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> Constellation Real Technologies Announces Equity Investment in Accruent
Constellation Real Technologies Announces Investment in Accruent
Denver, CO - (November 20, 2002) - Constellation Real Technologies, LLC and Accruent are pleased to announce that Constellation has recently made a Series C Preferred Stock investment in Accruent. The $10 million funding round was led by Sierra Ventures. Other participants were new investors Peninsula Equity Partners and Stanford University, as well as continued support from existing investors Innocal Venture Capital, Red Rock Ventures, and Pequot Venture Partners.
Founded in 1995 and headquartered in Santa Monica, California, Accruent is the leading provider of enterprise
contract management solutions that enable organizations to improve business performance through better cost
and revenue management while reducing corporate risks associated with contracts. Accruent enables improved
decision-making and obligation management of complex business contracts and financial relationships.
Accruent’s contract management solution provides tangible business benefits to companies, including improved
visibility, lower costs, reduced risk and exposure, and streamlined contract creation. Accruent’s clientele
includes over 125 enterprise companies including Wells Fargo Fluor Corporation, Lehman Brothers, Rite Aid,
Hertz, Lockheed Martin, Raytheon, Sempra Energy, and Viacom. For more information call (310) 526-5700 or visit
http://www.accruent.com
Constellation Real Technologies, LLC is a real estate technology consortium and venture capital fund.
Constellation’s goals are to share technology knowledge and best practices among its Members; discern
best-of-breed technologies and enterprises in numerous strategic sectors; invest capital in best-of-breed
companies where appropriate; sponsor and incubate real estate-related technology enterprises; and act
as an opportunistic consolidator. Constellation is comprised of fourteen Members including the three
largest public real estate companies by market capitalization. Constellation’s members own approximately
$70B of real estate of all major property types. For additional information about Constellation
please visit http://www.constellationllc.com.
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