Feb 26, 2015

February 03, 2004 08:02 AM Eastern Standard Time FAIRFAX, Va.--( BUSINESS WIRE )--Feb. 3, 2004--Rivermine Software, Inc., provider of telecom management software to network-centric organizations, has changed its name from Telco Exchange, Inc. and received $5,000,000 in equity financing to fund expansion. The investors are Valhalla Partners of McLean, VA and Columbia Capital of Alexandria, VA. Rivermine Software provides sophisticated telecommunications management software to ease the complexity of managing telecommunications networks. The software is used by multiple Fortune 500 companies and other multi-billion dollar businesses. Today, most large businesses have disparate systems and processes that address telecommunications management in a piece-meal fashion. Rivermine's software integrates many difficult tasks, such as network design, procurement, monitoring, optimization, auditing, and bill payment. It provides an intuitive and unified way to view, manage, control, and support nearly all aspects of telecommunications management. Rivermine's software uses the most current enabling technologies, including Java and Oracle's industry-leading database. Key to the success of Rivermine's technology has been close relationships with major carriers, including AT&T, Verizon, BellSouth, SBC, Qwest, and others. These relationships have allowed Rivermine to be one of the only companies in the world to offer customers seamless electronic integration between the customer and the carriers. This round of financing will be used to fund business growth as demand for the company's solutions accelerate. This demand is being driven by large organizations investing in next generation management systems. The company will also continue to develop its relationships with leading vendors, including AT&T and BearingPoint. "This is a great moment for our company" according to CEO Bryant Dunetz, "with a proven product, marquee customers, and the addition of venture capital partners, we are poised to respond to the growing demand for our software. " Gene Riechers, General Partner of Valhalla Partners, said, "We are excited about joining with a great team and being part of the ongoing success of Rivermine Software. We see the company as the leader in the new and growing category of Enterprise Telecommunications Management (ETM). " Karl Khoury, Partner at Columbia Capital, added, "After talking to the company's customers, we knew that Rivermine provided substantial and measurable value to large enterprises. These organizations have real challenges in managing their telecommunications networks. Rivermine can dramatically improve the operational and financial effectiveness of these organizations and their network infrastructures. " About Rivermine Software Rivermine Software provides telecommunications management software to network-centric organizations. Solutions include order management, inventory management, and financial management, all as enterprise software that integrates with other corporate applications. The company sells its products directly to customers and through partnerships with select carriers and integration companies. Customers include IKON Office Solutions, Marriott International, Agere Systems, NEC Business Network Solutions, and Starbucks Coffee Company. More information can be found at www.rivermine.com . About Valhalla Partners Valhalla Partners is a leading venture capital firm focused on working closely with entrepreneurs to build enduring technology companies. Valhalla assists entrepreneurs by offering both seasoned advice and best practices which have been developed over the last twenty years. During that time, the Valhalla team has invested in or served as senior executives in over 100 entrepreneurial companies. For more information, visit www.valhallapartners.com . About Columbia Capital Columbia Capital is a premier private equity firm focused exclusively on the communications and information technology industries, investing in both emerging service providers and innovative, next generation technologies. Columbia Capital has invested in more than 60 communications and technology companies since 1989 and currently manages approximately $1.4 billion. Additional information about Columbia Capital can be found at www.colcap.com . Contacts