Morgan Stanley Venture Partners Invests in Perceptive Software, Inc.
Released on = December 29, 2004, 1:44 pm
Press Release Author = Perceptive Software
Industry = Software
Press Release Summary = Additional Capital Supports Rapid Growth of Document Imaging
Press Release Body = SHAWNEE, KANSAS — Perceptive Software, Inc., announced that
Morgan Stanley Venture Partners has taken an equity position in the company. Morgan
Stanley Venture Partners is Perceptive Software's first institutional investor. The
funds will be used to support Perceptive Software's rapid growth by accelerating
research and development and enhancing marketing and sales activities across various
industry verticals and geographies.
"Perceptive Software represents an opportunity for Morgan Stanley Venture Partners
to partner with a proven management team that has demonstrated a track record of
sustained growth and profitability," said Dr. William Harding, managing director of
Morgan Stanley Venture Partners. "We are excited to work with Perceptive Software to
help continue the business momentum and build upon a history of customer success."
Perceptive Software, Inc., creates innovative document imaging, management and
workflow software solutions for organizations in a broad range of industries
worldwide. Founded in 1988, the company's unique approach to product development and
services produces cost-effective solutions that leverage an organization's existing
technology investments. The company's patented technology assures rapid, flexible
and simple integration with departmental or enterprise-wide business processes.
ImageNow®, Perceptive Software's flagship product, offers instant, single-click
access to digitized versions of paper and other electronic objects from any existing
software application. The Web-based functionality of WebNow™ allows for secure,
remote access to imaged documents and easy information sharing.
"We are excited and honored to have Morgan Stanley Venture Partners as a financial
partner," said Scott Coons, president and CEO of Perceptive Software. "The network
of relationships and global financial reach of Morgan Stanley, coupled with our
strong revenue and earnings growth, will facilitate our new tactical and strategic
Perceptive Software, a privately held company, has posted a double-digit, pretax
profit in each fiscal year since 1998. Revenues for fiscal year 2004 grew in excess
of 60 percent driven by a total customer base now numbering over 800 organizations.
Marquee customers include commercial accounts such as Avis Europe, Credit Suisse
First Boston, Lawson Software and Cardinal Health, leading educational institutions
like University of Michigan and New York University, and public sector organizations
including the City of Los Angeles and City of Charlotte.
"Perceptive Software's applications offer a unique value proposition to customers
looking for imaging, management and workflow solutions that can scale from the
department level to enterprise-wide implementations," said Peter Chung, vice
president of Morgan Stanley Venture Partners. "In addition, Perceptive Software's
proven ability to deliver rapid ROI to customers across so many industries creates
enormous potential for growth worldwide. We're very excited to be part of the team."
About Morgan Stanley Venture Partners
Morgan Stanley Venture Partners is the venture capital affiliate of Morgan Stanley
(NYSE: MWD), a preeminent global financial services firm. Since its inception in
1985, Venture Partners has invested over $1.2 billion in more than 140 companies.
Venture Partners manages a group of funds that invest in high-growth companies
within the information technology and healthcare industries, primarily in the United
States. Venture Partners also sponsors and participates in growth buyouts, including
working with entrepreneurs to pursue industry consolidations. For more information,
About Perceptive Software
Founded in 1988, Perceptive Software, Inc., (formerly Perceptive Vision) develops
document imaging, management and workflow software solutions that simplify document
management processes by delivering secure, digitized versions of paper and other
electronic documents while leveraging existing applications. Customers in a broad
range of industries worldwide have taken advantage of ImageNow, Perceptive
Software's flagship software offering.
ImageNow is a registered trademark of Perceptive Software, Inc. Other product or
company names may be trademarks or registered trademarks of their respective owners.
To request product information, send an e-mail to firstname.lastname@example.org.
To find out about the ImageNow document imaging solution, you can also go to
Web Site = http://www.imagenow.com
Contact Details = Perceptive Software, Inc.
7734 Hedge Lane Terrace
Shawnee, KS 66227
Tel +1 800 941 7460
Fax +1 913 422 3820
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