News ReleaseCentennial Ventures Invests in Siterra to Transform Real Estate Site ManagementCentennial leads Siterra B round funding; Jeffrey Schutz joins Board of Directors NOVATO, Calif. — December 11, 2004 — Siterra Corporation, the leading provider of software solutions for geographically dispersed real estate assets, today announced that Centennial Ventures, a venture capital firm with in-depth expertise in networking and telecommunications industries, has made an investment in Siterra, leading the company's B round financing. Jeffrey Schutz, a Centennial managing director, has been named to Siterra's Board of Directors. Catamount Ventures, a previous investor, has also joined this round to fuel Siterra's expansion into new markets. "Centennial is committed to its investments in the telecommunication industry, including the technology companies that drive productivity improvements, thereby elevating the value of the entire industry. Siterra enables companies to transform the way they manage their real estate assets, such as cell towers and retail stores, making them more profitable and more competitive," said Jeffrey Schutz, a managing director at Centennial Ventures and director of Siterra Corporation. "Centennial will provide Siterra with the contacts, funding, and strategic insights necessary to maintain market leadership in the wireless industry and expand into additional markets over the long term." Centennial Ventures, located in Denver, Colorado, has invested over $1 billion in 170 companies since 1982. The firm focuses on early and later stage networking, telecommunications and related companies that have strong market leadership potential. Its current portfolio includes Cencom Cable, Crown Castle, and Verio. The Siterra Site Management System is already considered the de facto standard among major wireless carriers for driving cell tower productivity and ROI, which makes Siterra a logical addition to Centennial's portfolio. As a Siterra director, Jeffrey Schutz will assume an active role in strategic planning, business development, and corporate advisement. Mr. Schutz, who has more than 21 years of venture capital experience, joined Centennial Ventures in 1987. Prior to joining Centennial, Mr. Schutz was Vice President and Director of PNC Venture Capital Group, an affiliate of PNC Financial. Before that Mr. Schutz was Advisory Director to the Small Business Administration. "Centennial immediately understood the strategic value of real estate asset management, given its broad portfolio of networking, telecom, and cell tower management companies," said Paul Remer, president and CEO of Siterra Corporation. "Centennial will be an asset to our long-term growth and expansion as we move forward." Catamount Ventures, a previous investor, has also joined this round to fuel Siterra's expansion into new markets. Previous to this investment round, Catamount Ventures, a venture capital firm that specializes in early stage financing, was the sole professional investor in Siterra. Catamount Ventures has reaffirmed its commitment to Siterra with its latest investment. Catamount, which first provided funding to Siterra in 2002, invests in world-class information technology companies that change the way people work, communicate and live. About SiterraSiterra Corporation is the leading provider of Web-based, collaborative software solutions for the lifecycle management of property and operating assets in the wireless, retail, corporate real estate and energy markets. Founded in 2001 and backed by leading technology investment firms, Siterra uniquely enables organizations with geographically dispersed assets to accelerate the development and construction of new sites and properties and streamline their leasing, ongoing operation and maintenance activities, significantly increasing their return on investment. Siterra's solutions are used in connection with more than 300,000 properties and assets worldwide for companies of every size. For more information, please visit www.siterra.com. About Centennial VenturesCentennial Ventures is an innovative venture capital firm that invests in the rapidly changing world of communications. For over 20 years the firm has partnered with extrordinary entrepreneurs to build successful network enterprises and related enabling technology and software companies. In addition to investing more than $1 billion in 170 businesses since 1986, the firm has helped many of its portfolio companies grow into market leaders by offering unique resources in four critical areas: people, plans, money, and partners. For more information, please visit http://www.centennial.com. Contacts:Molly Hemmeter |
