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September 22, 1998

CROSSROUTE BECOMES EXTRICITY, WINS STRATEGIC INVESTORS

By CBR Staff Writer

CrossRoute Software Inc, one of an emerging new brand of enterprise integration technology companies, has changed its name to Extricity Software Inc, and won a third round of funding. The Redwood Shores, California-based company says that the new funding round includes its first strategic investors. They include Intel Corp, the Baan Brothers investment arm Vanenburg Ventures BV, the Cambridge Technology Capital Fund managed by systems integration firm Cambridge Technology Partners Inc, and an unnamed leading global ERP software company reported to be SAP AG. The $10m investment round, which brings the company’s total funding up to $18.5m, was led by RRE Investors. Extricity’s product, Alliance, is a business-to-business integration tool that connects together applications from the likes of Oracle Corp, Peoplesoft Inc and SAP AG. Founded in 1996, Extricity now employs 60 people and began shipping its first products last December. It says that in-house electronic data interchange efforts are its main competition, but other firms with similar products include Santa Clara, California based Active Software Inc, Monrovia, California-based Software Technologies Corp and near-neighbor – and once similarly named – CrossWorlds Software Inc.

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