Twofish Expands Team and Technology to Meet Growing Need to Monetize the Social Web

PALO ALTO, Calif.--(BUSINESS WIRE)--Twofish, Inc. announced today that it has secured a second round of funding to build out its exclusive Digital Resource Planning (DRP) solution, Twofish Elements™. Elements is an economic infrastructure that unifies banking, inventory and commerce systems of online entertainment companies, allowing them to increase profits, better engage customers, and reduce fraud.

“Monetizing the social web doesn’t have to be so difficult”

“Monetizing the social web doesn’t have to be so difficult,” said Lee Crawford, founder and CEO of Twofish. “The challenges in managing a retail or economic infrastructure are the same online as they are off. Offline companies use ERP solutions to provide an integrated view of complex business operations, and now, online companies can use the first-ever DRP solution, Twofish Elements, in exactly the same way.”

In the world of 24/7 digital commerce, businesses simply cannot thrive without the ability to respond and react to changes in real-time. The new investment from Triplepoint Capital, Rustic Canyon, and Venrock underscores Twofish’s relevance as the web increasingly moves towards more direct monetization models.

Twofish also announced two key hires that extend the company’s expertise in social networking and enterprise software.

Bill Grosso has joined the company as chief technology officer and vice president of engineering. Previously, he was CTO and vice president of engineering at Engage.com and vice president of engineering at Echopass. Grosso is a noted speaker and author of several O’Reilly books, and serves on the Board of SDForum.

“Bill brings a mix of technical depth and internet business acumen to the Twofish team,” Crawford said. “His time spent in social media and telco transaction processing are highly relevant to Twofish and our partners, and we are thrilled that he has chosen to join us.”

Itamar Kandel, previously of Symantec and Veritas, has joined as senior director of product marketing and sales. Kandel brings a deep understanding of enterprise software integrations to the Twofish team and its partners.

About Twofish, Inc.

Twofish offers economic infrastructure for social and interactive online businesses, spanning gaming, virtual worlds, social media, and retail toys. The company’s flagship product, Twofish Elements, is the industry’s first Digital Resource Planning (DRP) solution, simplifying the management and optimization of virtual banking, commerce, and inventory functions with one integrated platform. Founded by Lee Crawford, Twofish is funded by TriplePoint Capital, Rustic Canyon and Venrock Capital. For more information, visit www.twofish.com.

Twofish and Twofish Elements are trademarks of Twofish, Inc.