FACTORY LOGIC EXPANDS BOARD OF DIRECTORS APPOINTING EXECUTIVE FROM SIEMENS VENTURE CAPITAL
Siemens Venture Capital Leads Latest Funding Round
AUSTIN, Texas, September 16, 2005 - Factory Logic, the leading provider of Lean solutions that meet the needs of the Customer Demand-Driven Factory, today announced the appointment of a new member to the Factory Logic board of directors. Joining the board is Todd Jaquez-Fissori, Investment Partner at Siemens Venture Capital (SVC). This expansion brings the board to four members and positions Factory Logic for its next stage of growth.
In addition, Factory Logic announced that Siemens Venture Capital led its recent $8 million funding series, which also included SAP Ventures and Adams Capital Management, a previous investor.
"We are honored to have Todd join our board," said Allan Wilson, CEO of Factory Logic. "Todd's expertise across a range of technologies, business operations, and the automotive sector will be important as we take the company to the next level. His experience is an exceptional complement to our management team."
Factory Logic's platform-independent, real-time demand leveling and supply synchronization engine provides a level of configurability and usability necessary to automate, accelerate and sustain large-scale, enterprise Lean process deployments. Specifically, Factory Logic's Lean Operations Suite provides real-time planning and scheduling at the plant floor level, scheduling pacemaker operations and controlling pull signals for the rest of the factory and suppliers. With Factory Logic, manufacturers respond in real-time to changes in demand, production, and inventory levels and ensure that all production and supply resources remain synchronized with their customers' demand.
"Factory Logic's solutions in Lean production are delivering manufacturing customers with new levels of production efficiencies and customer responsiveness. As more and more global manufacturers begin to adopt Lean manufacturing, Factory Logic's solutions will continue to set the standard. I look forward to collaborating with Factory Logic's management team and helping them build a world-class company," stated Todd Jaquez-Fissori of Siemens Venture Capital.
Based in Siemens Venture Capital's Silicon Valley office, Todd Jaquez-Fissori works extensively with early and mid-stage companies that are building solutions in information technology, automation, automotive, and power related technologies. He also serves on the board of Newmerix, Kiyon, and Centerboard and as an observer to Netcontinuum and Zonare.
Prior to joining SVC, Jaquez-Fissori was with Boulder Ventures in San Francisco, focusing on early stage software deals, where he was a board member of TeraCloud and observed on the boards of Bitblitz, Finali, Critical Arc, and Xifin. Jaquez-Fissori brings over 12 years of venture, entrepreneurial, and consulting experience, having also worked with eCOM Partners, a Connecticut-based seed/early stage technology venture fund and Mayfield Fund in Menlo Park , CA . He holds a Master's Degree in Business Administration from The Wharton School at the University of Pennsylvania and received a Bachelor of Science degree in Business from Penn State University.
About Factory Logic
Factory Logic is the leading provider of Lean solutions to meet the needs of the Customer Demand-Driven Factory. With Factory Logic, manufacturers are able to automate the pace of production, accelerate Lean deployments and associated benefits, and sustain continuous improvement and standardized best business practices across the entire enterprise. Factory Logic's platform-independent, real-time demand leveling and supply synchronization engine allows companies to extend their investments in ERP/MRP to the plant floor and transform the extended enterprise into a real-time demand driven supply network. Factory Logic is based in Austin, Texas. For more information, please visit Factory Logic at www.FactoryLogic.com .
About Siemens Venture Capital
Siemens Venture Capital (SVC) is the $600 million corporate venture organization for Siemens AG, (NYSE:SI) one of the largest global electronics and engineering companies with reported worldwide sales of $91.5 billion in fiscal 2004. The goal of SVC is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in Information and Communications, Automation and Control, Medical Solutions, Automotive Technology and Transportation Systems, Power, and Lighting.
With offices in Munich, San Jose (CA), Boston (MA) and through Siemens Israel, Ltd. in Herzliya near Tel Aviv, SVC has invested in more than 100 start-up companies and 30 venture capital funds, and plays a key role in the global network of innovation.
VC is part of a greater network at Siemens whose mission is to drive technological innovation by supporting start-up companies. In addition to Siemens Venture Capital, also Siemens Acceleration in Communications, Siemens Technology Accelerator, and Siemens Technology-To-Business Center contribute to the innovation strategy of Siemens. Their individual mandates are defined according to financing stages and industry focus.
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