|
|
Enron Mail |
=09=09?=09
?=09VentureWire =09Tuesday, May 22, 2001=09=09? ?=09CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND=09VentureW= ire Index =09=09'VentureWire =09=09today: 737.6 ? +3.36%=09? ? =09=09 =09=09 =09=09top stories =09=09 =09=09 =01=07 Kodiak Venture Partners Closes Fund II with $290M =09=09 =01=07 Mercury Pays $147M for Freshwater Software =09=09 =01=07 Manufacturing Services Firm Celetron Lands $48M Round One=20 =09=09=01=07 TVM Has First Close on New Life Science Fund =09=09 =09=09UPCOMING EVENTS=20 =09=09 Enterprise Outlook 2001 =09=0990 private enterprise companies already comfirmed to present their bu= siness=20 plans. Register for Enterprise Outlook to learn more!=20 =09=09 =09=09TODAY'S FEATURES=20 =09=09Lucent's Investment Pace Slows =09=09By Matthew Sheahan =09=09Lucent Venture Partners, the venture capital unit of Lucent Technolog= ies, is=20 now investing from its third fund, though at a slower pace than in years=20 past, according to managing partner Ashton B. Peery. more<< =09=09 =09=09 =09=09Entrepreneurs and VC-backed company CEOs: =09=09* Where can you obtain FREE detailed information on the =09=09latest quarter'sventure funding by region, industry, =09=09round and stage of development? =09=09* Where are there FREE tools and templates for writing a =09=09business plan and securing venture funding? =09=09* And if you're a young tech company CEO, where can you =09=09hear other CEOs discuss the issues of the day? =09=09VISIT PricewaterhouseCooper's Entrepreneur Resource Center =09=09for this and more --<http://www.pwcmoneytree.com =09=09 =09=09 =09=09 =09=09iCelerate Gets Series B Funds, Looks For New Deals =09=09By Taran Provost =09=09iCelerate, an application, integration and managed services firm, clo= sed a=20 new round of funding, and is on the lookout for acquisitions, sources at th= e=20 company told VentureWire. more<< =09=09 =09=09Instant Messaging Company Odigo Looking For Partnerships =09=09By Lizbeth Scordo =09=09Fresh off a new strategic partnership, instant messaging firm Odigo i= s=20 continuing to seek more, and predicts profitability next year, Avner Ronen,= =20 co-founder and vice president of strategic development, told VentureWire.= =20 more<< =09=09 =09=09 =09=09 =09=09 =09=09new money =09=09 =09=09 =01=07 CGtime Gets $7 Million Series A =09=09 =01=07 e-Merchandising Tech Firm MotionPoint Raises $400,000 Seed=20 =09=09=01=07 Lawson Software Raises $40M in First Round=20 =09=09=01=07 NetContinuum Raises $26M Second Round=20 =09=09=01=07 Virtual Mobile Operator Firm Spinbox Sets Up with $2.4M Seed =09=09 =01=07 Wireless Tech Firm Danger Closes Series A with $11M =09=09 =01=07 Air Charter Firm FlightTime Gets $25 Million Series B =09=09 =01=07 Bluetooth Tech Firm Inventel Systemes Gets $5.3M First Round =09=09 =01=07 Cambridge Broadband Raises $15 Million in Round Two =09=09 =01=07 Database Management Firm Lazy Software Caps $8.6M Round One= =20 =09=09=01=07 Net Consultancy Proteus Gets Series A from Lycos Ventures =09=09 =01=07 NuVasive Raises $29.3 Million Series D =09=09 =01=07 Celvibe Raises $2M More in Second Round =09=09 =01=07 Financial Services Firm MiFund Raises $25 Million Series B =09=09 =01=07 Mobile Applications Provider ViAir Gets $15M Round Two =09=09 =01=07 Reinhardt Gets $5.3M from JBWere in Round Two =09=09 =01=07 Supply Chain Firm SeeCommerce Raises $27 Million Series E =09=09 =01=07 Zinio Systems Closes $5M Series B Led by NEA =09=09 =01=07 E-Mail Management Service Akio Solutions Raises $3 Million =09=09 =01=07 Antrim Design Systems Caps $11 Million in Series D =09=09 =01=07 NewMarkets Raises $7.5M in Series F Funds =09=09 =09=09 =09=09bad news =09=09 =09=09 =01=07 AgWeb Discloses Staff Cuts =09=09 =01=07 Online Construction Marketplace Ironmax Cuts 30% of Staff =09=09 =01=07 Rx.com No Longer Filling Prescriptions =09=09 =09=09 =09=09new products =09=09 =09=09 =01=07 AuctioNet.com Changes Name to Realm Connect =09=09 =01=07 Voice and Data Services Firm Nextira Federal Launches =09=09 =09=09 =09=09m&a =09=09 =09=09 =01=07 Net Bookmarking Tech Firm Blink.com Buys BookmarksPlus =09=09 =01=07 Everstream Acquires The MusicBooth in $10M Stock Deal =09=09 =01=07 Primus Gets Search Engine AnswerLogic in $3M Stock Swap=20 =09=09=01=07 MindArrow Systems Buys Control Commerce in Stock Deal =09=09 =09=09 =09=09new directors =09=09 =09=09 =01=07 iVita Names Landmark Graphics President and CEO to Board =09=09 =01=07 Armando Geday Joins Chameleon Board of Directors =09=09 =09=09 =09=09new people =09=09 =09=09 =01=07 Colorado MicroDisplay Changes Name, Juggles Execs =09=09 =01=07 Icarian Hires Ed Koepfler as New President and CEO =09=09 =01=07 Travel Site Viator Promotes COO Jan Knox to President =09=09 =01=07 IKANO Appoints New President and Chief Operating Officer =09=09 =01=07 MRM Fulfillment Appoints New President & CEO =09=09 =01=07 DigitalMoJo Announces Thomas Joseph As New Chairman & CEO =09=09 =01=07 Digi-Block Taps Ex Pres of Ziff-Davis Education as CEO =09=09 =09=09 =09=09vc fund news =09=09 =09=09 =01=07 University of Pittsburgh, Redleaf Form Tech Funding Program =09=09 =09=09 =09=09vc personnel =09=09 =09=09 =01=07 Baroness Sarah Hogg Set to Become 3i Chair in January =09=09 =01=07 Dekkers Davidson Joins Charles River as Exec in Residence =09=09 =01=07 Growth Capital Names New Executive Vice President =09=09 =09=09 =09=09vw corrections =09=09 =09=09 =01=07 Broadview =09=09 =01=07 Porivo Technologies =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=09Time is money and time can be saved through =09=09effortless, streamlined Web-based enterprise =09=09services. =09=09 =09=09As IBM preps to launch Web-based software =09=09allowing for smoother enterprise-application- =09=09integration, it will face competition from the =09=09likes of Hewlett-Packard, Microsoft, Oracle and Sun. =09=09Which will attract the greatest number of =09=09developers and customers in the Web-services =09=09arena? =09=09 =09=09Hear what Steven Mills, Senior VP & Group =09=09Executive of IBM Software, has to say about =09=09IBM's latest at Enterprise Outlook, June 26 & 27. =09=09 =09=09Register today:http://www.enterpriseoutlook.com/register.asp =09=09 =09=09 =09=09 =09=09 top stories=20 =09=09? =09=09Kodiak Venture Partners Closes Fund II with $290M =09=09 mail? top =09=09 =09=09 CONCORD, Mass. (VENTUREWIRE) -- Kodiak Venture Partners, a seed and= =20 early-stage venture capital firm, said it closed its second fund, Kodiak=20 Venture Partners II (KVP II) with $290 million. The fund, initially targete= d=20 at $250 million, will make seed and early stage investments typically rangi= ng=20 between $500,000 and $5 million. KVP will continue to focus on=20 communications, semiconductor, and software sectors in eastern North Americ= a.=20 Partner Mike O'Neill said most of KVP II's investments so far have been in= =20 the Ottawa and Boston areas. While the company will continue to concentrate= =20 on those areas, it will expand into a few other cities, including Washingto= n.=20 KVP II has already invested in several companies including TeraConnect, an= =20 optical communications company; IceFyre Semiconductor, a developer of=20 high-speed wireless connectivity chips; Sentito, a provider of network and= =20 telecommunications equipment; and Chaoticom, a developer of data compressio= n=20 and encryption technology. Kodiak said all of the! institutional and=20 corporate limited partners from its first fund contributed to the new fund= =20 along with several new institutions and individuals from the technology=20 industry. Co-founder Dave Furneaux serves as managing general partner of KV= P.=20 Limited partners include Cisco, PMC-Sierra, Goldman Sachs, BancBoston=20 Capital, and CIBC. =09=09http://www.kodiakvp.com =09=09 =09=09 =09=09Mercury Pays $147M for Freshwater Software =09=09 mail? top =09=09 =09=09 SUNNYVALE, Calif. (VENTUREWIRE) -- Mercury Interactive, a publicly = traded=20 provider of enterprise testing and performance management software, said it= =20 acquired Freshwater Software, which develops Web management tools and=20 services, for $147 million in cash for Freshwater's outstanding capital=20 stock. Mercury also assumed Freshwater's stock option plan. Mercury said=20 Freshwater will become a wholly owned subsidiary but will retain its name,= =20 its Boulder, Colo.-based office, and its 64-person staff. Four of the five= =20 founders of Freshwater will remain with the company. Donna Auguste, the fif= th=20 founder and the president and CEO of Freshwater, will leave the company aft= er=20 a transition period to pursue philanthropic interests. In 1996 Freshwater= =20 raised $1.25 million from Mayfield Fund and Mohr, Davidow Ventures. Mercury= =20 received financial advice from PricewaterhouseCoopers and legal counsel fro= m=20 Davis, Polk & Wardwell. =20 =09=09http://www.freshwater.com =09=09http://www.mercuryinteractive.com =09=09 =09=09 =09=09Manufacturing Services Firm Celetron Lands $48M Round One=20 =09=09mail? top =09=09 =09=09 SIMI VALLEY, Calif. (VENTUREWIRE) -- Celetron International, an=20 international provider of electronic and optical manufacturing services,=20 announced closing a $48 million first round led by New Enterprise Associate= s=20 (NEA) that also included Golden Gate Capital, Baring Asia Private Equity Fu= nd=20 II, Alta Partners, and an undisclosed strategic corporate investor. Celetro= n,=20 founded in 1981 and formerly family owned, said the board was still being= =20 formed. However, Celetron said it expects the board to be comprised of thre= e=20 or four of its own executives as well as representatives from NEA, Golden= =20 Gate, Baring Asia, and the strategic corporate investor. Celetron said the= =20 financing would be used for accelerated development of its optical=20 manufacturing division, capital equipment, and as working capital. The=20 company said it had no plans for additional funding. Celetron said it earne= d=20 $200 million in revenues in 2000 and projects to earn close to $500 million= =20 in 2001. Celetron currently employs 7,000 people worldwide and al! so has= =20 offices in India in Bombay, Delhi, and Madras and in Sri Lanka. =20 =09=09http://www.celetron.com =09=09 =09=09 =09=09TVM Has First Close on New Life Science Fund =09=09 mail? top =09=09 =09=09 MUNICH, Germany (VENTUREWIRE) -- Techno Venture Management (TVM), a= =20 German-U.S. venture capital firm, announced first close of TVM V Life Scien= ce=20 Ventures at EUR 70 million ($61 million) as part of its fifth generation of= =20 venture funds. Existing European investors and new investors in U.S. and As= ia=20 participated in the first close. TVM expects to target $219 million for the= =20 Life Science Ventures fund, though the firm expects the fund will exceed th= at=20 target, said partner and COO for U.S. operations John DiBello. Final close= =20 for Life Science Ventures fund is expected in September. Previous limited= =20 partners will contribute more than half the fund, while new investors will= =20 include European pension funds and insurance companies, American pension=20 funds and endowments, and Asian government-related authorities and banks. T= VM=20 expects to invest approximately $8.7 million in each company, for a total o= f=20 25 new portfolio companies over two years. Life Science Ventures will=20 primarily make seed investments in early-sta! ge companies in functional=20 genomics, drug discovery and development, medical devices, small molecule= =20 therapeutics, and peptide chemistry. Managing partner Helmut Schuehsler wil= l=20 have overall responsibility for the TVM V Life Science Ventures. Mr.=20 Schuehsler also oversaw life science investments in TVM IV. The firm is als= o=20 raising TVM V Information Technology, a $219 million fund. First close for= =20 that fund is expected in the third quarter of 2001, and final close in the= =20 first quarter of 2002. Mr. DiBello expects the fund to exceed its $219=20 million target. Like Life Science Ventures, Information Technology will=20 invest approximately $8.7 million in about 25 companies over two years. The= =20 fund will focus on Internet infrastructure, telecommunications, and=20 enterprise software. Limited partners will include European, U.S., and Asia= n=20 banks, pension funds, and insurance companies. Friedrich Bornikoel, managin= g=20 partner for IT investments at TVM, will oversee the new fund, as he overs! = aw=20 Fund IV's IT investments. Terms of the two TVM V funds are "standard" and t= he=20 same as with previous funds, said Mr. DiBello, who disclosed a 20% carry bu= t=20 did not comment on management fees. The firm expects to fundraise again tw= o=20 years after final close of TVM V. The TVM V funds will invest primarily in= =20 German and American companies, in addition to companies in Switzerland,=20 Austria, Israel, and the U.K. UBS Warburg is helping TVM raise the fund. La= w=20 firm Testa Hurwitz is handling the fundraising in the U.S., while S.J. Berw= in=20 provides those services in Germany. The firm currently employs between 20 a= nd=20 25 investment professionals, and expects to add between three and four new= =20 partners within two years. In 2001 TVM promoted John Chapman and Hans G.=20 Schreck to partner positions. TVM currently has $526 million under=20 management, with investments split evenly between life sciences and=20 information technology. =20 =09=09http://www.tvmvc.com =09=09 =09=09 =09=09 new money=20 =09=09? =09=09CGtime Gets $7 Million Series A =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- CGtime, a developer of software engin= es to=20 help brand marketers create incentive marketing programs on the Web, said i= t=20 raised $7 million in its Series A round of funding led by New Enterprise=20 Associates. Odyssey LP, individual investors, and the company's senior=20 management also participated. CGtime said it will use the funding to=20 accelerate development of its software. The company plans to launch its sui= te=20 of marketing and sales applications later this year, and to market it to=20 Fortune 500 companies and advertising agencies. Board members will include= =20 Marke Perry, general partner of New Enterprise Associates; A. Michael Spenc= e,=20 former dean of the Graduate School of Business at Stanford University and= =20 former dean of the faculty of arts and sciences at Harvard; and Robert V.= =20 Gunderson, senior partner of Gunderson Dettmer.=20 =09=09http://www.cgtime.com =09=09 =09=09 =09=09e-Merchandising Tech Firm MotionPoint Raises $400,000 Seed=20 =09=09mail? top =09=09 =09=09 BOCA RATON, Fla. (VENTUREWIRE) -- MotionPoint, which develops online= =20 merchandising services and technology for retailers, said it secured $400,0= 00=20 in seed funding from individual investors, including Charles Vitton of BMO= =20 Nesbitt Burns. The company said it is currently beta-testing its products a= nd=20 plans on commercially launching with two retailers in the fourth quarter of= =20 this year. MotionPoint also said it would triple its six-member staff befor= e=20 the end of the year and that it plans on being profitable by the end of 200= 2.=20 Outside investors hold 10% of the company. MotionPoint said it had a=20 pre-money valuation of $5 million and would consider raising a $3 million= =20 round at the end of the year. Will Fleming, Stewart Padveen, Adam Rubenstei= n,=20 and Enrique Travieso founded MotionPoint in September 2000. =20 =09=09http://www.motionpoint.com =09=09 =09=09 =09=09Lawson Software Raises $40M in First Round=20 =09=09mail? top =09=09 =09=09 ST. PAUL, Minn. (VENTUREWIRE) -- Lawson Software, a provider of inte= grated=20 e-business software applications, said it closed a $40 million first round= =20 led by TA Associates, which invested $30 million, with St. Paul Venture=20 Capital investing the remaining $10 million. David S.B. Lang, a principal a= t=20 TA Associates, joins Lawson's board of directors. Lawson said the financing= =20 would be used as growth capital and to fuel expansion. Founded in 1975,=20 Lawson had 1999 and 2000 year revenues of $268 million and $313 million,=20 respectively. =20 =09=09http://www.lawson.com =09=09 =09=09 =09=09NetContinuum Raises $26M Second Round=20 =09=09mail? top =09=09 =09=09 SANTA CLARA, Calif. (VENTUREWIRE) -- NetContinuum, which provides In= ternet=20 data center infrastructure, announced it has raised $26 million in its seco= nd=20 round of funding led by new investor NIF Ventures, a division of Daiwa=20 Securities Group. Menlo Ventures, which led NetContinuum's first round of= =20 funding, also participated in the round, along with new investors Adams=20 Street Partners, Invus Group, and Siemens Venture Capital. Jim Timmins, a= =20 general partner at NIF, will join NetContinuum's board of directors. Kamal= =20 Anand, vice president of marketing and business development, said=20 NetContinuum will use the funding to develop and launch its product. The = =20 funding is expected to last for 18 months, at which point NetContinuum woul= d=20 seek another round of funding. Mr. Anand said the company plans to reach=20 profitability sometime in 2003. He said NetContinuum's valuation is up more= =20 than three to four times from the previous round. The company has 90=20 employees and plans to add 40 or 50 more by the end of the y! ear.=20 =09=09http://www.netcontinuum.com =09=09 =09=09 =09=09Virtual Mobile Operator Firm Spinbox Sets Up with $2.4M Seed =09=09 mail? top =09=09 =09=09 STOCKHOLM, SE (VENTUREWIRE) -- Spinbox, a newly formed company devel= oping=20 technology for virtual mobile operators, said it raised EUR 2.7 million ($2= .4=20 million) in seed funding led by Brainheart Capital and Christer Hagglund,= =20 founder of Proffice. Petter Bogren of Brainheart and Christer Hagglund both= =20 have board seats. Spinbox intends to provide hosted mobile phone services t= o=20 enable large companies to operate their own mobile services. The company sa= id=20 the financing would be used for product development and increasing its staf= f=20 from six to between 15 and 20. Spinbox plans on making its services=20 commercially available by July. CEO Christer Palmgren, Mr. Hagglund, and=20 Brainheart Capital founded the company in April 2001. =20 =09=09http://www.spinbox.se =09=09 =09=09 =09=09Wireless Tech Firm Danger Closes Series A with $11M =09=09 mail? top =09=09 =09=09 PALO ALTO, Calif. (VENTUREWIRE) -- Danger, which develops and produc= es=20 wireless online digital hardware, software, and services, said it raised $1= 1=20 million in its Series A round of funding led by Softbank Venture Capital.= =20 Undiclosed investors also participated in the round. Greg Galanos of Softba= nk=20 Venture Capital will join Danger's board of directors. A company spokespers= on=20 said Danger, which launched earlier this month, will roll out its first=20 product later this year. =20 =09=09http://www.danger.com =09=09 =09=09 =09=09Air Charter Firm FlightTime Gets $25 Million Series B =09=09 mail? top =09=09 =09=09 WALTHAM, Mass. (VENTUREWIRE) -- FlightTime, a provider of technology= that=20 manages pricing, scheduling, and inventory of charter aircrafts, said it=20 raised $25 million in a Series B round led by Amerland Holdings, with=20 participation of prior investors Axxon Capital, BancBoston Ventures,=20 Covestco-Seteura, and Southeast Interactive Technology Funds. The company= =20 said it plans to dedicate the new funds to sales and marketing expansion as= =20 well as to develop its technology infrastructure. As a result of this=20 financing, Christopher Austen, a partner of Southeast Interactive Technolog= y=20 Funds, and Zacharias Karelas, a representative of Amerland, have joined the= =20 seven-member FlightTime board of directors that also includes John Doggett = of=20 Bancboston Ventures. The company raised $10 million in Series A financing i= n=20 February 2000. =09=09http://www.flighttime.com =09=09 =09=09 =09=09Bluetooth Tech Firm Inventel Systemes Gets $5.3M First Round =09=09 mail? top =09=09 =09=09 PARIS (VENTUREWIRE) -- Inventel Systemes, a radiocommunications fir= m=20 developing Bluetooth and DECT technology, said it closed its first round at= =20 FRF40 million ($5.3 million) led by new investor Banexi Ventures with=20 participation from Innovacom, which is also a new investor. Both Banexi and= =20 Innovacom are taking board seats, but the representatives have not been=20 determined. Inventel said it plans to have a seven-member board with two=20 investor representatives, three company executives, and two outside=20 directors. The company said the financing would be used for further=20 technology development, marketing, and sales. Inventel also said it would= =20 consider a new round with U.S. investors later this year if the company met= =20 certain benchmarks. Inventel, founded in 1990, was profitable prior to this= =20 round of funding and had year 2000 revenues of $4 million and said it plans= =20 to make the same amount in 2001. Banexi and Innovacom own less than 30% of= =20 Inventel. =20 =09=09http://www.inventel.com =09=09 =09=09 =09=09Cambridge Broadband Raises $15 Million in Round Two =09=09 mail? top =09=09 =09=09 CAMBRIDGE, U.K. (VENTUREWIRE) -- Cambridge Broadband, a developer of= =20 broadband wireless technology, said it raised $15 million in second round= =20 funding led by Gilde IT Fund, with participation from Amadeus Capital=20 Partners, Kiwi II, and TVM. The new money will be dedicated to product=20 development and deployment. As a result of this financing, Anton Arts of=20 Gilde IT has been granted the sixth seat on the company's board of director= s,=20 which also includes Peter Wynn of Amadeus Capital Partners and David Cleeve= ly=20 of Analysys Group. In May 2000 the company raised $6 million in a first rou= nd=20 led by Amadeus Capital Partners. Cambridge Broadband plans to raise an=20 additional $5 million before closing this round within the next two months.= =20 =09=09http://www.cambridgebroadband.com =09=09 =09=09 =09=09Database Management Firm Lazy Software Caps $8.6M Round One=20 =09=09mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Lazy Software, which develops a Web-enabled = database=20 management system, said it received an additional GBP 2.5 million ($3.6=20 million) to close its first round at $8.6 million. The new investors are= =20 Commerzbank, which invested $2.9 million, and Metropolitan Venture Partners= ,=20 which invested $720,000. In December Lazy Software received $5 million in= =20 first round funding from Advent Venture Partners. James Powell-Tuck of=20 Commerzbank will join the board of directors. The company said the financin= g=20 would be used for sales, research and development, and further U.S. market= =20 expansion. =20 =09=09http://www.lazysoft.com =09=09 =09=09 =09=09Net Consultancy Proteus Gets Series A from Lycos Ventures =09=09 mail? top =09=09 =09=09 WASHINGTON (VENTUREWIRE) -- Proteus, an Internet consultancy that de= velops=20 Internet, wireless, and interactive television applications, said it has=20 closed Series A at an undisclosed amount with financing from Lycos Ventures= .=20 Brett Moraski of Lycos Ventures joins the board, bringing the total number = of=20 directors to five. Proteus, which has been profitable since 1996, will devo= te=20 funds to developing interactive television and mobile products.=20 =09=09http://www.proteus.com =09=09 =09=09 =09=09NuVasive Raises $29.3 Million Series D =09=09 mail? top =09=09 =09=09 SAN DIEGO (VENTUREWIRE) -- NuVasive, a medical company that designs,= =20 manufactures, and markets spine surgery systems, announced it has closed=20 $29.3 million in Series D equity financing. New investor William Blair=20 Capital Partners VII led the round, with participation from other new=20 investors A.M. Pappas & Associates, RS Coinvestment Fund, Societe Financier= e=20 d'Innovation, and Sofinov. All existing investors -- Domain Associates,=20 Enterprise Partners, and Kleiner Perkins Caufield & Byers -- also joined in= =20 this round. Post-money, NuVasive had a valuation of $75 million in this fla= t=20 round. Robertson Stephens managed the round. William Blair and Sofinov each= =20 gain a seat on the board, which now has eight directors. Funds will be used= =20 for product development, product launch, sales, marketing, and staff=20 expansion. The company employs 63 and expects to add another 10, mostly in= =20 sales, by the end of the year. NuVasive has raised a total of $50 million i= n=20 financing. The company expects to become cash flow pos! itive by mid-2003,= =20 and may raise a small fifth round. NuVasive recently established an office = in=20 New Jersey and in Munich, and will focus on forming co-development,=20 co-marketing partnerships that may involve equity investments. =20 =09=09http://www.nuvasive.com =09=09 =09=09 =09=09Celvibe Raises $2M More in Second Round =09=09 mail? top =09=09 =09=09 NATANYA, Israel (VENTUREWIRE) -- Celvibe, which has developed a tech= nology=20 that enables wireless carriers to deliver live, multi-channel television=20 broadcasts to wireless users in real time based on the MPEG-4 standard, sai= d=20 it has secured an additional $2 million from China Development Industrial= =20 Bank of Taiwan and an undisclosed Asian investor. The latest investment are= =20 additional installments to the company's second round of $12 million that i= s=20 being led by the Challenge Fund. The Challenge Fund, which has invested $8= =20 million in Celvibe, was joined by Poalim Capital Market Technologies, Ophir= =20 Technologies, Eurofund Israel 2000, and tecc-IS in the round. The company= =20 said it will use the funds for research and development, expansion of its= =20 marketing and sales, and to establish strategic partnerships with=20 communications firms in the U.S., Europe, and the Far East.=20 =09=09http://www.celvibe.com =09=09 =09=09 =09=09Financial Services Firm MiFund Raises $25 Million Series B =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- MiFund, a provider of financial servi= ces for=20 the distribution and client management of third party mutual funds, said it= =20 closed on $25 million in its Series B round. The round was led by State=20 Street and included Series A investors Walden Interational Investment Group= ,=20 Partech International, and Crystal Internet Investment Fund. Gary Enos,=20 executive vice president of State Street, will take a seat on the MiFund=20 board of directors as a result of the investment. The company has operation= s=20 in Dublin and Paris as well as in San Francisco, the site of the firm's=20 corporate headquarters.=20 =09=09http://www.mifund.com =09=09 =09=09 =09=09Mobile Applications Provider ViAir Gets $15M Round Two =09=09 mail? top =09=09 =09=09 SEATTLE (VENTUREWIRE) -- ViAir, a provider of mobile applications ma= nagement=20 and delivery platforms, said it raised over $15 million in its second round= =20 of financing led by Spectrum Equity Investors with participation from 3i,= =20 Mercury Interactive, and return investor The Barksdale Group. The company= =20 plans to spend the new funds for expansion into the European and Asian=20 markets, as well as on product development. As a result of this financing,= =20 the company has appointed Victor E. Parker, a general partner at Spectrum, = to=20 its six-member board of directors, which also includes Peter Currie, the=20 founder and partner of The Barksdale Group. In addition, the company=20 announced that it has granted a board seat to Bill Owens, co-CEO and vice= =20 chairman of Teledesic. In May 2000, the company raised $8 million in first= =20 round led by The Barksdale Group, with unnamed individuals participating.= =20 =09=09http://www.viair.com =09=09 =09=09 =09=09Reinhardt Gets $5.3M from JBWere in Round Two =09=09 mail? top =09=09 =09=09 SYDNEY, AU (VENTUREWIRE) -- Reinhardt International, which operates = Reino=20 International, a designer and builder of digital parking meters, announced = it=20 has raised AUD 5 million ($2.6 million) from sole investor JB Were Private= =20 Equity Fund. JB Were retains an option to invest an additional $2.6 million= =20 in the next 12 months. Existing investor Saltbush Capital did not participa= te=20 in this round. Bernard Stanton, executive director of JBWere Private Equity= =20 Fund, joins the board of directors as the sixth member. Funds will be used = to=20 expand product distribution as the company targets the U.S., Europe, and=20 Asia. Prior to this round Reinhardt had raised $1.3 million. =09=09http://www.reino.com.au =09=09 =09=09 =09=09Supply Chain Firm SeeCommerce Raises $27 Million Series E =09=09 mail? top =09=09 =09=09 PALO ALTO, Calif. (VENTUREWIRE) -- SeeCommerce, a provider of supply= -chain=20 performance management and improvement applications, announced it has close= d=20 its Series E round at $27.4 million. New investor Amerindo Investment=20 Advisors led the round, which included previous investors Insight Capital= =20 Partners, Integral Capital Partners, Voyager Capital, Munder Capital=20 Management Altamira Financial Services, SunAmerica Ventures, Task Holdings,= =20 Telsoft Ventures and Sierra Ventures. Siebel Systems, NetMarket Partners, a= nd=20 Charter Growth Capital also participated in the round as new investors. Jim= =20 Dorst, SeeCommerce's chief financial officer, said the company's valuation= =20 increased by 50% from the previous round, and is now over $150 million. Mr.= =20 Dorst said the funding is expected to last until the second quarter of 2002= ,=20 when SeeCommerce turns cash-flow positive. The bulk of this financing was= =20 raised in February, but the company kept the round open for strategic=20 financing, Mr. Dorst explained. He said the fundi! ng is earmarked for=20 general operations and to further expand business around the world. The=20 company, which has raised $66 million in funding to date, also plans to=20 develop new business applications. Mr. Dorst said that if market conditions= =20 are favorable, SeeCommerce will seek an IPO during the second half of next= =20 year. SeeCommerce currently employs about 125 people, but plans to steadily= =20 increase its workforce to about 175 by year's end, Mr. Dorst said. =20 =09=09http://www.seecommerce.com =09=09 =09=09 =09=09Zinio Systems Closes $5M Series B Led by NEA =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Zinio Systems, which develops a conte= nt=20 delivery system that enables magazines to be distributed over the Internet= =20 and read in their print-layout forms, announced it has closed more than $5= =20 million in Series B financing. New investor New Enterprise Associates led t= he=20 round, with participation from additional new investors Odyssey Capital and= =20 IDEO Ventures. Stewart Alsop, general partner at NEA, joins the board, as= =20 does outside director Mike Edelhart; there are four directors in total. In= =20 February 2001 the company raised $2 million from undisclosed strategic=20 investors and individuals. =09=09http://www.zinio.com =09=09 =09=09 =09=09E-Mail Management Service Akio Solutions Raises $3 Million =09=09 mail? top =09=09 =09=09 PARIS (VENTUREWIRE) -- Akio Solutions, a provider of corporate e-mai= l=20 management, said it raised FRF 23 million ($3 million) in its latest round = of=20 funding. The round was funded by previous investors 3i Technology, Banexi= =20 Ventures, and Innovacom. In January, 2000, Akio Solutions raised FRF 26=20 million ($3.4 million) from the same group of investors. The company has=20 operations in England, France, and Germany. The firm's customers include a= =20 subsidiary of French large-scale distribution firm, Carrefours Jardin, and= =20 Sofinco, a subsidiary of Credit Agricole Bank Group.=20 =09=09http://www.akio-solutions.com =09=09 =09=09 =09=09Antrim Design Systems Caps $11 Million in Series D =09=09 mail? top =09=09 =09=09 SCOTTS VALLEY, Calif. (VENTUREWIRE) -- Antrim Design Systems, which = provides=20 electronic data automation software for semiconductor chips, said it has=20 closed $11 million in a round of Series D financing. New investor iVisionar= y=20 Fund lead the round, with participation from other new investors Mitsubishi= =20 and Matsushita, and all existing investors -- Brentwood Venture Capital,=20 Goldman Sachs, and the Intel 64 Fund. A representative from the round will = be=20 appointed to the sixth seat on the board of directors. Post-money valuation= =20 increased from that of the previous round. Funds will be used primarily for= =20 research and development. The company expects to become cash flow positive = by=20 the third or fourth quarter this year. To date Antrim has raised $72 millio= n. =09=09http://www.antrim.com =09=09 =09=09 =09=09NewMarkets Raises $7.5M in Series F Funds =09=09 mail? top =09=09 =09=09 SAN MATEO, Calif. (VENTUREWIRE) -- NewMarkets International, which d= evelops=20 technology for international e-payments through its foreign currency exchan= ge=20 Web site FXWeb, said it has received commitments of approximately $7.5=20 million in its Series F round of funding from Quantam Venture Partners and= =20 individual investors. NewMarkets said it plans on closing the Series F roun= d=20 by the end of June with $15 million to $25 million. NewMarkets said it is= =20 currently in discussions with six to 12 international and U.S. investors to= =20 participate in the round. The company said the funding would be used as=20 operating and security capital. Prior to the Series F round, NewMarkets=20 raised $28.8 million from Accel Partners, Bay Partners, Charter Growth=20 Capital, Draper Fisher Jurvetson, Jafco, Menlo Ventures, Softbank, Softbank= =20 Technology Ventures, and Technology Crossover Ventures. =20 =09=09http://www.sonnet-financial.com =09=09 =09=09 =09=09 bad news=20 =09=09? =09=09AgWeb Discloses Staff Cuts =09=09 mail? top =09=09 =09=09 KING OF PRUSSIA, Pa. (VENTUREWIRE) -- AgWeb.com, a business-to-busi= ness=20 commerce and content site serving the agricultural market, told VentureWire= =20 that it cut 20 employees, or 36% of its staff due to a lack of commercial= =20 revenue from its satellite information service, which is being eliminated.= =20 The cuts, which took place in March, occurred in AgWeb.com's Des Moines, Io= wa=20 office and were concentrated in customer service, IT, and administrative=20 positions related to the satellite division. All the laid off employees=20 received severance. Eight employees in the editorial department remain in t= he=20 Iowa office, and 27 people are employed in AgWeb.com's King of Prussia=20 headquarters. The company said it was currently hiring people for its=20 nationwide sales force. AgWeb.com also said it plans on being profitable in= =20 the fourth quarter of this year. In addition, AgWeb.com said discussions a= re=20 underway to acquire other venture-backed firms in its niche and expects to= =20 complete one such acquisition by the end of the yea! r. AgWeb.com said it h= as=20 no plans to seek additional funding. In January 2000 AgWeb.com launched wit= h=20 $100 million from Farm Journal, Madison Dearborn Partners, and Safeguard=20 Scientifics. =20 =09=09http://www.agweb.com =09=09 =09=09 =09=09Online Construction Marketplace Ironmax Cuts 30% of Staff =09=09 mail? top =09=09 =09=09 LOUISVILLE, Ky. (VENTUREWIRE) -- Ironmax, an online marketplace for = the=20 construction equipment industry, said it laid off approximately 30% of its= =20 staff. A company spokesperson, who would not disclose the current staff=20 number, said the cuts mainly affected those in the sales and marketing=20 departments. The company's strategic partners, Primedia (which holds an=20 equity stake in the company) and McGraw Hill now serve as Ironmax=20 distribution channels. "But it was also to execute an alignment with what's= =20 going on in the marketplace and the economy and to trim to the current sale= s=20 level and funding environment," said the spokesperson. "It's important to d= o=20 what's right at the right time. It's the best thing for proactive=20 management." Ironmax raised $10 million in its Series A round of funding i= n=20 April 2000 from CMGI@Ventures, Chrysalis Ventures, Iceberg Ventures, and=20 Prosperitas Investment Partners. The spokesperson would not comment on=20 whether or not the company would seek another round of fu! nding. =20 =09=09http://www.ironmax.com =09=09 =09=09 =09=09Rx.com No Longer Filling Prescriptions =09=09 mail? top =09=09 =09=09 AUSTIN, Texas (VENTUREWIRE) -- Rx.com, which provides pharmacy items= and=20 health information online, has ceased day-to-day operations and is no longe= r=20 filling prescriptions. An operator for the company's customer service=20 department confirmed Rx.com had laid off employees from several departments= ,=20 but did not know the precise amount. The operator said that the company's= =20 annoucement came with no explanation of how long the cessation would last o= r=20 if the company would inevitably close down. Rx.com's Web site now directs a= ll=20 activity to its help line. The company's executives could not be reached fo= r=20 comment. In May 2000, Alliance UniChem, a publicly traded European retail= =20 pharmacy company, invested an undisclosed amount of money in the company. I= n=20 July 1999, CBS entered an agreement with Rx.com for $37.5 million worth of= =20 advertising and promotion deals over a four-year period. CBS received 700,0= 00=20 common shares of the company, or an 20% stake, as a result of the deal. =09=09http://www.rx.com =09=09 =09=09 =09=09 new products=20 =09=09? =09=09AuctioNet.com Changes Name to Realm Connect =09=09 mail? top =09=09 =09=09 REDWOOD CITY, Calif. (VENTUREWIRE) -- AuctioNet.com, which operates = a=20 private label auction network, said it changed its name to Realm Connect to= =20 reflect its growth from auction aggregator to a network of online=20 marketplaces. Nuri Otus is the company's president and CEO. Realm Connect i= s=20 backed by Ambex Venture Group, AP Venture Partners I, B3 Ventures, Clayton,= =20 Dubilier & Rice, Empire Ventures, Garage.com, Global Virtual Accelerator,= =20 Oracle Corp., and ZDNet. The board of directors is comprised of Michela=20 O'Connor Abrams, an executive at Imagine Media; Bruce M. Lange, senior vice= =20 president, treasuer and head of worldwide real estate of Oracle; Chong-Moon= =20 Lee, chairman and CEO of AmBex Venture Group; Samuel S. Lee, managing partn= er=20 of Bluehawk Venture Partners; and R. Nuri Otus, CEO of AuctioNet. =20 =09=09http://www.realmconnect.com =09=09 =09=09 =09=09Voice and Data Services Firm Nextira Federal Launches =09=09 mail? top =09=09 =09=09 FAIRFAX, Va. (VENTUREWIRE) -- Nextira Federal, a company formed from= the=20 consolidation of the federal business components of Milgo Solutions, a=20 provider of voice and data services; TimePlex Federal Systems, which provid= es=20 networking services to the federal government; and the federal services=20 division of Nextira, (formerly Williams Communications Solutions) said that= =20 it has offically launched operations. The new company will provide converge= d=20 voice and data services to the civilian and defense agencies of the federal= =20 government. Stephen L. Snyder, who was the president and CEO of Timeplex= =20 Federal Systems, has been named Nextira Federal's president. Nextira Federa= l=20 is backed by Platinum Equity Holdings, a privately held company that acquir= es=20 and operates international technology organizations and service companies.= =20 =09=09http://www.nextirafederal.com =09=09 =09=09 =09=09 m&a=20 =09=09? =09=09Net Bookmarking Tech Firm Blink.com Buys BookmarksPlus =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- Blink.com, which provides free online book= mark=20 technology, announced it has acquired its rival BookmarksPlus.com, for an= =20 undisclosed amount. A spokeswoman for Blink.com said the company will not= =20 retain any of BookmarksPlus.com's employees. The BookmarksPlus Web site is= =20 now linked to Blink.com. Last year, Blink acquired CoolSync and BookmarkBox= ,=20 two of its rivals in the online bookmarking market. Earlier this month, the= =20 company appointed former Doubleclick vice president and general manager, El= i=20 Chaflin, as its new CEO. Blink's backers include Inabata, Jafco, Palisade= =20 Capital Management, Sandler Capital Management, Sumitomo, and Tudor=20 Investment. =20 =09=09http://www.blink.com =09=09 =09=09 =09=09Everstream Acquires The MusicBooth in $10M Stock Deal =09=09 mail? top =09=09 =09=09 CLEVELAND (VENTUREWIRE) -- everstream, which provides software for a= udio and=20 video advertising, said it has acquired AdAcoustics and its parent company= =20 The MusicBooth, an online advertising services and technology company, in a= n=20 all-stock transaction worth $10 million. The combined entity has a valuatio= n=20 of $40 million. The deal was valued based on funds raised for The MusicBoot= h.=20 Law firm Benesch and Fiedlander advised everstream, while Mintz and Levitz= =20 advised The MusicBooth. Deloitte and Touche served as accountants. Two of= =20 nine employees from The MusicBooth will join everstream. AdAcoustics=20 president Robert Wolfe will join the board of directors and serve as=20 executive vice president and general counsel, while AdAcoustics board membe= r=20 Burt Manning will join everstream's board. The combined company will mainta= in=20 offices in Cleveland and in New York. everstream has raised $8.54 million= =20 from Knight Ridder Venture, Gannet, Pulitzer, and CapStar Partners. The=20 MusicBooth has raised more than $2 milli! on from CRM Ventures and=20 Excite@Home. =09=09http://www.everstream.com =09=09http://www.musicbooth.com =09=09 =09=09 =09=09Primus Gets Search Engine AnswerLogic in $3M Stock Swap=20 =09=09mail? top =09=09 =09=09 SEATTLE (VENTUREWIRE) -- Primus, a publicly traded provider of knowl= edge=20 enabling software for customer relationship management (CRM) applications,= =20 said it acquired AnswerLogic, which develops answer engine CRM software=20 utilizing natural language processes, for 750,000 shares of common stock in= =20 Primus worth approximately $3 million. Primus said that when the deal is=20 finalized, AnswerLogic would become a wholly owned subsidiary and would=20 continue to employ its staff and operate out of its Washington office.=20 AnswerLogic's CEO Lou Pugliese will continue with the company through the= =20 transition period. AnswerLogic's founders Jamie Hamilton and Paul Jacobs wi= ll=20 have executive positions with Primus. AnswerLogic had received $12 million = in=20 funding from CMGI@Ventures, which had invested $9 million, Novak Biddle=20 Venture Partners, which had invested $2.6 million, and individual investors= .=20 Primus received legal counsel from the Seattle law firm Preston, Gates &=20 Ellis. =20 =09=09http://www.answerlogic.com =09=09http://www.primus.com =09=09 =09=09 =09=09MindArrow Systems Buys Control Commerce in Stock Deal =09=09 mail? top =09=09 =09=09 ALISO VIEJO, Calif. (VENTUREWIRE) -- MindArrow Systems, a publicly-t= raded=20 company that provides direct digital marketing software and services, said = it=20 has agreed to acquire New York-based Control Commerce, a provider of the=20 "Virtual Kiosk" e-commerce system. Details of the all-stock deal were not= =20 disclosed; the acquisition will close within a few weeks. The deal was valu= ed=20 based on Control Commerce's discounted cash flow, patents, and sales. Contr= ol=20 Commerce had ceased marketing in October in an effort to focus on finding a= =20 buyer. At the time of the acquisition, the company had $1.4 million in cash= .=20 Three employees from Control Commerce, including co-founder Eric Wolffe, wi= ll=20 join MindArrow; Mr. Wolffe will serve as vice president of business=20 development. MindArrow will not retain Control Commerce's New York or San= =20 Diego offices. Law firm O'Melveney and Myers advised MindArrow in the=20 acquisition. Drinker, Biddle, and Shanley advised Control Commerce, and=20 Business Development helped the acquired com! pany find a buyer. Control=20 Commerce had raised $5.5 million from ColumbusNewport, Guthy-Renker, Hudson= =20 Venture Partners, MacAndrews and Forbes, Millennium Hanson, Waterview=20 Partners, and William E. Simon and Sons. =09=09http://www.controlcommerce.com =09=09 =09=09 =09=09 new directors=20 =09=09? =09=09iVita Names Landmark Graphics President and CEO to Board =09=09 mail? top =09=09 =09=09 HOUSTON (VENTUREWIRE) -- iVita, which provides applications for perf= ormance=20 management of fixed-asset portfolios, said John Gibson, current president a= nd=20 CEO of Landmark Graphics, has become the sixth member of its board of=20 directors. Other board members include Vic Mahadevan, chairman and CEO;=20 Andrew W. Kahn, managing director and partner of Access Technology Partners= ;=20 Robert W. Stearns, managing director of Sternhill Partners; Ken DeAngelis,= =20 general partner of Austin Ventures; and Somesh Singh, president and COO of= =20 iVita. Investors in iVita are Austin Ventures, Information Access Technolog= y,=20 Morgan Stanley Dean Witter Private Equity, and Sternhill Partners. The=20 company is advised by the Houston office of law firm Baker Botts. =20 =09=09http://www.ivita.com =09=09 =09=09 =09=09Armando Geday Joins Chameleon Board of Directors =09=09 mail? top =09=09 =09=09 SAN JOSE, Calif. (VENTUREWIRE) -- Chameleon Systems, a fabless semic= onductor=20 company, said Armando Geday has become the sixth member of the board of=20 directors. Mr. Geday is the current board member, president, and CEO of=20 GlobeSpan. Chameleon designs, markets, and sells programmable=20 system-on-a-chip applications for the communications electronics markets. M= r.=20 Geday joins Charles Cump, Chameleon's chairman and vice president of sales;= =20 Charles Fox, president and CEO; Sam Lee, general partner of Infinity Capita= l;=20 Russ Irwin, general partner at Convergence Partners; and Gary Little, gener= al=20 partner of Morgenthaler Ventures. Chameleon is backed by 3i Group, Argo=20 Global Capital, Athena Technology Ventures, Bayview 2000, Convergence=20 Partners, Crossroads Ventures, Dain Rauscher Wessels, GTG Ventures,=20 Information Technology Ventures, Macnica, Merrill Lynch Kecalp, Morgan=20 Stanley Dean Witter Venture Partners, Morgenthaler Ventures, Synopsys, U.S.= =20 Bancorp Piper Jaffray Ventures, and WK Technology Fund. =09=09http://www.chameleonsystems.com =09=09 =09=09 =09=09 new people=20 =09=09? =09=09Colorado MicroDisplay Changes Name, Juggles Execs =09=09 mail? top =09=09 =09=09 BOULDER, Colo. (VENTUREWIRE) -- Colorado MicroDisplay, which develop= s=20 high-resolution, full-color microdisplay applications, said it has changed= =20 its name to Zight. The company said that the name change reflects its growt= h=20 and not a business model shift. Zight also shifted several members of its= =20 management team. Co-founder and former CEO Mark Willner will become chairma= n=20 of the board and chief strategy officer. He replaces co-founder Bob Epstein= ,=20 who will retain his seat on the board. The company's former president and C= OO=20 Kennedy Roberts replaces Mr. Willner in the CEO position and will remain=20 president. The company said the COO position will remain open. New board=20 members were also announced. Sherel Horsley, former key business and=20 marketing executive of the DLP Product Group at Texas Instruments, and Stua= rt=20 Chapman, director at 3i -- who has been an observer of the board for the la= st=20 nine months -- become the eighth and ninth board members. The company's=20 backers are GE Capital, Texas Instruments,! Intel, InFocus, Granite Venture= s,=20 Mustang Ventures Fund, Vulcan Ventures, 3i, Telesystems-Argo Global Capital= ,=20 Sequel Venture Partners, and Polaroid. The company was founded in July 1996= =20 by Mr. Epstein, Mr. Willner, and Douglas McKnight and closed its fourth rou= nd=20 of funding in November 2000 at $34.3 million. =20 =09=09http://www.zight.com =09=09 =09=09 =09=09Icarian Hires Ed Koepfler as New President and CEO =09=09 mail? top =09=09 =09=09 SUNNYVALE, Calif. (VENTUREWIRE) -- Icarian, which provides innovativ= e hosted=20 workforce management applications, said it appointed Ed Koepfler as its new= =20 president and CEO. He replaces Doug Merritt, who founded the company in 199= 7=20 and has become vice president of sales. Its investors include Fidelity=20 Ventures, Granite Ventures, Information Access Technology, J.P. Morgan H&Q,= =20 Kleiner Perkins Caufield & Byers, Partech International, Patricof & Co.=20 Ventures, Presidio Venture Partners, Sands Brothers & Co., TMP Worldwide, V= an=20 Wagoner Capital Management, and Wheatley Partners.=20 =09=09 =09=09 =09=09Travel Site Viator Promotes COO Jan Knox to President =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Viator, a provider of travel destinat= ion=20 content, technology, and distribution services, announced the promotion of= =20 Jan Knox to the company's first president. Ms. Knox has been with the compa= ny=20 for two years and most recently served as the company's chief operating=20 officer in Sydney, Australia and will relocate to San Francisco. Viator is= =20 backed by Australia Technology Group, Technology Venture Partners,=20 Travelocity, Worldspan, and individual investors.=20 =09=09http://www.viator.com =09=09 =09=09 =09=09IKANO Appoints New President and Chief Operating Officer =09=09 mail? top =09=09 =09=09 SALT LAKE CITY (VENTUREWIRE) -- IKANO Communications, a provider of = Internet=20 networking infrastructure and branded services, said it has appointed Garth= =20 Howard as president and chief operating officer. Mr. Howard, who most=20 recently served as president of custom solutions for Convergys' customer=20 management group, replaces founder Henry Smith as president. Mr. Smith will= =20 continue on as the company's CEO. As president and COO, Mr. Howard will=20 manage the strategic direction and operations of IKANO's sales, marketing,= =20 finance, customer relationship management, creative, and call center office= s.=20 In January 2000, the company secured $11.5 million from Insight Capital=20 Partners and Chicago Venture Partners. =09=09http://www.ikano.com =09=09 =09=09 =09=09MRM Fulfillment Appoints New President & CEO =09=09 mail? top =09=09 =09=09 RESEARCH TRIANGLE PARK, N.C. (VENTUREWIRE) -- MRM Fulfillment, a pro= vider of=20 order management and fulfillment services to marketing organizations,=20 announced the appointment of Antony Francis as president and CEO. Mr.=20 Francis, who most recently served as vice president of global operations fo= r=20 publicly traded online marketplace SciQuest.com, replaces founder Ed=20 Hathaway. Mr. Hathaway will continue with the company as chairman and vice= =20 president, business development and operations. Currently backed by=20 individuals, MRM Fulfillment is actively seeking between $3 million and $5= =20 million in Series A financing, to close by the third quarter of this year.= =20 =09=09http://www.mrmfulfillment.com =09=09 =09=09 =09=09DigitalMoJo Announces Thomas Joseph As New Chairman & CEO =09=09 mail? top =09=09 =09=09 ATLANTA (VENTUREWIRE) -- DigitalMoJo, a provider of risk management = and=20 information security services, said that it appointed Thomas Joseph as chie= f=20 executive officer and chairman of the board. Mr. Joseph replaces Robert=20 McMillon, who will continue with the company as chief strategist and board= =20 member. Prior to joining DigitalMojo, Mr. Joseph served as vice president a= nd=20 general manager of North American operations for publicly traded network=20 infrastructure consulting firm Predictive Systems. DigitalMoJo's five-membe= r=20 board of direction includes Teddy Kaplan and Gavin Ray of Meyer Duffy=20 Ventures. To date, DigitalMoJo has raised $4 million in one round from Meye= r=20 Duffy Ventures, Predictive Systems, Formational Ventures, and unnamed=20 individuals. The company is currently seeking an undisclosed amount of seco= nd=20 round funding, to close in June.=20 =09=09http://www.digitalmojo.com =09=09 =09=09 =09=09Digi-Block Taps Ex Pres of Ziff-Davis Education as CEO =09=09 mail? top =09=09 =09=09 WATERTOWN, Mass. (VENTUREWIRE) -- Digi-Block, which develops mathema= tics=20 blocks for elementary schools, announced Bill Rosenthal will join as CEO on= =20 June 1, replacing Patricia Reinhardt, who is leaving the company for person= al=20 reasons. He was introduced to the company by executive search firm Christia= n=20 & Timbers. Mr. Rosenthal also takes Mr. Reinhardt's seat on the board, whic= h=20 totals seven directors. Prior to Digi-Block, Mr. Rosenthal served as=20 president of The Kaplan colleges, a division of Kaplan, and as president of= =20 Ziff-Davis Education. The company is backed by KKR and Grace Capital. =20 =09=09http://www.digi-block.com =09=09 =09=09 =09=09 vc fund news=20 =09=09? =09=09University of Pittsburgh, Redleaf Form Tech Funding Program =09=09 mail? top =09=09 =09=09 PITTSBURGH (VENTUREWIRE) -- The University of Pittsburgh and Redleaf= Group,=20 a technology operating company that provides services and capital for very= =20 early stage technology companies, announced plans to create Oak Leaf=20 Networks, a new program that will provide capital, services, and=20 infrastructure to start-ups in southwestern Pennsylvania and northern West= =20 Virginia. RedLeaf Group said the new program will seek to commercialize new= =20 ideas at the university, as well as fund emerging technologies in the Great= er=20 Delaware region. Oak Leaf said it is particularly interested in information= =20 technologies, Internet-related technologies, and biotechnology applications= =20 such as bio-informatics and drug discovery software. Redleaf will manage th= e=20 program and provide capital through its early-stage venture fund, while the= =20 University of Pittsburgh will facilitate the formation of new ventures base= d=20 on University technology. Oak Leaf Networks will be located in the Oakland= =20 neighborhood of Pittsburgh, near the Pitt camp! us. Mark Coticchia, a senio= r=20 director at RedLeaf who handles the technology transfer program, said Oak= =20 Leaf expects to complete two new deals by the end of July. RedLeaf has also= =20 partnered with the University of Pennsylvania to form another accelerator= =20 program, known as PennNetworks. About two weeks ago, RedLeaf announced it i= s=20 financing the launch of a network optimization company called 61C Networks,= =20 which was founded by a graduate student at Carnigie Mellon. Mike Nelson, a= =20 managing director at RedLeaf, is also responsible for the execution of this= =20 program, along with Chris Capelli, who heads the University of Pittsburgh's= =20 technology development and research program. =20 =09=09http://www.redleaf.com =09=09 =09=09 =09=09 vc personnel=20 =09=09? =09=09Baroness Sarah Hogg Set to Become 3i Chair in January =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- 3i announced the retirement of George Russel= l as=20 non-executive chairman of its board of directors, effective December 31,=20 2001. Upon Mr. Russell's retirement Baroness Sarah Hogg will become the new= =20 non-executive chairman of the board of directors, which now has 12 director= s.=20 Ms. Hogg is currently chairman of 3i's audit and compliance committee and h= as=20 been a non-executive director at 3i since 1997. She is also a chairman of= =20 Frontier Economics and Foreign & Colonial Smaller Companies, a director of= =20 GKN, Martin Currie Portfolio Investment Trust, P&O Princess Cruises, a=20 Governor of the BBC, and a member of the House of Lords select committee on= =20 economic affairs.=20 =09=09http://www.3i.com =09=09 =09=09 =09=09Dekkers Davidson Joins Charles River as Exec in Residence =09=09 mail? top =09=09 =09=09 WALTHAM, Mass. (VENTUREWIRE) -- Charles River Ventures (CRV), which = closed=20 its Charles River Partnership XI fund in January at $1.2 billion, said it= =20 hired Dekkers Davidson as its executive in residence. Mr. Davidson will wor= k=20 with entrepreneurs on how to effectively run start-up companies. Prior to= =20 joining CRV, he was the president of the Ontario division of Rogers Cantel,= =20 Canada's largest wireless company. CRV's portfolio includes Brix Networks,= =20 Storigen Systems, Guardent, TalkingNets, InteQ, and Upromise.=20 =09=09http://www.crv.com =09=09 =09=09 =09=09Growth Capital Names New Executive Vice President =09=09 mail? top =09=09 =09=09 LANCASTER, Pa. (VENTUREWIRE) -- Growth Capital, a private venture ca= pital=20 firm, announced it has appointed Richard A. Bidgood to head its venture=20 capital group as an executive vice president. Mr. Bidgood will be responsib= le=20 for Growth Capital's venture capital fund, as well as for its business=20 management and consulting activities. He will report to Jeremy Freakins,=20 Growth Capital's chairman and CEO. Before joining Growth Capital, Mr. Bidgo= od=20 was vice president and senior portfolio manager at First Union National Ban= k,=20 where he worked since 1983.=20 =09=09http://www.growthcapitalusa.com =09=09 =09=09 =09=09 vw corrections=20 =09=09? =09=09Broadview =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- An item in Friday's VentureWire incorrectl= y cited=20 Broadview Associates as an investor in Red Herring. Broadview Capital=20 Partners backs Red Herring.=20 =09=09 =09=09 =09=09Porivo Technologies =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- An item in Friday's VentureWire about the= =20 appointment of Gordon Kass as president and CEO of Porivo Technologies=20 contained an editing error that made his background unclear. He formerly=20 served as executive vice president and chief technology officer at NBC=20 Internet. The story also misspelled the name of the company's co-founder an= d=20 vice president of strategic development Will Holmes. =09=09 =09=09 =09=09company index =09=09top =09=09 =09=09no companies yet indexed for this issue =09=09 =09=09 =09=09 =09=09Free Trial! Hoover's Online Business Subscription =09=09Sign up now for a free one-week Business Subscription to =09=09Hoover's Online and boost your business intelligence. With =09=09coverage of more than 12 million private and public =09=09companies worldwide, Hoover's Online is the ultimate =09=09resource for in-depth business information, including =09=09company and industry profiles, IPO pricings and filings, =09=09news, financial data, officers, competitors and more! =09=09Sign up today for your free=20 trial.http://www.hoovers.com/hoov/freetrial/vwire.html =09=09 =09=09 =09=09 =09=09investor index =09=09top =09=09 =09=09no investors yet indexed for this issue =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?
|