 billion market – delivering dramatic efficiency gains at each point in the procurement chain. The strength of its management team in combination with its technology and the successes it has achieved to date have convinced us that efoodmanager will become the default e-commerce solution provider for the European food industry.”
At its first financing, efoodmanager raised EUROS 5.6 million from Atlas Venture and tbg/Deutsche Ausgleichsbank. The company has since attracted leading industry players including Joel Oberman, who joined as CEO from Kellogg’s in September 2000, and Alexander Lintner, Managing Director of The Boston Consulting Group, plus Willi Schalk, former Chairman of advertising agency McCann-Erickson, who both joined efoodmanager’s Supervisory Board.
Joel Oberman, CEO of efoodmanager commented:
“We are delighted by the consortium that has chosen to invest in efoodmanager. Each member brings a powerful network to the business – 3i having a deep understanding of IT and the European food industry, with more than 170 direct food industry investments; Gerling Credit Insurance Group, the world’s third largest credit insurer, adding its 96 years of financial service experience; and Atlas Venture with its expertise in building innovative e-Commerce and IT companies. Most importantly this round of funding will enable us to further develop our leading-edge e-commerce tools and increase our industry-leading position.”
In addition, efoodmanager has today launched French and Spanish versions of its Open Market. The introduction of this online marketplace in French and Spanish follows the successful launch of efoodmanager´s Open Market in English and German in July 2000.
About efoodmanager
efoodmanager is the leading e-commerce solution provider for the European food industry. The company develops and implements exchanges, auctions, and customised B2B marketplace solution.
efoodmanager AG was founded in January 2000 and has employees from the food, e-commerce and consulting industries. The company has offices in Düsseldorf, London, Barcelona and Paris.
Free to register and free to use, efoodmanager will introduce platform fees after May, 2001.
Please visit www.efoodmanager
About 3i
3i is Europe’s leading venture capital company and a leading investor in technology businesses. Its technology portfolio (excluding co-investment funds) is currently valued at over £2 billion. 3i has over 50 years’ experience of investing in unquoted, growing businesses, and has invested almost £12 billion. A distinguishing feature of 3i is its network of contacts. 3i investment executives are assisted by a team of specialist industrial advisers, and 3i also have extensive contacts with experienced business people across all industry sectors.
Please visit www.3i.com
About Gerling
Gerling is one of Germany’s largest insurance companies, focusing on all aspects of insurance, capital investment, risk management and consultancy.
The group currently employs 12000 people across 30 countries, with a premium income of DM 18 billion. Gerling also makes a selective number of venture capital and private equity investments.
Please visit www.gerling.de
About Atlas Venture
Atlas Venture, is the leading international, early-stage venture capital firm investing in Internet, communications, and health and life sciences companies. With offices in Amsterdam, Boston, London, Menlo Park, Munich, Seattle and Paris, Atlas Venture’s investments are split evenly between the United States and Europe.
Founded in 1980, Atlas Venture manages $1.6 billion in committed capital.
The Atlas Venture investment team is comprised of seasoned operating executives and career venture capitalists that have been deeply involved in the formation and development of more than 300 companies – from entrepreneurial startups to industry-leading enterprises – worldwide.
Recent Atlas Venture portfolio company IPOs include Actelion (SWX: ATLN),
deCODE genetics (Nasdaq & Easdaq: DCGN), Exelixis (Nasdaq: EXEL), Modex Thérapeutiques SA (SWX: MDXN), Orchestream Ltd (LSE: OCH), SpeechWorks International (Nasdaq: SPWX), and Variagenics (Nasdaq: VGNX). Recent acquisitions of Atlas Venture portfolio companies include Cerulean Technology (Aether), eGroups (Yahoo), OnDisplay (Vignette), Trading Dynamics (Ariba), Omnia Communications (CIENA), RightPoint Software (E.piphany), Element 14 (Broadcom) and T.sqware (GlobeSpan). For more information, see www.atlasventure.com.
