January 29, 2004

Modulant Names Bill Baloglu President And Daniel Christie CFO

Staff  /  Dow Jones-Venture Wire

Modulant Solutions Inc., a developer of enterprise information interoperability platforms, named Bill Baloglu president and Daniel Christie chief financial officer. Both positions are new.

In his role as president, Baloglu, 47, will be responsible for Modulant's Contextia enterprise software division. Modulant also has a government services division. Most recently, Baloglu was founder and chief executive of ObjectFocus, an enterprise software consulting and staffing firm. For data management software vendor Versant Corp., Baloglu held responsibilities in the company's marketing, professional services and international sales operations. Baloglu was also co-founder and chief operating officer of OpenObjects, a software productivity tools vendor.

Christie, 51, most recently served as the North American controller for the printed circuit board division of Sanmina-SCI Corp., an electronics manufacturing services provider. Christie also was the CFO for supply-chain vendor HomePoint Corp., computerized maintenance management software developer Datastream Systems Inc. and KnowledgeSentry Inc.

Founded in 1989, Modulant's Contextia platform allows companies to aggregate, validate and visualize knowledge about data for the purpose of making the data more seamlessly reusable both internally and externally. Contextia's software addresses the enterprise problem of dispersal of data knowledge. For example, in an acquisition, information from the acquired company can be assimilated into the acquiring company with Modulant's software, said new CFO Christie.

Modulant's first product, the Contexia Mediation Engine, released in 2002, created links between pieces of information. The new Contexia software, to be launched in the fourth quarter of 2004, also adds application features such as security, approvals, and constraint layers. Modulant has received about $24 million in funding to date, said Christie.

In July, the company closed a $3 million Series C round, funded solely by returning investor Sandler Capital Management. The money is being used for revenue growth, sales and marketing and market penetration in its enterprise division. Its government division is already profitable.

In April 2002, the company's second round closed with $4 million and in 2001, its first round yielded $15.5 million. The company has also been funded by First Lexington Capital and Guardian Partners. The company is currently at break-even, said Christie.