SensAble Technologies
15 Constitution Way
Woburn, MA 01801
T: 781-939-7495
F: 781-937-8325
media@sensable.com
Woburn, MA, July 21, 2000 - SensAble Technologies today announced the completion of a $23 million private placement to expand leadership position in providing touch-enabled computing solutions for the professional market. J. & W. Seligman & Co. led the 3rd round funding, which also included new investors IBM, Wanger Asset Management, HLM Management, MF Private Capital and others. Investors from previous rounds participated as well, including Advent International, Acer Capital and the Kaufmann Fund. Adams, Harkness & Hill, Inc. acted as placement agent for SensAble, which will use the capital to accelerate the sales, marketing, and development of its award-winning FreeForm™ touch-enabled modeling system.
"We are very excited about SensAble Technologies as an investment," stated Storm Boswick, Managing Director of J. & W. Seligman. "The opportunity for improving the man-machine interface is enormous and critically important to take computing to the next level. The new FreeForm system shows SensAble's market and technology leadership in bringing touch to the professional computing environment."
"We believe touch-enabled computing could have a transformational effect on the existing information technology infrastructure," said Richard Birney, IBM Vice President of Venture Investments. "IBM is very selective in making direct investments in emerging technology companies, but SensAble¹s technology, management and vision made this a very logical deal."
SensAble's FreeForm modeling system allows designers and sculptors to create 3D models using their sense of touch. The FreeForm system blends the intuitiveness and expressiveness of physical modeling with the power and productivity of digital modeling. Since its launch in August 1999, FreeForm modeling has quickly gained customer, analyst, and press acclaim as the most significant innovation to hit 3D modeling in years. Customers from industries as disparate as toys, footwear, furniture, digital content creation, and conceptual design are using the FreeForm system to tackle modeling challenges previously beyond the capabilities of computer software. The results are big improvements in productivity and time-to-market that come without sacrificing high aesthetic standards.
"We were extremely pleased with the financial market's validation of our strategy," commented SensAble president Bill Aulet. "The placement was substantially oversubscribed and we ultimately decided to raise more capital than we intended because of the high value-add of many of the investors. Adams, Harkness & Hill was instrumental in managing the fundraising, and we are very fortunate to have partnered with them."
About SensAble Technologies
SensAble Technologies is transforming the way people use computers in the 21st century. Our groundbreaking technology allows you to fully interact with your computer via your sense of touch. Two dimensions-sight and sound-become three, sight, sound and now touch. And that gives you the freedom to work in a more natural, intuitive way. SensAble and its products have won over a dozen awards and have been featured in publications worldwide, including The Wall Street Journal, Business Week and Fortune. FreeForm modeling, SensAble's first end-user application, was given the first ever Grand Innovation Award from Computer Graphics World. The company has more than 450 customers in 30 countries, including adidas-Salomon, Hasbro, Disney, Boeing, Shell, General Electric, NTT Communications, Motorola, Mayo Clinic and leading universities worldwide. For more information, visit www.sensable.com.
SensAble, PHANTOM, FreeForm, GHOST and 3D Touch are trademarks or registered trademarks of SensAble Technologies, Inc. All other companies and products referenced herein have trademarks or registered trademarks of their respective holders.
SensAble Technologies, Inc., 15 Constitution Way, Woburn, MA 01801.
Tel: 781-937-8315, Fax: 781-937-8325, Web: www.sensable.com, Email: info@sensable.com.
