ESS Secures $8 Million in Capital Investment
Investors point to ESS' industry leading Operational Risk Management vision for Environmental, Health & Safety and Crisis Management
TEMPE, Ariz. - April 7, 2006 ― ESS has secured an $8 million investment to support growth of the company's industry leading Operational Risk Management software and services for Environmental, Health & Safety (EH&S) and Crisis Management, Robert Johnson, CEO of ESS, announced today.
The new round of investment is led by Grayhawk Venture Partners and DCA Capital Partners, LP, with additional participation from existing investors. In making the investments, the companies pointed to ESS' leading position in EH&S and Crisis Management.
"We are very excited about ESS and its opportunities in the compliance software space," said Sherman Chu, managing member of Grayhawk Venture Partners. "We have known ESS for a long time and it represents a great addition to the Grayhawk portfolio. We look forward to building on that relationship and to play a role in the future growth of the company."
The company's Essential Suite and Compliance Suite software and services helps users comply with international, federal, state and local regulations, and industry standards. The suites transform EH&S and Crisis Management data into the information needed to develop performance metrics that assure compliance, drive operational excellence and enhance stakeholder value.
"We think the compliance and Operational Risk Management concept is of critical and increasing importance to corporate buyers in today's highly regulated environment," said Jeremy Wolfe, partner of DCA Capital Partners. "ESS has built a leading position in an important category within the broader enterprise software universe, and they have an experienced management team that can successfully take the company to its next level of growth."
Johnson said the investment will be used to accelerate the company's plans for resource and infrastructure expansion and growth in 2006 and beyond.
"These investments speak volumes about our solid business model and the direction of ESS," Johnson said. "We are grateful to Grayhawk and DCA for their confidence in our ability to continually meet our targets and exceed our goals."
About ESS
ESS is the leading provider of Operational Risk Management software and services for Environmental, Health and Safety (EH&S) and Crisis Management. The company has provided Essential Suite® and Compliance Suite® solutions to more than 17,000 businesses, government agencies and other organizations worldwide.
About Grayhawk Venture Partners
Grayhawk Venture Partners is a Phoenix-based venture firm that invests in companies with strong business momentum operating in growth industries and led by operations-oriented executives. For information, visit www.gvp.us/grayhawk.shtml.
About DCA Capital Partners, LP
About DCA Capital Partners, LP, of Sacramento, Calif., is a private equity fund formed with the purpose of providing expansion capital to growth–oriented, middle–market businesses in underserved markets across the broader Northern and Central California region, and the Pacific Southwest (Arizona and Nevada). For more information, visit www.douglascurtis.com/pefund.html.
