The Praetorian Group Raises $2.5 Million In First-Round
Industry Standard iB2B Conference — Boca Raton, Fla., March 23, 2000 – The Praetorian Group, Inc., the net market maker for the $70 billion global business-to-business market for public safety equipment, products and services, today announced that it has closed a $2.5 million investment led by the Kensington Value Fund, the investment vehicle for the Schwab family. This investment is part of Kensington’s ongoing strategy to target business-to-business e-commerce. Other participants include Podesta Public Safety Investors, LLC and Robert A. Ellis Revocable Trust, LLC.
The Praetorian Group is the first company to address the need within the highly fragmented public safety sector for an end-to-end e-commerce solution that streamlines and simplifies procurement. Praetorian’s approach creates value on both the buy and supply side as well as for the individuals within public safety verticals such as law enforcement, fire, emergency services and corrections. Praetorian’s first vertical site is PoliceOne.com, the one complete resource for content, community and commerce for the law enforcement community.
“The Praetorian Group is ideally positioned to target business-to-business e-commerce within public safety as they have first mover advantage, a management team loaded with domain expertise and a lock on industry partnerships,” said Charles Schwab, Jr. “We believe they will clearly come out as the most powerful business-to-business force in public safety, revolutionalizing this sector.” Charles Schwab, Jr. will be joining the Praetorian Group board of directors.
Proceeds from this first round of financing will be used to fund Praetorian’s e-commerce technology and infrastructure, sales and marketing efforts, acquisitions within its vertical industry segments, ongoing operations and additional hires.
“We have gained a great deal of momentum within the public safety sector and are pleased to have leading investors on board with the Praetorian Group,” said Gregory Horowitt, president and chief operating officer of The Praetorian Group. “We’re changing the way that public safety has traditionally bought and sold products by offering a highly cost-effective and time-efficient e-commerce solution.”
Praetorian’s management team has more than 95 years of combined experience in public safety industries on both the buy and sell side. The Praetorian Group is led by President Greg Horowitt. Horowitt is former vice president of regional sales for Fechheimer Uniforms, a Berkshire Hathaway company.
About Praetorian Group, Inc.: The Praetorian Group is the net market maker for the highly fragmented public safety sector. Its virtual, vertical marketplaces bring together individual professionals, decision makers, purchasing agents and suppliers in an information-rich environment, creating tremendous value on both the customer and manufacturer side and efficient solutions for the purchase and distribution of goods and services. Praetorian’s e-commerce solution streamlines department purchasing, lowers operational costs, simplifies complex processes and rationalizes industry supply chains. Visit the site at http://www.praetoriangroup.com.