âWarburg Pincusâ increased investment in Kiodex shows it continues to believe in and fully support our plan to become the leading global provider of Web-based risk management solutions,â said Kiodex CEO, R. Martin Chavez. âWarburg Pincusâ support allows Kiodex to continue its expansion into the market with an outstanding risk management solution that is currently used by some of the largest Fortune 500 corporations seeking to manage their energy price risk.â
Kiodex plans to use the investment for expansion of the company as well as development of additional enhancements to the companyâs flagship software application, the Kiodex Risk WorkbenchSM. The investment marks the second institutional round of financing for Kiodex â Warburg Pincus has been the sole institutional investor in the company since its initial round of funding last year.
âA wide range of issues relating to risk management and transparent accounting practices are increasingly being placed under intense scrutiny,â said Stewart Gross, Senior Managing Director of Warburg Pincus and a member of the Kiodex Board of Directors. âEvery company needs to know what its energy exposure is at any time on a mark-to-market basis. This increased focus makes the services that Kiodex provides even more valuable to todayâs corporate marketplace.â