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Corio  (Stock symbol: CRIO ) Acquired by IBM (2005 $ 182,000,000)

959 Skyway Road #100
San Carlos, CA 94070
Website Company Summary Management Team

Outside board: (May no longer be on the board) Aneel Bhusri (Greylock Partners) Randall P Baker (Modernsoft);  Mark Forman (Cassatt);  Mark Hauser (Cap Gemini Ernst & Young);  Glenn Marschel (NetNumber CEO);  Ted Schlein (Kleiner Perkins) George Still (Norwest Venture Partners)
Advisory board: Ernest Von Simson (Cassius)

Business description: Corio®, a leading enterprise application service provider, delivers best-of-breed enterprise applications over a secure global network for a fixed monthly fee. Corio's experts deploy and manage Applications on Demand from leading software vendors such as PeopleSoft, Oracle, SAP, Siebel Systems, and Ariba. Through three delivery models - Corio Full Service, Corio OnSite, Corio Transition, and Corio Infrastructure - Corio brings increased speed, reliability, visibility, control, and economics to enterprise application management. Corio Applications on Demand is a flexible, pay-as-you-go, utility-like service to deliver enterprise applications. Organizations gain the efficiency of a scalable delivery architecture and variable cost structure for IT services while maintaining the predictability of a fixed price contract. Customers are able to defer upfront procurement of expensive infrastructure assets and reduce IT costs overall.
Customers include: eMeterExcite@HomeGoldman SachsHarvard UniversityHitachi, Ltd.IPWirelessKeycorpMacromediaNBCNetRatingsPlumtree SoftwareTheraSenseVisa;  Birkenstock;  Carlson Companies;  Club Car;  CSAA;  Extreme;  Gallaudet University;  Hiyts Cinemas;  Homestead Studio Suites;  Hyatt International;  Ingersoll Rand;  Merisant;  National Gypsum;  Norwood Promotional Products;  Quadrem;  SES AMERICOM;  SMandP Utility Resources;  Terra Lycos;  THOR-LO;  Twin Towers Fund;  TXU;  U.S. Coast Guard;  US Unwired

Rounds: 3
Recent Fundings: May 1999
Capital raised: 101.0M
Last Round: 21.0M
Ownership: Acquired by IBM (2005 $ 182,000,000)
Stock Symbol: CRIO

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Record updated: Mar 2005
Sector: Software
Year Founded: 1998
Headcount: 401-500 as of May 2002
Rounds: 3
Recent Fundings: May 1999
Capital Raised: 101.0M
Last Round: 21.0M
Ownership: Acquired by IBM (2005 $ 182,000,000)
Stock Symbol: CRIO