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?=09VentureWire =09Thursday, May 17, 2001=09=09? ?=09CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND=09VentureW= ire Index =09=09'VentureWire =09=09today: 712.9 ? +1.26%=09? ? =09=09 =09=09 =09=09top stories =09=09 =09=09 =01=07 Mobile Internet Firm Tahoe Launches with $38M First Round =09=09 =01=07 Accelerator Startups.com Changes Model & Name, Cuts 30% =09=09 =01=07 Hermes Set to Invest $965M for BTPS in Companies and Funds =09=09 =01=07 OffRoad Capital Splits into Two Divisions, Lays Off 50% =20 =09=09 =09=09UPCOMING EVENTS =09=09Enterprise Outlook 2001 =09=0990 private enterprise companies already comfirmed to present their bu= siness=20 plans Register for Enterprise Outlook to learn more! =09=09 =09=09TODAY'S FEATURES =09=09Flatiron Denies Rumours of Demise =09=09By Taran Provost =09=09Flatiron Partners is not being dismantled and will continue to aggres= sively=20 seek out new investment opportunities, a partner at the firm told=20 VentureWire. more<< =09=09 =09=09 =09=09The Industry Standard =09=09THE INDUSTRY STANDARD provides a critical and irreverent =09=09look at how information and technology are changing the =09=09rules of business. Get the business intelligence you need =09=09to stay ahead of the competition. =09=09TRY THE INDUSTRY STANDARD -- RISK FREE. Get 4 FREE issues =09=09and find out why THE INDUSTRY STANDARD is the news magazine =09=09you can't lead without. Take advantage of this special =09=09offer at:http://secure.thestandard.com/subscribe/7JAT =09=09 =09=09 =09=09 =09=09Kodiak Venture Partners Looking At Data Deals =09=09By Suzanne Segers Travers =09=09Kodiak Venture Partners of Concord, Mass. more<< =09=09 =09=09iBase Wants to Broaden Its Base To US =09=09By Jonathan Shieber =09=09London-based digital asset management firm iBase is looking to expand= its US=20 operations, according to Brendan Flattery, the company's chief executive=20 officer. The company, which raised GBP 4.2 million ($6 million) in a Series= B=20 funding last week, has established an office in New York and has hired=20 Parthenon Group, a market analysis firm with offices in Boston, London, and= =20 San Francisco, to help determine where iBase will concentrate its initial= =20 efforts to penetrate the American market. more<< =09=09 =09=09DataSynapse To Close $15 Series B =09=09By Michelle Tsai =09=09DataSynapse, a peer-to-peer software platform for distributed computi= ng in=20 the financial services and energy industries, expects to close $15 million = in=20 Series B funding within two weeks, said CEO Peter Lee. more<< =09=09 =09=09 =09=09 =09=09 =09=09new money =09=09 =09=09 =01=07 InterWest Makes Series A Investment in Pharma Company Algorx =09=09 =01=07 Alphamosaic Spins Out from Arthur D. Little with $9 Million =09=09 =01=07 Fiber-Optics Components Firm Comlase Gets $3.5M Series A =09=09 =01=07 Mobile Apps Firm Xora Secures $7M Round One =09=09 =01=07 E.Intelligence Caps $8M Round Two Led by Commonwealth =09=09 =01=07 Foundstone Closes Series B at $9 Million =09=09 =01=07 Customer Services Firm Yube Gets $2 Million in Series B=20 =09=09=01=07 eVentures Group Takes Minority Stake in White Amber =09=09 =01=07 Beyond Genomics Secures $5 Million Strategic Investment =09=09 =01=07 Korean Online Transaction Firm Cpocket Gets $1.1M =09=09 =01=07 Embark Gets $3 Million, Bringing Series F to $8 Million =09=09 =01=07 Orange to Become Third Co-owner in 3G Infrastructure =09=09 =09=09 =09=09bad news =09=09 =09=09 =01=07 Linux-based Software Developer Eazel Closes =09=09 =01=07 RoundArch Cuts 12% of North American Staff =09=09 =09=09 =09=09new products =09=09 =09=09 =01=07 Online and Analytical Consultancy Compete Announces Launch =09=09 =01=07 EdgeMatrix and MobileOne Form Wireless Intellect Labs =09=09 =01=07 Sightward Launches and Introduces First Product =09=09 =01=07 Terrace Mountain Changes Name to Impart Technology =09=09 =09=09 =09=09m&a =09=09 =09=09 =01=07 All Bases Covered Makes Second Acquistion in a Week =09=09 =01=07 Princeton eCom Buys Venture Finance Software from Intuit =09=09 =01=07 Net Printing Products Firm PrintCafe Buys Assets of Impresse =09=09 =01=07 Lost Boys, Incubation and Design Firm, Makes Acquisitions =09=09 =01=07 Pitman Acquires Online Printing Equipment Firm PrintNation =09=09 =01=07 Poster Firm Bignose Acquires Photo Finishing Site Eframes =09=09 =01=07 eKit.com Buys Call Sciences' International Calling Card Biz =09=09 =09=09 =09=09new directors =09=09 =09=09 =01=07 Clarity Names First Chairman=20 =09=09 =09=09 =09=09new people =09=09 =09=09 =01=07 SmartBargains Appoints Former Barnes&Noble.com Exec to CEO =09=09 =01=07 Creative Planet Promotes CFO to President =09=09 =01=07 CyLex Systems Appoints New President & CEO =09=09 =01=07 Net Security Firm Zone Labs Names First President and COO =09=09 =01=07 PrivateExpress Appoints New President & CEO =09=09 =01=07 EVLogix Officially Appoints Founder as President & CEO =09=09 =09=09 =09=09vc fund news =09=09 =09=09 =01=07 Israeli Telecom Firm Bezeq Teams Up to Start $50M VC Fund =09=09 =09=09 =09=09vc personnel =09=09 =09=09 =01=07 Encompass Ventures Adds New Associate to Team =09=09 =01=07 Atlas Venture Names Entrepreneur as Venture Partner =09=09 =09=09 =09=09vw corrections =09=09 =09=09 =01=07 MolecularWare =09=09 =09=09 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW= =20 DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS =09=09 =09=09 =09=09top =09=09 =09=09 =09=09Hot New Development - Mobile Outlook, June 5 & 6, =09=09San Francisco Airport Marriott =09=09 =09=09Exciting, new speakers have just been added to Mobile =09=09Outlook. George Davis, vice chairman and president of =09=09Aether Systems, will discuss how his company powers =09=09mobile and wireless data services for Charles Schwab, =09=09National Discount Brokers, Allegiance Health Care, the =09=09U.S. Postal Service, Office Depot, Nissan, and more. =09=09 =09=09With industry leaders and trendsetters such as George =09=09Davis planning to be in attendance at Mobile Outlook, =09=09why aren't you? Mobile Outlook is less than 3 weeks away, =09=09so register online today:http://www.mobile2001.net/register.asp =09=09 =09=09 =09=09 =09=09top stories =09=09? =09=09Mobile Internet Firm Tahoe Launches with $38M First Round =09=09 mail? top =09=09 =09=09 SAN JOSE, Calif. (VENTUREWIRE) -- Newly launched Tahoe Networks, a= =20 developer of networking infrastructure for mobile data networks, announced= =20 the completion of a $38 million first round led by Redpoint Ventures, with= =20 participation from Accel Partners. Geoff Yang of Redpoint and Jim Goetz of= =20 Accel are taking seats on Tahoe's six-member board of directors. Tahoe said= =20 the financing would be used for product development, sales, and to increase= =20 its staff of 50 to over 120 by the end of the year. The company said it=20 expects to launch commercially in the latter half of 2002. Mika Uusitalo, t= he=20 former CTO of Sonera, heads Tahoe Networks' European office in Tampere,=20 Finland. Tahoe Networks was founded in January 2001 by CEO Anthony Alles an= d=20 president and CTO Arthur Lin, formerly Cisco executives and the co-founders= =20 of Shasta Networks. Nortel Networks acquired Shasta Networks in April 1999= =20 for $340 million.=20 =09=09http://www.tahoenetworks.com =09=09 =09=09 =09=09Accelerator Startups.com Changes Model & Name, Cuts 30% =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- Startups.com, previously a company acceler= ator,=20 said it changed its business model to become a market intelligence firm,=20 changed its name to Startups, Inc., and laid off 11 of its 35 member staff = in=20 its latest round of layoffs. The company will still offer some of the same= =20 services to startup companies, but its primary clients will now be service= =20 providers to which the firm will offer online decision support tools, marke= t=20 insights, and help with facilitating relationships with startups. CEO Donna= =20 Jensen said the company will no longer go out and physically set up=20 companies. At the end of January, Startups said it was preparing to lay off= =20 some of its then 65-member staff. Ms. Jensen said the company cut those=20 employees involved with services it no longer offered and the company will= =20 hire more staff for its new products and services. She said Startups, which= =20 will most likely be back to having a 35-member staff by the end of the year= ,=20 has enough funding to last through the end ! of next year when the company= =20 expects to be profitable. Startups has raised $15 million over two rounds o= f=20 funding. Backers include Redleaf Venture Management, Garage.com, Constantin= =20 Partners, CrossFire Ventures, Roni Capital, Staenberg Venture Partners,=20 Venture Factory, and individuals. =20 =09=09http://www.startups.com =09=09 =09=09 =09=09Hermes Set to Invest $965M for BTPS in Companies and Funds =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Hermes Pensions Management, the manager of t= he=20 British Telecommunications Pension Scheme (BTPS) and other pension funds,= =20 said BTPS had allocated $965 million for investing in private companies and= =20 funds that invest in private companies. Hermes said it will invest up to $5= 0=20 million in the Botts Capital Partners 2 fund, a recently started fund manag= ed=20 by the London-based private investment bank Botts & Co. In addition, Hermes= =20 said it has committed $7.1 million for a 10.5% equity stake in Botts & Co.= =20 and has the option to invest an additional $7.1 million to gain up to 21%= =20 equity in Botts. Tony Watson is the chief investment officer for Hermes.=20 Hermes Pensions Management has $71.5 billion in assets under management.=20 =09=09http://www.hermes.co.uk =09=09 =09=09 =09=09OffRoad Capital Splits into Two Divisions, Lays Off 50% =20 =09=09mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- OffRoad Capital, an online private se= curities=20 and technology firm that helps raise funding for startups and venture funds= =20 using its online network, said it is reorganizing into two independent but= =20 related businesses: OffRoad Technologies and OffRoad Capital. Both business= es=20 will be subsidiaries of OffRoad, Inc., the new name for the parent holding= =20 company. The firm also said it will cut 50% of its staff, from 60 to 30=20 employees. OffRoad said the reorganization and reductions will lower its=20 capital requirements and give it flexibility for financing and growing the= =20 businesses independently of each other. OffRoad Technologies will focus on= =20 marketing its private finance technology platform and services. OffRoad=20 Capital, the company's investment banking business, will continue to operat= e=20 under the OffRoad Capital name and will be headed by its current leaders=20 Richard Bowman and Tripp Brower. John A. Forlines III and David B. Weir,=20 co-CEOs of OffRoad, have both resigned, but w! ill remain on the board of= =20 directors of OffRoad Inc. Stephen D. Pelletier, OffRoad's founder and=20 chairman, resumes the role of CEO of the holding company. The company made = 41=20 layoffs in February after a $6 million round of funding. OffRoad's backers= =20 include Mayfield Fund and ING Barings.=20 =09=09http://www.offroadcapital.com =09=09 =09=09 =09=09new money =09=09? =09=09InterWest Makes Series A Investment in Pharma Company Algorx =09=09 mail? top =09=09 =09=09 MENLO PARK, Calif. (VENTUREWIRE) -- InterWest Partners, a venture fi= rm in=20 Menlo Park, Calif., has told VentureWire that it has made an undisclosed=20 Series A investment in Wilton, Conn.-based Algorx Pharmaceuticals, a compan= y=20 developing prescription pain relief medications. Together with J.P. Morgan= =20 Partners and Sofinova Ventures, Algorx has raised a total of $1.5 million.= =20 Each firm has received a board seat as a result of its investment. The=20 company may land as much as $9 million in the round if it meets various=20 milestones, said InterWest senior associate Chris Ehrlich. Algorx was=20 developed in house at InterWest Partners. Algorx will use the Series A=20 funding for product development and other purposes. =20 =09=09http://www.algorx.com =20 =09=09 =09=09 =09=09Alphamosaic Spins Out from Arthur D. Little with $9 Million =09=09 mail? top =09=09 =09=09 CAMBRIDGE, U.K. (VENTUREWIRE) -- Alphamosaic, which designs fabless= =20 semiconductor chips for mobile video, announced spinning off from Arthur D.= =20 Little and securing $9 million in venture funding from Prelude Trust. Prelu= de=20 director Alan Duncan will become the fourth member of the board as a result= =20 of the funding. The company said it will use the funds for product=20 development. The company said it expects the funding to last until early=20 2002. Alphamosaic began developing technology at Arthur D. Little's=20 technology arm Cambridge Consultants last May.=20 =09=09http://www.alphamosaic.com =09=09 =09=09 =09=09Fiber-Optics Components Firm Comlase Gets $3.5M Series A =09=09 mail? top =09=09 =09=09 STOCKHOLM (VENTUREWIRE) -- Comlase, a Swedish developer of active co= mponents=20 for metropolitan fiber-optics networks, said it has received Series A=20 financing of $3.5 million from European Equity Partners and=20 InnovationsKapital. The company plans to dedicate the new funds to chip and= =20 module development. Comlase was founded in January 2001. =09=09http://www.comlase.com =09=09 =09=09 =09=09Mobile Apps Firm Xora Secures $7M Round One =09=09 mail? top =09=09 =09=09 MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- Xora, a provider of wireless = and=20 speech-enabling data applications, announced that it has secured $7 million= =20 in a first round of venture funding led by Wit SoundView Ventures, with=20 unnamed individuals participating. The company plans to use the new funds f= or=20 marketing and research and development. Post-money, the company is valued a= t=20 $18 million. As a result of this financing, Ned Carlson, senior vice=20 president of Wit SoundView Ventures, joined as the third member of the Xora= =20 board of directors, which still has two seats open. Xora plans to seek a=20 second round between $15 million and $20 million by the end of this year an= d=20 expects it to close in the first quarter of 2002.=20 =09=09http://www.xora.com =09=09 =09=09 =09=09E.Intelligence Caps $8M Round Two Led by Commonwealth =09=09 mail? top =09=09 =09=09 MINNEAPOLIS (VENTUREWIRE) -- e.Iintelligence, which provides softwar= e for=20 demand chain management, said it has closed an $8 million second round led = by=20 new investor Commonwealth Capital Ventures with participation from other ne= w=20 investors Brightstone Capital, Barnard & Co., and Discovery Ventures.=20 Existing investor JMI Equity Fund, which had held a majority of the company= =20 after round one, participated in this round but did not maintain its share.= =20 First round investor SPSS did not reinvest. Post-money, the company garnere= d=20 a valuation of about $20 million in this up round. Justin Perreault, genera= l=20 partner at Commonwealth Capital, and Arnold Silverman, principal of Discove= ry=20 Ventures, join the board, bringing the total number of directors to six.=20 Funds will be used for marketing and sales and are expected to last for at= =20 least a year. e.Intelligence expects to become cash flow positive in 2002. =09=09http://www.eintelligence-inc.com =09=09 =09=09 =09=09Foundstone Closes Series B at $9 Million =09=09 mail? top =09=09 =09=09 IRVINE, Calif. (VENTUREWIRE) -- Foundstone, which provides managed a= nd=20 professional security assessment services and education, said it closed its= =20 Series B at $9 million with funding from new investors Riordan, Lewis &=20 Haden, and Wilson; Sonsini, Goodrich, & Rosati; and return investor OVP=20 Venture Partners, which invested $2.7 million. The company said that the=20 money will be used for business development, sales and marketing, and=20 research and development. In March 2000, Foundstone announced it had launch= ed=20 and raised $3 million in first-round financing from OVP. =09=09http://www.foundstone.com =09=09 =09=09 =09=09Customer Services Firm Yube Gets $2 Million in Series B=20 =09=09mail? top =09=09 =09=09 SANTA CLARA, Calif. (VENTUREWIRE) -- Yube, a provider of Web-based s= oftware=20 for customer services, announced that it has raised $2 million from Labrado= r=20 Ventures in its first closing of a Series B round financing. Yube plans to= =20 use the new capital for sales and marketing expansion. The company expects = to=20 raise an additional $5 million before closing the round within the next few= =20 months. Larry Kubal, a managing director at Labrador, currently holds a sea= t=20 on the company's three-member board of directors, which also includes priva= te=20 investor Reza Mikaili. The company expects to make two appointments to its= =20 board once the Series B is completed. To date, Yube has raised $4 million i= n=20 venture capital, and has a valuation of $10.5 million.=20 =09=09http://www.yube.com =09=09 =09=09 =09=09eVentures Group Takes Minority Stake in White Amber =09=09 mail? top =09=09 =09=09 LAKE SUCCESS, N.Y. (VENTUREWIRE) -- White Amber, a provider of Web-e= nabled=20 staffing management services, said it has received an undisclosed amount of= =20 strategic financing from First Union's eVentures Group. The company plans t= o=20 dedicate the new funds to sales and marketing. In conjunction with the=20 minority stake, White Amber announced that First Union has decided to=20 implement its flagship staffing technology to manage its contract workforce= .=20 To date, White Amber has raised approximately $32 million in two rounds of= =20 financing. Previous venture investors include Infinity Capital Venture Fund= ,=20 Venrock Associates, and RRE Ventures. =09=09http://www.whiteamber.com =09=09 =09=09 =09=09Beyond Genomics Secures $5 Million Strategic Investment =09=09 mail? top =09=09 =09=09 CAMBRIDGE, Mass. (VENTUREWIRE) -- Beyond Genomics, which is developi= ng a=20 systems biology platform to provide new insights into molecular mechanisms = of=20 health and diseases, announced that it has secured a $5 million strategic= =20 equity investment from Elan Corp., a pharmaceutical company focused on=20 Alzheimer's disease therapeutics and diagnostics. The investment was made a= s=20 part of partnership between the two companies to jointly apply novel system= s=20 biology technologies in Alzheimer's disease research. Beyond Genomics was= =20 co-founded by NewcoGen, a unit of NewcoGen Group, and has received $5.5=20 million of Series A funding from NewcoFunds and OneLiberty Ventures.=20 =09=09http://www.beyondgenomics.com =09=09 =09=09 =09=09Korean Online Transaction Firm Cpocket Gets $1.1M =09=09 mail? top =09=09 =09=09 SEOUL, Korea (VENTUREWIRE) -- Cpocket, which provides billing and pa= yment=20 services online, has raised KRW 1.5 billion ($1.1 million) from Korea=20 Development Bank and KDB Capital, according to president K. H. Kim.=20 Post-money, the company has a valuation of $20 million. Funds will be used= =20 for infrastructure and are expected to last until September. The company=20 expects to have $3 million in revenues this year.=20 =09=09http://www.cpocket.com =09=09 =09=09 =09=09Embark Gets $3 Million, Bringing Series F to $8 Million =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Embark, which provides software for h= igher=20 education, said it has secured $3 million from Norwest Venture Partners, Do= ll=20 Capital Management, and Morgan Stanley Dean Witter Venture Partners, bringi= ng=20 Series F funding to $8 million. The company, which received $5 million in= =20 debt financing from those three investors in November, declined to say=20 whether the debt financing converted to equity. The company said that funds= =20 will be used for product development. =09=09http://www.embark.com =09=09 =09=09 =09=09Orange to Become Third Co-owner in 3G Infrastructure =09=09 mail? top =09=09 =09=09 STOCKHOLM (VENTUREWIRE) -- Orange, a wireless communications company= , said=20 it has signed a letter to buy a third of of 3G Infrastructure, a joint=20 venture between Europolitan Vodafone and Hi3G Access that will provide 3G= =20 mobile telephony infrastructure. 3G will operate in areas outside of=20 Goteborg, Malmo, and Stockholm. Orange is owned by France Tlcom, Bredband= =20 Mobil, Skanska, NTL, and Schibsted. Hutchison Whampoa has a 60% stake in Hi= 3G=20 and Sweden's Investor AB holds the remaining 40%.=20 =09=09http://www.orangecommunications.nu =09=09 =09=09 =09=09bad news =09=09? =09=09Linux-based Software Developer Eazel Closes =09=09 mail? top =09=09 =09=09 MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- Eazel, a developer of user-in= terface=20 software and system management services for Linux, said it has ceased=20 operations. In a note posted on its Web site, the company said it could not= =20 secure additional funding. The company laid off 40 of its 75 employees two= =20 months ago, citing the difficult funding environment and its efforts to=20 release a new product, a services platform slated for roll out this spring.= =20 The company had already launched its first product, Nautilus I, a front-end= =20 client product. In the note, the company stated "We are confident ... that= =20 Nautilus' development will continue forward." The company raised=20 approximately $15 million over two rounds of funding. Backers included Acce= l=20 Partners. When asked last Friday about a possible shutdown, Eazel said it h= ad=20 no comment. The company's phone has since been disconnected. Accel Parnters= =20 did not return calls. Eazel was founded by several widely-known veterans of= =20 Apple Computer, including Mike Boich, Andy Hertzfeld! , and Mike Homer. =09=09http://www.eazel.com =09=09 =09=09 =09=09RoundArch Cuts 12% of North American Staff =09=09 mail? top =09=09 =09=09 CHICAGO (VENTUREWIRE) -- RoundArch, a provider of customer relations= hip=20 services, said it cut approximately 34 people, or 12% of its 290 member=20 staff, from its North American offices. The company said the cuts were=20 prompted by a need to adjust the company's size to current growth=20 projections. The company said that all of the laid-off employees received= =20 severance. RoundArch said it is profitable and has no plans to seek=20 additional funding. The company was founded in May 2000 with $10 million fr= om=20 Deloitte Consulting, Broadvision, and the WPP Group. RoundArch also has=20 offices in Toronto and London. =09=09http://www.roundarch.com =09=09 =09=09 =09=09new products =09=09? =09=09Online and Analytical Consultancy Compete Announces Launch =09=09 mail? top =09=09 =09=09 BOSTON (VENTUREWIRE) -- Compete, which provides online and analytica= l=20 consulting services focused on customer intelligence, announced its launch.= =20 Founded in August 2000, Compete offers Compete First Take, an online=20 subscription service that provides metrics; Industry Capsule, which looks a= t=20 subjects like online brokerage and financial information sources; and=20 consulting services. Compete is backed by Charles River Ventures and=20 idealab!. Man Jit Singh is the company's CEO.=20 =09=09http://www.compete.com =09=09 =09=09 =09=09EdgeMatrix and MobileOne Form Wireless Intellect Labs =09=09 mail? top =09=09 =09=09 SINGAPORE (VENTUREWIRE) -- Edgematrix, a developer of information=20 infrastructure technology products and professional services, and MobileOne= ,=20 a mobile operator, announced they have agreed to form Wireless Intellect=20 Labs, an independent wireless research center that will focus on wireless= =20 broadband software, and multichannel commerce and transactions. Both=20 companies will invest $1 million to fund the center in the first year.=20 Wireless Intellect Labs will begin operations in the third quarter, and wil= l=20 license its technology to telecommunications operators and manufacturers.= =20 Approximately 10 employees will staff the company. The company also expects= =20 to hire a general manager by the third quarter. Mr. Varun Arora, senior=20 director of planning and development at EdgeMatrix, will head the research= =20 center. EdgeMatrix is backed by over $12 million from 3i, Agency.com, and= =20 NetworkAsia. MobileOne is backed by Keppel Group, Singapore Press Holdings,= =20 and Greater Eastern Telecommunications.=20 =09=09http://www.edgematrix.com =09=09http://www.m1.com.sg =09=09 =09=09 =09=09Sightward Launches and Introduces First Product =09=09 mail? top =09=09 =09=09 BELLEVUE, Wash. (VENTUREWIRE) -- Sightward, a predictive analytics c= ompany,=20 said it launched and will begin offering products. The company recently=20 changed its name from Applied Inference, but has not changed its direction = as=20 a result of the new name, a company spokeswoman said. In 1999, CTO Rod Cook= =20 founded Sightward and is a member of the six person board. Kevin Klustner i= s=20 the company's president and CEO. The company has raised $5 million to date= =20 from Northwest Venture, Fluke Venture Partners, Timberline Venture Partners= ,=20 eFund, and an undisclosed individual.=20 =09=09http://www.sightward.com =09=09 =09=09 =09=09Terrace Mountain Changes Name to Impart Technology =09=09 mail? top =09=09 =09=09 AUSTIN (VENTUREWIRE) -- Terrace Mountain Systems, a provider of soft= ware for=20 embedded wireless services, said it has changed its name to Impart=20 Technology. The company, which had previously provided consulting services= =20 for embedded communication systems, has refocused on its software business.= =20 Impart expects to launch its first product in about four weeks. To date, th= e=20 company has raised $2.5 million in two rounds from AV Labs, Convergent=20 Investors, G51 Capital, and Techxas Ventures. Impart expects to begin raisi= ng=20 $5 million to $7 million in Series C funding within 60 days. =09=09http://www.imparttech.com =09=09 =09=09 =09=09m&a =09=09? =09=09All Bases Covered Makes Second Acquistion in a Week =09=09 mail? top =09=09 =09=09 REDWOOD CITY, Calif. (VENTUREWIRE) -- All Bases Covered (ABC), which= =20 provides IT consulting and outsourcing services for small offices, said it= =20 has acquired Mission Critical Systems, an outsourced IT services provider t= o=20 Denver's legal community, in a cash and stock deal. Full terms of the=20 transaction were not disclosed. Mission Critical employed five people that= =20 will move into ABC's offices. Earlier this week, ABC announced it acquired= =20 Boston-based Advanced Network Technology Services (ANTS), a technology=20 service provider. ABC has raised $77 million to date from backers Ironwood= =20 Capital, Red Rock Ventures, and Technology Crossover Ventures. ABC was=20 founded in October 1997.=20 =09=09http://www.allcovered.com =09=09 =09=09 =09=09Princeton eCom Buys Venture Finance Software from Intuit =09=09 mail? top =09=09 =09=09 PRINCETON, N.J. (VENTUREWIRE) -- Princeton eCom, which provides ele= ctronic=20 billing and payment services to corporations and banks, said it acquired=20 Intuit's online bill and payment service, Quicken Bill Manager, and all the= =20 outstanding shares of Venture Finance Software, a wholly owned subsidiary = of=20 publicly traded Intuit. Financial details of the deal were undisclosed. As= =20 part of the deal Intuit has the option to take a 20% equity stake in=20 Princeton or the cash equivalent in February 2002. Princeton also said it= =20 made employment offers to the 25 employees from Intuit's Quicken division a= nd=20 plans to open an office in the vicinity of Intuit's Quicken offices in=20 Mountain View, Calif. Princeton eCom raised $20 million in convertible debt= =20 in April from existing investors Mellon Ventures and New Century Equity=20 Holdings. The company has raised over $104 million from BT Investment=20 Partners; Bottomline Technologies; Mellon Ventures; New Century Equity=20 Holdings, which owns 42.5% of the firm; SG Capital P! artners; and Terra=20 Lycos Ventures. =09=09http://www.princetonecom.com =09=09 =09=09 =09=09Net Printing Products Firm PrintCafe Buys Assets of Impresse =09=09 mail? top =09=09 =09=09 PITTSBURGH (VENTUREWIRE) -- printCafe, which provides Internet-based= ,=20 business-to-business products and services for the printing and publishing= =20 industry, announced it has acquired all of the intellectual property assets= =20 of Impresse, a provider of Internet commerce services focused on commercial= =20 printing procurement that has gone bankrupt, for an undisclosed amount.=20 printCafe purchased the assets from Sherwood Partners, a technology busines= s=20 advisory firm, that is the assignee of Impresse's assets for the benefit of= =20 its creditors. Last October, following the resignation of its CEO Nimish=20 Mehta, Impresse laid of an undisclosed number of employees. Impresse, which= =20 has since shut down, was funded by Adobe Ventures, Amerindo Investment=20 Advisors, Atlas Ventures, BancBoston Ventures, Benchmark Capital, Comdisco,= =20 Gilbert Global Equity Partners, Hambrecht & Quist Ventures, JW Seligman &= =20 Co., Kleiner Perkins Caufield & Byers, Palantir Capital, and Van Wagoner=20 Capital Management. printCafe, which has raised ! $113 million in funding t= o=20 date, is backed by Creo Products; Prography Systems; HarbourVest Partners;= =20 Weiss, Peck & Greer; and Mellon Ventures. =20 =09=09http://www.printCafe.com =09=09 =09=09 =09=09Lost Boys, Incubation and Design Firm, Makes Acquisitions =09=09 mail? top =09=09 =09=09 AMSTERDAM (VENTUREWIRE) -- Lost Boys, a pan-European provider of inc= ubation=20 and new media services based in the Netherlands, said it has merged with th= e=20 German branding and design firm MetaDesign. MetaDesign also has operations = in=20 Zurich and San Francisco. The merger with MetaDesign comes two days after t= he=20 company announced the acquisition of French interactive technology company= =20 Lab Production. Lost Boys is backed Roel Pieper, which took an undisclosed= =20 equity stake in the company in 1998. In May 2000 the Amsterdam-based firm= =20 acquired two Dutch companies, Netcast, an Internet business-to-business=20 services firm, and Internet consulting firm MVLG. The Lost Boys incubator h= as=20 launched one company, NedCargo, an online marketplace for ocean container= =20 transportation. =09=09http://www.lostboys.com =09=09 =09=09 =09=09Pitman Acquires Online Printing Equipment Firm PrintNation =09=09 mail? top =09=09 =09=09 TOTOWA, N.J. (VENTUREWIRE) -- Pitman, which provides digital imaging= =20 services, traditional pre-press and pressroom products, announced it has=20 acquired PrintNation, an online printing equipment and supplies store, for = an=20 undisclosed amount. Pitman said it will retain the PrintNation name for the= =20 e-commerce site, which will be relaunched this month with Pitman's full=20 product line. Founded in 1906, Pitman has 20 fully-stocked warehouse=20 locations across the U.S. Pitman said it will continue to support its own w= eb=20 site at www.pitman.com for customer information, support services, product= =20 sales, technical resources and industry information. PrintNation was funded= =20 by Lehman Bros. Venture Partners, Partech International, U.S. Venture=20 Partners, and Venrock Associates. =09=09http://www.pitman.com =09=09http://www.printnation.com =09=09 =09=09 =09=09Poster Firm Bignose Acquires Photo Finishing Site Eframes =09=09 mail? top =09=09 =09=09 BREMERTON, Wash. (VENTUREWIRE) -- Bignose.com, a provider of custom= =20 large-format printing products, said it acquired San Francisco-based=20 eframes.com, a supplier of custom framed prints and online photo finishing.= =20 Financial terms of the deal were not disclosed. Eframes will operate as a= =20 division of Bignose, but will consolidate its administration and Web=20 development with Bignose. Brian Dunham, president of eframes.com, will serv= e=20 as president of the eframes division. A Bignose spokesperson said the compa= ny=20 will be taking on all five eframes employees. Last September, Zing Network,= =20 an online photo service, acquired eframes but then spun it out again into a= =20 stand-alone company a few months ago, Mr. Dunham said. Eframes.com has=20 received funding from Villante Capital Partners. Bignose.com is self-funded= .=20 =09=09http://www.bignose.com =09=09http://www.eframes.com=20 =09=09 =09=09 =09=09eKit.com Buys Call Sciences' International Calling Card Biz =09=09 mail? top =09=09 =09=09 EDISON, N.J. (VENTUREWIRE) -- Call Sciences, an international corpor= ation=20 that develops and markets unified communications services, announced it has= =20 sold its international calling card business to eKit.com, an internet and= =20 communications provider specializing in the travel industry. A Call Science= s=20 spokesman declined to disclose the financial terms of the transaction and= =20 could not say if the sale would affect any of Call Science's employees.=20 However, He said that the proceeds of the sale will go to finance its recen= t=20 acquisition of Vocal Link, a communications services provider specializing = in=20 e-mail hosting and voice-activated messaging. Call Sciences acquired Vocal= =20 Link for an all-stock deal valued around $15 million. Call Sciences is back= ed=20 by the Chatterjee Group. eKit.com is backed Escor, Allen & Buckeridge and A= MP=20 Private Capital UK. =20 =09=09http://www.callsciences.com =09=09http://www.ekit.com =09=09 =09=09 =09=09new directors =09=09? =09=09Clarity Names First Chairman=20 =09=09mail? top =09=09 =09=09 TROY, Mich. (VENTUREWIRE) -- Clarity, which provides software produc= ts for=20 voice-activated telecommunications and human-to-machine interfaces, said it= =20 appointed John H. Duerden as its first chairman. Mr. Duerden was CEO of=20 Lernout & Hauspie until he left in January 2001 due to differences with the= =20 company's board. Lernout & Hauspie was being investigated by the SEC at the= =20 time over its historical accounting and operational practices. Clarity is= =20 backed by Duchossois TECnology Partners, Sloan Ventures, individual=20 investors, and other undisclosed institutions. President and CEO Raymond Gu= nn=20 is also a member of the seven-person board. Mr. Duerden was introduced to t= he=20 company through Robert Frost, a partner of Investor Access and a member of= =20 Clarity's advisory board.=20 =09=09http://www.clarityco.com =09=09 =09=09 =09=09new people =09=09? =09=09SmartBargains Appoints Former Barnes&Noble.com Exec to CEO =09=09 mail? top =09=09 =09=09 BOSTON (VENTUREWIRE) -- SmartBargains.com, an online retailer of bar= gain and=20 closeout merchandise, said it appointed Carl S. Rosendorf as its new CEO an= d=20 board member. He replaces interim CEO and current board member Malcolm L.= =20 Sherman, the chairman of the board at Gordon Brothers. Mr. Rosendorf spent= =20 the last four years with Barnes&Noble.com as an executive vice-president fo= r=20 e-commerce. He was introduced to the company through Ossining, N.Y.-based= =20 executive search firm Ramsey Beirne Associates. Founded in September 2000,= =20 SmartBargains raised $33 million in one round of funding from Highland=20 Capital Partners, America Online, Dorset Capital, General Catalyst, Berkshi= re=20 Partners, Madison Dearborn, and Gordon Brothers Group. =20 =09=09http://www.smartbargains.com =09=09 =09=09 =09=09Creative Planet Promotes CFO to President =09=09 mail? top =09=09 =09=09 LOS ANGELES (VENTUREWIRE) -- Creative Planet, a business-to-business= =20 technology and information services firm for media industry professionals,= =20 announced it has promoted its chief financial officer, Kelyn Brannon, to=20 president. Ms. Brannon, who joined Creative Planet late last year, will=20 report to Chairman and CEO Allen DeBevoise and will head operations,=20 including the company's newly established Movie Magic Producer and Studio= =20 System business unit. Before joining Creative Planet, Ms. Brannon was chief= =20 accounting officer of Amazon.com. Creative Planet, which plans to break eve= n=20 in 2002, has raised nearly $100 million in funding to date. Investors in th= e=20 company include Ares Management, Chase Capital Partners, East River Venture= s,=20 J. & W. Seligman Funds, PaineWebber Capital, SunAmerica Investments, Times= =20 Mirror Chandler Trust Ventures, Trekk Opportunity Partners, and Waterview= =20 Advisors. =09=09http://www.creativeplanet.com =09=09 =09=09 =09=09CyLex Systems Appoints New President & CEO =09=09 mail? top =09=09 =09=09 BOCA RATON, Fla. (VENTUREWIRE) -- CyLex, which provides services for= the=20 management and organization of data, announced the appointment of Bill E.= =20 Newell as president and CEO. Mr. Newell replaces co-founder Zijad Aganovic,= =20 who has been named chairman of the board. Mr. Newell most recently served a= s=20 vice president of Safeguard Scientifics, where he provided managerial and= =20 strategic guidance to selected portfolio companies. He has also held=20 president and CEO positions for companies including US Data, Micro Dynamics= ,=20 and PPS/Husky Computers. As president and CEO, Mr. Newell will report to th= e=20 company's seven-member board of directors, which includes Brian Schwartz,= =20 managing director of HIG Ventures, and Bjorge Gretland, managing partner an= d=20 head of NorgesInvestor Vekst AS. To date, CyLex has raised approximately $2= 0=20 million in three rounds of funding. Backers include Alpine Venture Capital= =20 Partners, Antares Capital Fund III, Carnegie ASA, Documentum, Greer=20 Investors, H.I.G. Documents, NorgesInvestor Vekst, ! and Stonehenge Capital= . =09=09http://www.cylexsys.com =09=09 =09=09 =09=09Net Security Firm Zone Labs Names First President and COO =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Zone Labs, which develops Internet se= curity=20 software, announced it has appointed Irfan Salim as the company's first=20 president and COO. Gregor Freund, CEO and co-founder, had previously held= =20 those responsibilities. Mr. Salim, who was introduced to the company throug= h=20 mutual contacts at Zone Labs, had previously served as president of U.S. an= d=20 European operations for Trend Micro. He had also served as president and CE= O=20 of Software Publishing Corp. Zone Labs is backed by EastWest Ventures, Inte= l,=20 Oxford Bioscience, Pacific Venture Group, and John McAfee. =09=09http://www.zonelabs.com =09=09 =09=09 =09=09PrivateExpress Appoints New President & CEO =09=09 mail? top =09=09 =09=09 SAN MATEO, Calif. (VENTUREWIRE) -- PrivateExpress, a provider of sec= urity=20 software for Internet-based business communications, said that it has=20 appointed Richard W. Ormond to president and CEO. Mr. Ormond most recently= =20 served as chief operating officer at e-commerce provider Glovia=20 International, a subsidiary of Fujitsu Limited. He replaces Jim Levy, who w= as=20 interim chief executive officer and will remain with the company as chairma= n.=20 Mr. Ormond also joins as the seventh member of the board, which includes=20 Alberto J. Yepez, president of Entrust Ventures, Philip Wang, president of= =20 F.V.I.G. Fortunetech Partners, Susan E. Hopkinson, vice president of Nomura= =20 Securities International, David Wynne, senior vice president of Transpac=20 Capital, and private investor Eugene Flath. To date, PrivateExpress has=20 received $20 million in venture financing. Investors include Entrust=20 Ventures, F.V.I.G. Fortunetech Partners, Harbinger Venture Management, Nomu= ra=20 Securities International, and Transpac Capital. =09=09http://www.privateexpress.com =09=09 =09=09 =09=09EVLogix Officially Appoints Founder as President & CEO =09=09 mail? top =09=09 =09=09 DEERFIELD BEACH, Fla. (VENTUREWIRE) -- EVLogix, a provider of Web-ba= sed=20 supply chain management software for mid-sized businesses, said it appointe= d=20 founder Andreas Kozma as chief executive officer and president. Before=20 starting the company, Mr. Kozma was head of European development at=20 Nutraceutics, a pharmaceutical company. The company officially launched in= =20 January and is backed by undisclosed individuals. EVLogix said it is=20 currently seeking to raise its first round. =09=09http://www.evlogix.com =09=09 =09=09 =09=09vc fund news =09=09? =09=09Israeli Telecom Firm Bezeq Teams Up to Start $50M VC Fund =09=09 mail? top =09=09 =09=09 TEL AVIV (VENTUREWIRE) -- Bezeq, an Israeli national telecommunicati= ons=20 provider; Discount Capital Markets, an investment firm; said they are=20 establishing Stage-One Ventures, a new $50 million venture capital fund. Th= e=20 fund will focus on seed investments in communications startups. Bezeq said = it=20 will invest $20 million, while Discount Capital Markets will invest at leas= t=20 $10 million. Yuval Cohen, managing director of Clal Group's Infinity fund,= =20 and Adam Gaash, a former managment team member of ECI and RAD Group, will= =20 manage the fund. Bezeq has invested in two other Israeli venture capital=20 firms, BRM Capital and Eurofund 2000.=20 =09=09http://www.bezeq.co.il =09=09 =09=09 =09=09vc personnel =09=09? =09=09Encompass Ventures Adds New Associate to Team =09=09 mail? top =09=09 =09=09 BELLEVUE, Wash. (VENTUREWIRE) -- Encompass Ventures Management said = it has=20 added Rob Jacobs as an associate. Mr. Jacobs will help portfolio companies = to=20 evaluate international market opportunities. The firm currently has $65=20 million under management and 23 portfolio companies, and is raising a $100= =20 million fund. Encompass Ventures has a staff of two managing partners, one= =20 senior associate, and one associate. =09=09http://www.encompassventures.com =09=09 =09=09 =09=09Atlas Venture Names Entrepreneur as Venture Partner =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- Atlas Venture, an international venture ca= pital=20 firm investing in communications, information technology, and life sciences= =20 companies, said it named Bill Bryant as a venture partner at Atlas Venture'= s=20 Seattle office, which opened in January. Mr. Bryant co-founded Qpass, a=20 provider of digital commerce services, where he served as CEO until 1998 an= d=20 as chairman until January 2001. He currently serves as the chairman of the= =20 company's advisory board. Mr. Bryant alos co-founded and served as presiden= t=20 of Netbot, which was acquired by Excite@Home. Atlas Venture's most recent= =20 investments on the West coast include Asta Networks, a Seattle-based provid= er=20 of network reliability and management services, and Mspect, a Sunnyvale,=20 Calif.-based provider of performance measurement services for the mobile=20 internet. Founded in 1980, Atlas Venture has six international funds and=20 manages more than $2.5 billion in committed capital. It recently closed a= =20 $950 million venture fund. http://www.atlasventure.com =09=09 =09=09 =09=09vw corrections =09=09? =09=09MolecularWare =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- A story in Friday's VentureWire about=20 MolecularWare's new funding from KnowledgeCube incorrectly omitted Aspen=20 Investment Group as a prior investor in the company. =09=09 =09=09 =09=09company index =09=09top =09=09 =09=09Algorx Pharmaceuticals, All Bases Covered, Alphamosaic, Atlas Venture= , Beyond=20 Genomics, Bezeq, Bignose.com, Call Sciences, Clarity, Comlase, Compete,=20 Cpocket, Creative Planet, CyLex Systems, DataSynapse, e.Intelligence, Eazel= ,=20 EdgeMatrix, eframes.com, eKit.com, Embark.com, Encompass Ventures, EVLogix,= =20 Flatiron Partners, Flatiron Partners, Foundstone, Hermes Pensions Managemen= t,=20 Impart Technology, Kodiak Venture Partners, Lost Boys, MobileOne, OffRoad= =20 Capital, Orange, Pitman Company, Princeton eCom, printCafe, PrintNation.com= ,=20 PrivateExpress, Roundarch, Sightward, smartBargains, Startups, Tahoe=20 Networks, White Amber, Xora, Yube.com, Zone Labs=20 =09=09 =09=09 =09=09Technologic Partners' renowned Enterprise Outlook =09=09conference is returning to San Francisco for a two-day =09=09run in June. You'll hear CEOs from 100 of the most =09=09promising start-ups in burgeoning markets like =09=09collaborative systems, outsourced services, application =09=09integration, and information management. =09=09 =09=09Enterprise Outlook =09=09San Francisco Airport Marriott =09=09June 26 & 27, 2001 =09=09 =09=09Register before May 11 and SAVE $300 off the regular =09=09conference fee:http://www.enterpriseoutlook.com =09=09 =09=09 =09=09 =09=09investor index =09=09top =09=09 =09=09Barnard & Co., Brightstone Capital, Commonwealth Capital Ventures, Di= scovery=20 Ventures, Doll Capital Management, Elan, European Equity Partners, First=20 Union Capital Partners, InnovationsKapital, InterWest Partners, J.P. Morgan= =20 Capital, JMI Equity Fund, KDB Capital, Korea Development Bank, Morgan Stanl= ey=20 Dean Witter Venture Partners, Norwest Venture Partners, OVP Venture Partner= s,=20 Prelude Trust, Riordan Lewis & Haden, Sofinnova Ventures, Wilson Sonsini=20 Goodrich & Rosati =09=09 =09=09 =09=09your account =09=09 =09=09click on the following links to: =09=09=01=07 Switch to the plain-text version =09=09=01=07 Change your e-mail address =09=09=01=07 Cancel your subscription =09=09=01=07 Thoughts, suggestions, commentary =09=09=01=07 This newsletter was mailed to you at: jdasovic@ENRON.COM =09=09 =09=09contact =09=09 =09=09Send news items to editor@venturewire.com =09=09Send questions, complaints, or service queries to venturewire@venture= wire.com =09=09Send advertising inquiries to visconti@venturewire.com =09=09 =09=09 =09=09legal =09=09 =09=09This copy of VentureWire and the information within it may not be rep= roduced,=20 saved, or otherwise copied into a database without the prior written consen= t=20 of Technologic Partners. =09=09 =09=09VentureWire is a service mark of Technologic Partners =09=09,2001 Technologic Partners =09=09=09?
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