FOR IMMEDIATE RELEASE
AfterBOT Ranked in the Top 100 Venture Capital Backed Companies for 2002
Atlanta, GA - November 14, 2002 - AfterBOT, Inc., the leading provider of digital receipt technology enabling post-sales, customer focused marketing and business solutions, was selected as one of the top 100 venture capital backed companies for 2002 by Venture Reporter in their October, 2002, issue. Venture Reporter is the largest and most comprehensive database of non-public companies in the world.
To be a contender for this Venture Reporter ranking, companies were first required to have closed either a seed or Series A round over the past 16 months. Venture Reporter's editorial team evaluated each company on factors such as the sustainability of the company's business plan, quality of leadership, intellectual property, and the general health of their industry.
"AfterBOT's successful implementation of its digital receipt technology at Smart and Final (a west-coast, warehouse grocery store chain) solidified its solution as a key driver of improving customer service while reducing internal costs," said Mark Johnson, AfterBOT Chairman.
AfterBOT continues to build on its management foundation with the recent addition of two seasoned retail industry veterans. John Simon, former QRS CEO and co-founder, was named CEO in September, and Kurt Unglaub, former Vice President of Sales for Mercari, joined AfterBOT as the VP of Sales in early November. R. Stephen Schultz, now Vice Chairman, is focusing on AfterBOT's IP Portfolio and future funding requirements. AfterBOT's next round of funding is slated for 1Q 2003.
"We believe that AfterBOT is uniquely positioned for growth because it offers a proven technological solution focused on a specific industry where our management team is deeply experienced. We are excited about the positive impact our marketing and business solutions will have on the ability of our customers in the retail industry to drive revenue and improve margins," stated Koleman Karleski, Principal, Chrysalis Ventures.
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