It appears that Savi has not raised any new money since May 2002, which would seem to indicate that they are either profitable or close to it. A possible 2004 IPO IMHO. Savi's investors:
savi.com
Savi has secured financing and access to management expertise from top-tier investors, including leading venture capitalists, corporate venture funds, and individuals who recognize the tremendous potential of our Savi SmartChain™ solutions for real-time supply chain security and asset management. The company has received three rounds of private financing, representing a total investment of $93.2 million.
In May 1999, four firms joined with management to acquire Savi from Raytheon Corporation. Vector Capital, a San Francisco firm with more than $200 million under management, led the round. Other venture firms that joined Vector Capital included Venture TDF, Finlayson Investments Ptd., Ltd. (a subsidiary of Temasek Capital), and Intermec Technologies Corporation.
In March 2000, Savi received $35.7 million in Series B financing led by Accel Partners. Accel, with more than $1.4 billion under management, focuses its investments on Internet and communications businesses, and has a long legacy of helping entrepreneurs build world-class Internet companies. Additional venture capital firms and corporate investors in the second round included Oracle Venture Fund, TIBCO Software Inc., Temasek Capital, Vector Capital, Mohr, Davidow Ventures, Dorset Capital, and Venture TDF.
Then in May 2000, another $11.77 million was raised in additional Series B financing from new investors such as United Parcel Service, Inc., through its UPS Strategic Enterprise Fund, and Net Market Partners, an e-commerce business accelerator. Dorset Capital, Temasek Capital, and Oracle Corporation, through its Oracle Venture Fund, increased previous funding commitments. Additionally, two advisers to the firm, Geoffrey Moore, best-selling author, venture partner at Mohr, Davidow Ventures, and managing director of The Chasm Group, and Larry Sur, founder and former president of Schneider Logistics, participated in the round along with other individual investors.
In May 2001, Savi received $20 million in Series C financing led by k1 Ventures Limited, one of the largest venture capital funds in Asia. In addition to k1 Ventures, the investment arm of the Singapore Infocomm Development Authority (IDA) also participated as a new investor in the round. Six organizations that had previously invested in Savi Technology also participated: Accel Partners; Mohr, Davidow Ventures; Temasek Capital; United Parcel Service (NYSE: UPS), through its UPS Strategic Enterprise Fund; Vector Capital; and Venture TDF. Series C was extended in May, 2002 to include an investment by SembCorp and SembCorp Logistics of $15 million. |
