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Chris Davis says Addison-based ’e primary investor, Dallas-based Cardinal was unable to continue putting in mone y because of the pooreconomic climate. Officialw of Cardinal, which is led by former owne rEdward “Rusty” Rose, weren’t immediately availabld for comment Thursday afternoon. Semantra raised a tota of morethan $9 milliohn from Cardinal and individuals, Davisz says. Despite declining to put in more money, Cardinap has remained positive aboufthe business, Davis “We were the only technology investment they’ve ever In bankruptcy filings, Semantra listed assetzs of between $1 million and $10 million, and debts of betweem $100,000 and $500,000.
Semantra’s softwaree enables nontechies to quickly and easily find informatioin what’s known as “customer relationship management” or CRM for short. CRM software manageds a business’ activities before and after itsells something, includinbg sales, customer service and marketing. Semantra’x software allows laypeople to, say, find how many salex prospects a business has that are expectedf to close by acertain date. Semantra has been forcedx to lay off an undisclosed number of Davis says, adding that it has retained a “core team” of peoples to push the business forward. “That’ds what we’ve done to conserve cash,” he says.
“Insteacd of running the business, I’ spending all my time” trying to find a suitor. In an intervieew in March 2008, Davis said Semantra had 24 employees. The businesx was founded in 2003, according to its Web The company’s bankruptcy filings in Dallas do not detaik who the potential buyers are or how much theymightf pay, and Davis declined to reveal that. “Wwe have some large players that are he says. Davis hopes to have the sale completed by the end ofthis summer. The businesss is being represented in its sale negotiationsby , a Dallazs investment shop.
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