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?=09VentureWire =09Wednesday, June 06, 2001=09=09? ?=09CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND=09VentureW= ire Index =09=09'VentureWire =09=09today: 679.6 ? +2.16%=09? ? =09=09 =09=09 =09=09top stories =09=09 =09=09 =01=07 Napster Closes Licensing Deal With MusicNet =09=09 =01=07 CEO Of Comdisco Ventures Resigns As Unit Winds Down =09=09 =01=07 Charter Growth Capital Changes Name to Focus Ventures =09=09 =01=07 Movaz Signs Up $62M Equity and Debt in Second Round=20 =09=09 =09=09 =09=09TODAY'S FEATURES=20 =09=09Alien Technology in Talks for Fortune 500 Backing =09=09By Michelle Tsai =09=09Alien Technology, which has developed a novel technology for packagin= g=20 integrated circuits, has been holding talks with Fortune 500 products and= =20 packaging companies as it looks for strategic partners as part of its=20 upcoming $40 million round, according to company CFO John Hemingway. more<< =09=09UPCOMING EVENTS =09=09June 26-27: San Francisco =09=09Enterprise Outlook 2001 =09=09Over $2 billion invested in enterprise software so far this year! Cli= ck here=20 and hear Dick Shaffer's interview with ON24 discussing analysis of this=20 industry and previewing the upcoming Enterprise Outlook. Only 3 weeks until= =20 Enterprise Outlook, so register today!=20 =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 =09=09 =09=09 =09=09new money =09=09 =09=09 =01=07 InsureZone Secures $8.2M Round One from Buena Venture =09=09 =01=07 M&A Research Firm Mergermarket Raises $4.2M Round One =09=09 =01=07 Motorola Makes Strategic Investment in Epicentric =09=09 =01=07 Professional Sourcing Firm Efficio Gets $1M in Seed Funding =09=09 =01=07 Clustra Gets $3M in Series B From Sun Microsystems =09=09 =01=07 Dutch Drug Discovery Firm Screentec Gets $5.5M Round One =09=09 =01=07 Medical Devices Firm AtriCure Gets $5 Million Round One =09=09 =01=07 MEMS Devices Manufacturer Verimetra Closes Series A =09=09 =01=07 Networking Firm OmniCluster Gets $4M More in Series A =09=09 =01=07 e-Business Provider DataCert Raises $5 Million Series B =09=09 =01=07 Project Time & Cost Raises Second Round Funding =09=09 =01=07 Clickmarks Lands Series C Funding from Protege =09=09 =01=07 Net Infrastructure Firm Urbanpixel Closes Series B =09=09 =01=07 Pirelli Invests $12M in Network Equipment Firm Alloptic =09=09 =01=07 Vibration Technology Stirs Up $1.4M in Round Three =09=09 =01=07 e-Commerce Solutions Raises $4 Million Fifth Round =09=09 =01=07 GotMarketing Gets $3 Million in Round Three =09=09 =01=07 Mobile App Firm FolloWAP Gets $2M from Mustang Ventures =09=09 =09=09 =09=09bad news =09=09 =09=09 =01=07 E-Commerce Services Firm WhatsHotNow.com Closes =09=09 =01=07 B2B E-Commerce Services Firm Hologix Shutting Down =09=09 =01=07 Streaming Media Ad Services Firm Hiwire Cuts 17 =09=09 =01=07 With No Buyer in Sight, TerraShare Shuts Down =09=09 =01=07 Ditto.com Ceases Operations, Plans To Sell Remaining Assets =09=09 =01=07 The Dock Shuts Down After Failing to Find Funding =09=09 =01=07 MetaTV Acknowledges Charges Against CEO =09=09 =09=09 =09=09new products =09=09 =09=09 =01=07 eToll Charges Ahead Under New Name FastForward =09=09 =01=07 AmEx & Others Launch Intranet Portal Firm Workadia =20 =09=09 =09=09 =09=09m&a =09=09 =09=09 =01=07 Messaging SoftwareFirm SetNet Buys Selfswitch =09=09 =01=07 Torque Systems Acquires Graphics ISP Digital Art Exchange =09=09 =01=07 Omnicom Group Acquires Consulting Firm Wolff Olins =09=09 =01=07 Employment Wizard Merges with CareerSite =09=09 =09=09 =09=09new directors =09=09 =09=09 =01=07 AT&T Broadband Exec Joins Into Networks Board =09=09 =01=07 Proceler Appoints Informatica Head to Board =09=09 =09=09 =09=09new people =09=09 =09=09 =01=07 Blackboard Names Ex-Prometric Thomson CEO as Pres., COO =20 =09=09=01=07 Alerts Hires Within; Replaces Co-Founder in Pres. & CEO Role =09=09 =01=07 Transaction Monitoring Provider Xtremesoft Appoints New Head =09=09 =01=07 Ellipsus Systems Names Connect Things Execs to Top Posts =09=09 =01=07 Global Metro Promotes from Within for First CEO Appointment =09=09 =09=09 =09=09vc personnel =09=09 =09=09 =01=07 Conning Capital Names Ex-Progressive Exec as Partner =09=09 =01=07 Newbury Ventures Adds Two Venture Partners =09=09 =09=09 =09=09vw corrections =09=09 =09=09 =01=07 Optium =09=09 =01=07 iWitness =09=09 =09=09 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW= =20 DIRECTORS... NEW PEOPLE... VC PERSONNEL... VW CORRECTIONS =09=09 =09=09 =09=09top =09=09 =09=09 =09=09This year to date, over $750 million has been =09=09invested in private equity deals in the financial =09=09services sector (source: VentureWire). In this age =09=09of liquidation preference provisions and =09=09retroactive repricings, that's a strong =09=09performance. Financial Services Outlook allows =09=09you a unique insight into where the investment strength =09=09in this market lies, and which private companies are leading =09=09the strongest sectors of the financial technology =09=09and solutions market. =09=09 =09=09Register before June 19 and SAVE=20 $100:http://www.financialservicesoutlook.com/register.asp =09=09 =09=09 =09=09 =09=09 top stories=20 =09=09? =09=09Napster Closes Licensing Deal With MusicNet =09=09 mail? top =09=09 =09=09 SEATTLE (VENTUREWIRE) -- Napster, the music file-sharing service, ha= s said=20 it will join the digital distribution platform, MusicNet, an online=20 subscription music venture backed by RealNetworks as well as major record= =20 labels AOL Time Warner, EMI Group, and Bertelsmann. Through the agreement= =20 MusicNet will license its technology and music catalog to Napster which wil= l=20 sell the music as a subscription-based service under its own brand. MusicNe= t,=20 which will launch later this year, offers the music catalogs of its record= =20 label backers. Napster still must satisfy the legal and security requiremen= ts=20 imposed on it after losing a copyright infringement suit earlier this year.= =20 AOL Time Warner and EMI were among the parties that brought the suit. Napst= er=20 is backed by investors including Bertelsmann and Hummer Winblad Venture=20 Partners. =09=09http://www.musicnet.com =09=09http://www.napster.com =09=09 =09=09 =09=09CEO Of Comdisco Ventures Resigns As Unit Winds Down =09=09 mail? top =09=09 =09=09 ROSEMONT, Ill. (VENTUREWIRE) -- James P. Labe, the CEO of Comdisco V= entures,=20 has resigned, as the troubled company's venture capital unit apparently win= ds=20 down, VentureWire has learned. A spokesperson for the Rosemont, Ill.-based= =20 parent company confirmed that Mr. Labe left within the last month, as well = as=20 earlier reports of layoffs within Comdisco Ventures. Mr. Labe, who served= =20 with Equitec Financial Group before joining Comdisco, founded Comdisco=20 Ventures in 1987. His resignation comes as the parent technology services= =20 firm is undergoing a large restructuring, including layoffs of up to 10% of= =20 its North American workforce, and has retained McKinsey & Co. and Goldman= =20 Sachs to help it evaluate its future. Most of those layoffs have occurred a= t=20 its corporate headquarters. Comdisco also cut 15% of Comdisco Ventures'=20 staff, which was first reported by the Chicago Tribune. The venture unit=20 stopped making new investments in January. When contacted, Comdisco Venture= s=20 said it was focused on its current portfolio and declined to comment furthe= r,=20 saying it would be =01&inappropriate=018 to do so. Comdisco at one time con= sidered=20 issuing a separate tracking stock for its venture unit, which began as a=20 lease financing arm but moved heavily into venture capital investing in=20 recent years. Comdisco reported an operating loss of $8 million and a net= =20 loss of $54 million for its second quarter. It also had to write off severa= l=20 investments from the venture unit. =01&We believe the charges taken with re= spect=20 to Comdisco Ventures were necessary given the recent and rapid decline in t= he=20 economic environment for venture capital-backed companies,=018 the company = said=20 in a statement last month. Comdisco Ventures portfolio companies include=20 Everypath, a San Jose, Calif. company that provides a mobile application=20 platform; Homes.com, a Menlo Park, Calif.-based provider of marketing and= =20 productivity applications for real estate companies that filed for Chapter = 11=20 bankruptcy protection in March; Mobilocity, a New York-based professional= =20 services firm focused on remote computing; Optical Solutions, a Minneapolis= =20 provider of fiber optic voice, video, and data technology; and Pirus=20 Networks, an Acton, Mass.-based IP storage networking company.=20 =09=09http://www.comdisco.com =09=09 =09=09 =09=09Charter Growth Capital Changes Name to Focus Ventures =09=09 mail? top =09=09 =09=09 PALO ALTO, Calif. (VENTUREWIRE) -- Charter Growth Capital, a venture= capital=20 firm that invests in expansion-stage communications and software companies= ,=20 announced it has changed its name to Focus Ventures. The new name=20 differentiates Focus Ventures from Charter Venture Capital, an early-stage= =20 venture capital firm under the holding company Charter Group. Although Focu= s=20 Ventures had no legal relationship with Charter Group as Charter Growth=20 Capital, a spokesperson said the firm had and continues to have a working= =20 relationship with Charter Group. Focus Ventures and Charter Venture Capital= =20 have limited partners in common. Charter Growth Capital has also changed th= e=20 names of its two funds to Focus Ventures I and II. No change in investment= =20 strategy or staff accompanies the name changes. Roughly $200 million of the= =20 $465 million Focus Ventures II fund has been committed, according to genera= l=20 partner, George H. Bischof. Of the 32 companies in the second fund, "severa= l"=20 are poised to go public when market conditions improve, and seven will seek= =20 further financing this year, he said. One dot-com from the fund has shut=20 down. Focus Ventures expects to make between 15 and 25 new investments over= =20 the next 12 months from its second fund, according to Mr. Bischof. Each=20 company typically receives between $7.5 million and $10 million in total. T= he=20 pace of investment at Focus Ventures has slowed to five investments in the= =20 first quarter this year, said Mr. Bischof. In prior quarters the firm did= =20 eight to 10 such deals. The pace will likely slow even more for the second= =20 quarter, but is expected to pick up again in the third quarter, he said. Mr= .=20 Bischof said Focus Ventures would likely be in the market for its third fun= d=20 in early- or mid-2002, but declined to indicate fund size. Focus Ventures= =20 raised $106 million for a first fund in 1997 and a second fund closed in=20 December 1999 at $465 million. The firm has five general partners, four=20 associates, and a finance manager.=20 =09=09http://www.focusventures.com =09=09 =09=09 =09=09Movaz Signs Up $62M Equity and Debt in Second Round=20 =09=09mail? top =09=09 =09=09 NORCROSS, Ga. (VENTUREWIRE) -- Movaz Networks, which develops optica= l switch=20 and routing products, said it closed $62 million in second-round funding,= =20 with $52 million in equity and $10 million in debt financing. Meritech=20 Capital Partners, Menlo Ventures, Oak Investment Partners, Silicon Valley= =20 Bank, and Worldview Technology Partners are providing the equity financing.= =20 Silicon Valley Bank led the debt financing with GATX Ventures. New investor= =20 Oak Investment Partners led the equity round, which also included new=20 investors Meritech and Silicon Valley Bank. Movaz said the funding would be= =20 used for full-scale production of its integrated software package for=20 telecommunications networks. After introducing its product line at the=20 SuperComm conference in Atlanta this week, Movaz plans on commercially=20 launching it in the third quarter. Movax previously raised $30 million in= =20 September 2000 from Menlo Ventures and World Technology Partners.=20 =09=09http://www.movaz.com =09=09 =09=09 =09=09 new money=20 =09=09? =09=09InsureZone Secures $8.2M Round One from Buena Venture =09=09 mail? top =09=09 =09=09 FORT WORTH, Texas (VENTUREWIRE) -- InsureZone, which provides an onl= ine=20 insurance marketplace, said it has secured $8.2 million in first-round=20 funding from Buena Venture Associates. Post-money, InsureZone is valued at= =20 approximately $76 million. About two-thirds of the new funding, or $5.6=20 million, is earmarked for technology development, with the remainder of the= =20 funds dedicated to working capital. President and CEO J. Russell Reid expec= ts=20 the new funds to carry the company to profitability by the fourth quarter o= f=20 this year. InsureZone was launched in April 1999 as a wholly owned subsidia= ry=20 of business-to-business provider Lexica, a portfolio company of Buena Ventu= re=20 Associates. In July 2000 the company merged with insurance broker=20 Higginbotham & Associates and has received operational support in the form = of=20 debt financing from Buena Venture from the time of the merger until this=20 round. InsureZone is currently raising a second round, between $5 million a= nd=20 $10 million, to close by fall. =09=09http://www.insurezone.com =09=09 =09=09 =09=09M&A Research Firm Mergermarket Raises $4.2M Round One =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Mergermarket, an Internet publisher of merge= rs and=20 acquisitions research for advisers and corporations, announced it has raise= d=20 a GBP 3 million ($4.2 million) first round from new investor ProVen Private= =20 Equity and NewMedia Spark, a previous investor. Mergermarket was valued at= =20 $12.1 million post-money in this round, up from $2.8 million when the compa= ny=20 raised $990,000 in seed funding. Mergermarket said it will use the funding = to=20 consolidate its position in Europe, expand U.S. activities, and take=20 advantage of publishing opportunities online and with traditional methods.= =20 Mergermarket, which was founded in January 2000, has 33 employees and=20 operations in the U.K., Germany, and the U.S. Regent Associates, a corporat= e=20 finance adviser for technology companies, advised Mergermarket in this roun= d. =09=09http://www.mergermarket.com =09=09 =09=09 =09=09Motorola Makes Strategic Investment in Epicentric =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Epicentric, a provider of portal-plat= form=20 software and services for e-business networks, said it received an=20 undisclosed "significant" equity investment from Motorola Ventures, the=20 strategic capital arm of Motorola and a customer and partner of Epicentric.= =20 The investment is part of a follow-on to Epicentric's $41 million Series D= =20 round of funding it announced in March. Vincent Fleming, CFO of Epicentric,= =20 said the company will use the funding to support its services and reach=20 profitability by the end of the year. Motorola will receive observer rights= =20 on Epicentric's board of directors. Mr. Fleming said the company will close= =20 its Series D round by the end of the year with under $50 million. Epicentri= c=20 has raised more than $81 million to date from Autodesk Ventures, Bowman=20 Capital Management, Capital Research Management, Chase Capital Partners, Da= in=20 Rauscher Wessels, Essex Investment Management, Information Access Technolog= y,=20 Innovacom, Interactive Minds Ventures, J.P. Morgan Capital, New Vista=20 Capital, Putnam Investments, Reuters, Sandler Capital Management, and U.S.= =20 Bancorp Piper Jaffray Ventures. =09=09http://www.epicentric.com =09=09 =09=09 =09=09Professional Sourcing Firm Efficio Gets $1M in Seed Funding =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Efficio, a professional sourcing network for= =20 nonproduction materials and services and for Internet-based tools to help = =20 midsize and larger corporations reduce operating costs, said it has secured= =20 $1 million in seed funding from Corven Ventures, the investment arm of Corv= en=20 Group. Gautam Singh of Corven will take a seat on Efficio's board of=20 directors. Efficio, which focuses on indirect materials and services such a= s=20 telecommunications, travel, office supplies, and utilities, was founded las= t=20 summer by a team of former A T Keraney senior consultants, and is headed by= =20 CEO Jens Pederson. The company, which has offices in the U.K. and Germany,= =20 said it plans to expand across Europe over the next two years. =09=09http://www.efficio.com =09=09 =09=09 =09=09Clustra Gets $3M in Series B From Sun Microsystems =09=09 mail? top =09=09 =09=09 OAKLAND, Calif. (VENTUREWIRE) -- Clustra Systems, which provides sof= tware=20 database systems, announced it has received $3 million from Sun Microsystem= s=20 as part of Series B funding. With the funding from Sun, the Series B now=20 totals $22 million and post-money valuation is approximately $60 million.= =20 Sun, a new investor, participated in the round under the terms set by Clari= ty=20 Capital. Mustang Ventures, VantagePoint Venture Partners, and Telesystem-Ar= go=20 Global Capital also contributed to the round. Rick Cattell of Sun=20 Microsystems gains an observer seat on the board as a result of the funding= .=20 CEO Gary Ebersole said Series B financing will last into the middle of 2002= .=20 The company will likely raise between $20 million and $30 million in a=20 mezzanine round in the first half of 2002, with an eye toward filing for an= =20 IPO in the first half of 2003, he said. Clustra has raised a total of $32= =20 million from Clarity Capital, Mustang Ventures, Sun Microsystems,=20 Telesystem-Argo Global Capital, and VantagePoint Venture Partners. =09=09http://www.clustra.com =09=09 =09=09 =09=09Dutch Drug Discovery Firm Screentec Gets $5.5M Round One =09=09 mail? top =09=09 =09=09 LEIDEN, Netherlands (VENTUREWIRE) -- Screentec, a developer of=20 drug-discovery technologies based on integrated biomolecular screening and= =20 chemical analysis, said that it received EUR 6.5 million ($5.5 million) in= =20 first-round funding from Alafi Capital, Life Sciences Partners, and Prelude= =20 Trust. Life Sciences Partners led this round. Prelude Trust participated wi= th=20 an investment of $2.7 million. Post-money, Screentec has a valuation of=20 approximately $12.7 million. As a result of this financing, Andy Allars of= =20 Prelude Trust and Mark Wegter of Life Sciences Partners have taken seats on= =20 Screentec's four-member board of directors. The company said it plans to=20 dedicate the funding to product development and expects it to last about tw= o=20 years, with another round of financing anticipated before the company reach= es=20 profitability. Prior to this round Screentec received strategic backing fro= m=20 pharmaceutical firm Bayer.=20 =09=09http://www.screentec.nl =09=09 =09=09 =09=09Medical Devices Firm AtriCure Gets $5 Million Round One =09=09 mail? top =09=09 =09=09 CINCINNATI (VENTUREWIRE) -- AtriCure, a developer of medical devices= , said=20 it raised $5 million in first-round funding from Charter Venture Group,=20 Partisan Management Group, and U.S. Venture Partners. U. S. Venture Partner= s,=20 a new investor, led the round. The company expects to launch its product, a= =20 minimally invasive technology to treat atrial fibrillation, next year.=20 =09=09http://www.atricure.com =09=09 =09=09 =09=09MEMS Devices Manufacturer Verimetra Closes Series A =09=09 mail? top =09=09 =09=09 PITTSBURGH (VENTUREWIRE) -- Verimetra, which manufactures devices us= ing=20 micro electro mechanical systems (MEMS), said it closed its Series A at an= =20 undisclosed amount with funding from Venture Beginnings, Pittsburgh Gateway= s,=20 and private investors. The company reports that its burn rate is $37,000 a= =20 month, and it expects to break even by the end of 2003. It anticipates unde= r=20 $1 million in revenues this year. The company said that the money will be= =20 used to increase manufacturing capabilities and to increase its technical= =20 staff. An undisclosed private investor will become the fifth member of the= =20 board of directors. The company was founded in January 2001 by chief=20 technology officer, Kyle Lebouitz, and president and CEO, Michele Migliuolo= .=20 Mr. Migliuolo said he will begin raising a Series B in August. He hopes to= =20 close it by the end of the year.=20 =09=09http://www.verimetra.com =09=09 =09=09 =09=09Networking Firm OmniCluster Gets $4M More in Series A =09=09 mail? top =09=09 =09=09 BOCA RATON, Fla. (VENTUREWIRE) -- OmniCluster Technologies, a provid= er of=20 hardware and software designed to create clustered server systems within=20 standard host servers, said that it has received approximately $4 million i= n=20 additional Series A funding from Mellon Ventures and unnamed individuals.= =20 This investment brings OmniCluster's first-round financing to $10 million.= =20 HIG Capital led the round with participation from Crossbow Ventures. CEO=20 Chris Fleck said he anticipates that this round will carry the company=20 through to 2002, with an eye to profitability by 2003. The company plans to= =20 dedicate the new funding to product development as well as sales and=20 marketing.OmniCluster is currently shipping product. As a result of this=20 financing, Max Chee, vice president of Mellon Ventures, has been granted a= =20 seat on the company's board of directors. Prior to this round the company= =20 received backing from IBM and unnamed individuals. The company expects to= =20 seek $10 million to $15 million in Series B within a year. =09=09http://www.omnicluster.com =09=09 =09=09 =09=09e-Business Provider DataCert Raises $5 Million Series B =09=09 mail? top =09=09 =09=09 HOUSTON (VENTUREWIRE) -- DataCert, a provider of e-business services= for the=20 secure exchange of information between trading partners and applications,= =20 said that it raised $5 million in Series B funding from Kestrel Document=20 Services, Palmetto Partners, UPS, and unnamed individuals. Palmetto Partner= s,=20 a new investor, led the round. Post-money, the company is valued at=20 approximately $22 million. DataCert plans to dedicate the funding to produc= t=20 development as well as sales and marketing. Citing an "ever diminishing"=20 monthly burn rate currently set at $200,000, DataCert president and CEO Eri= c=20 M. Elfman is eyeing profitability by the first half of next year. As a resu= lt=20 of this financing, Don Schad, an officer with Kestral Document Services, wi= ll=20 represent the Series B investors on the company's six-member board of=20 directors. Currently, DataCert's services are geared toward the legal=20 industry but the company plans to expand into the insurance and healthcare= =20 markets by 2002. In July 2000, DataCert secured $2.2 million in Series A=20 capital from UPS and unnamed individuals. The company anticipates raising o= ne=20 more round of funding, north of $10 million, by the middle of next year.=20 =09=09http://www.datacert.com =09=09 =09=09 =09=09Project Time & Cost Raises Second Round Funding =09=09 mail? top =09=09 =09=09 ATLANTA (VENTUREWIRE) -- Project Time & Cost, an insurance services = firm and=20 parent company of ptc-NET, said it raised an undisclosed amount in=20 second-round funding from GSC Partners. It also said it appointed Clint=20 Owings as the new chairman for ptc-NET, which is a direct repair service fo= r=20 light-commercial and homeowner claims. The company said the funding will be= =20 used to develop methods to make homeowner claims more effective and=20 efficient. Mr. Owings formerly served as president of ptc-NET and has been= =20 with Project Time & Cost since 1991, holding various positions, including= =20 senior cost engineer and executive vice president before his promotion to= =20 president of ptc-NET in 1999.=20 =09=09http://www.ptcinc.com =09=09 =09=09 =09=09Clickmarks Lands Series C Funding from Protege =09=09 mail? top =09=09 =09=09 FREMONT, Calif. (VENTUREWIRE) -- Clickmarks, which provides software= =20 infrastructure for enterprises and wireless carriers, announced it has=20 received a strategic investment from Protege Group, an investment firm and= =20 incubator. The amount invested was undisclosed. Funds from new investor=20 Protege are part of Series C financing, which initially closed just under $= 11=20 million in February. Draper Fisher Jurvetson ePlanet Ventures led the round= ,=20 with participation from undisclosed corporate and institutional investors.= =20 With a burn rate of less than $1 million a month, the company expects to=20 break even in the second quarter of 2002, CEO John Huyett said. Revenues th= is=20 year are expected to total more than $5 million, up from $2 million in 2000= ,=20 Mr. Huyett said. Protege will provide Clickmarks with sales offices in=20 London, Munich, and Paris. European sales currently account for about a=20 quarter of company revenues, and are expected to comprise up to 40% of=20 revenues in the next 18 months. Clickmarks may raise a round of strategic= =20 financing in 2002, according to Mr. Huyett. The company has raised=20 approximately $20 million to date from Draper Fisher Jurvetson ePlanet=20 Ventures, New Millennium Capital, Protege R.B. Webber and Co., Refco Group,= =20 and Silver Lake Venture Partners. =09=09http://www.clickmarks.com =09=09 =09=09 =09=09Net Infrastructure Firm Urbanpixel Closes Series B =09=09 mail? top =09=09 =09=09 GRANDVILLE, Mich. (VENTUREWIRE) -- Urbanpixel, a provider of enterpr= ise=20 applications for visualizing and organizing information, announced it has= =20 received Series B funding from XR Ventures, the strategic venture capital= =20 group for X-Rite, and individual investors. The company declined to disclos= e=20 the amount it raised. Peter Banks, managing partner at round leader and new= =20 investor XR Ventures, takes the fifth seat on Urbanpixel's board of=20 directors. The new money will be used for sales and marketing and is expect= ed=20 to last up to a year. Urbanpixel will begin fundraising in three months to= =20 raise Series C funding, said CEO Ishantha Lokuge. In February 2000, the=20 company raised an undisclosed amount of Series A funding from The Walter=20 Group. =09=09http://www.urbanpixel.com =09=09 =09=09 =09=09Pirelli Invests $12M in Network Equipment Firm Alloptic =09=09 mail? top =09=09 =09=09 LIVERMORE, Calif. (VENTUREWIRE) -- Pirelli Cavi e Sistemi, a publicl= y traded=20 company that manufactures telecom and energy cables and systems, said it wi= ll=20 invest $12 million in Alloptic, which provides optical network hardware=20 equipment, as part of an agreement to co-develop and co-market products. Wi= th=20 this investment, Pirelli acquires a 13.7% stake in Alloptic as well as one= =20 director seat and one observer seat on the Alloptic board. Under the=20 agreement the companies will co-market products, with Pirelli distributing= =20 products outside North America and Alloptic doing so within North America.= =20 The companies will also jointly develop new optical network hardware=20 equipment. Prior to the investment from Pirelli, Alloptic had raised=20 approximately $19.7 million from Blackstone Group, Driehaus Capital, CMS=20 Partners, GMS Capital Partners, Ohio Valley Venture Fund, and Scientific=20 Atlanta.=20 =09=09http://www.alloptic.com =09=09http://www.pirelli.com =09=09 =09=09 =09=09Vibration Technology Stirs Up $1.4M in Round Three =09=09 mail? top =09=09 =09=09 GLASGOW, Scotland (VENTUREWIRE) -- Vibration Technology, which manuf= actures=20 seismic acquisition systems for use in land seismic surveys for oil and gas= =20 companies, has raised GBP 1 million ($1.4 million) in a third round of=20 financing. Participants in this round were: The Department of Trade and=20 Industry (DTI); Generics AG; Nova Technology Fund; Yorkshire Fund Managers,= =20 which participated on behalf of British Smaller Technology Companies VCT; a= nd=20 individual investors. All institutional participants in this round were=20 first-time investors in Vibration Technology. Lead investor Yorkshire Fund= =20 Managers provided $353,000, Nova Technology Fund contributed $494,000,=20 private investors $207,000, Generics AG $141,000, and DTI $205,000.=20 Post-money valuation for Vibration Technology was $4.9 million. Vibration= =20 Technology had raised $847,000 in two prior rounds from Eastern Scotland=20 Investments: Scottish Technology Fund, which no longer exists and individua= l=20 investors. Eastern Scotland Investments did not invest in the third round.= =20 The company said the funding will be used mainly to develop prototype seism= ic=20 systems. The company's first products are expected to launch early next yea= r.=20 Vibration Technology anticipates closing a fourth round in September. The= =20 company said it has already secured a lead investor and third-round investo= rs=20 will most likely participate in the new round. =09=09http://www.vibtech.co.uk =09=09 =09=09 =09=09e-Commerce Solutions Raises $4 Million Fifth Round =09=09 mail? top =09=09 =09=09 STAMFORD, Conn. (VENTUREWIRE) -- e-Commerce Solutions (ECS), which d= evelops=20 and manages outsourced e-commerce applications and systems, said it has=20 received $4 million in its fifth round of financing from Connecticut=20 Innovations and Davenport Capital Ventures. Connecticut Innovations and=20 Davenport Capital Ventures, both previous investors, co-led the financing,= =20 which was a down round. ECS anticipates that new funds will last until the= =20 end of the year, when the company expects to reach profitability. The compa= ny=20 said it plans to dedicate the new funds to business development as well as= =20 for technology research and development. As a result of this financing, the= re=20 were two new appointments to the company's five-member board of directors:= =20 Aron Galinovsky, vice president of operations of Davenport Capital Ventures= ,=20 and Peter Longo, managing director of investments of Connecticut Innovation= s.=20 =09=09http://www.ecsnetwork.com =09=09 =09=09 =09=09GotMarketing Gets $3 Million in Round Three =09=09 mail? top =09=09 =09=09 CAMPBELL, Calif. (VENTUREWIRE) -- GotMarketing, a developer of Web-b= ased=20 self-serve e-mail marketing software, said it has closed $3 million in=20 third-round financing from Celtic House and individual investors. Celtic=20 House, a minor existing investor, led the round. Prior investors BCE Capita= l,=20 Protege, and XDL Intervest did not participate. Company valuation did not= =20 decrease in this round, said CEO Lynda Partner. GotMarketing said Andrew=20 Waitman, managing general partner at Celtic House, will join its board,=20 bringing the number of directors to four. The company reserves a fifth seat= =20 for an outside director with extensive marketing experience with small=20 businesses. The new money will launch the company's suite of e-mail marketi= ng=20 products, and enable GotMarketing to add to its business development team a= s=20 well as to enter into more strategic partnerships. The staff will grow from= =20 40 to approximately 50 by the end of the year, with most additions to the= =20 business development and customer service divisions. GotMarketing said it h= ad=20 "negligible" revenues in 2000, but expects to break even before the middle = of=20 next year. This third round of financing is expected to be the last, said M= s.=20 Partner. GotMarketing has raised $9.4 million to date.=20 =09=09http://www.gotmarketing.com =09=09 =09=09 =09=09Mobile App Firm FolloWAP Gets $2M from Mustang Ventures =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- FolloWAP, a provider of a services platfor= m and=20 applications for wireless operators, said it received $2 million in funding= =20 from Mustang Ventures, the venture arm of Siemens Information and=20 Communications. In conjunction with this investment, Siemens Information an= d=20 Communication mobile group has established a commercial partnership with=20 FolloWAP for integrating its flagship iFollow product into Siemens' existin= g=20 and future mobile offerings. In February, FolloWAP raised $10 million in=20 equity funding led by Carmel Ventures, with participation from Star Venture= s=20 and previous investors The Israel Corporation and Koor Corporate Venture=20 Capital. =09=09http://www.followap.com =09=09 =09=09 =09=09 bad news=20 =09=09? =09=09E-Commerce Services Firm WhatsHotNow.com Closes =09=09 mail? top =09=09 =09=09 LOS ANGELES (VENTUREWIRE) -- WhatsHotNow.com (WHN), an e-commerce se= rvice=20 provider for the licensed merchandise industry, has shut down. WHN's client= s,=20 including Fox, TVGuide, Comedy Central, and NBC have all posted notes on=20 their Web sites informing customers their online stores are temporarily dow= n.=20 "We were told last week and it happened very quickly," said Aileen Budow,= =20 director of corporate communications for Comedy Central, referring to WHN's= =20 closing. "We're in a unique position. Our online store is doing great, it's= a=20 wonderful revenue stream, we just need a new distributor." Ms. Budow said t= he=20 company is currently speaking with other vendors. "We kind of got the feeli= ng=20 things were not on the up and up with them," said a spokesperson for MobSho= p,=20 which provided B2B services to WHN. "We figured it was happening." WHN coul= d=20 not be reached for comment. The company received funding from Citigroup=20 Investments, Comcast Interactive Capital, Dawntreader Fund I, GE Capital=20 Equity Investments, TH Lee Putnam Internet Partners, Value Vision=20 International, WaterView Partners, and individual investors Frank J. Biondi= =20 Jr. and Michael Fuchs.=20 =09=09http://www.whn.com =09=09 =09=09 =09=09B2B E-Commerce Services Firm Hologix Shutting Down =09=09 mail? top =09=09 =09=09 PHOENIX (VENTUREWIRE) -- Hologix, a provider of business-to-busines= s=20 e-commerce software and services, is closing down, according to a company= =20 spokesperson. The spokesperson said the company, which had approximately 12= 0=20 employees, could not raise the Series C funding it needed to remain=20 operational. Hologix is seeking a buyer for its technology. The company=20 received $15 million in its second round of financing in January 2000 from= =20 Adams Capital Management, Insight Capital Partners, Integral Capital=20 Partners, and Kemper Ventures. =09=09http://www.hologix.com =09=09 =09=09 =09=09Streaming Media Ad Services Firm Hiwire Cuts 17 =09=09 mail? top =09=09 =09=09 LOS ANGELES (VENTUREWIRE) -- Hiwire, a provider of advertising servi= ces for=20 streaming media content providers, said it laid off 17 employees, slightly= =20 less than a third of its staff. A company spokesperson said it made the=20 layoffs to cut costs as it seeks to close a round of funding. "It absolutel= y=20 in no way affects our broadcast base," said the spokesperson. "We definitel= y=20 plan to close a third round." Hiwire's investors include Grey Ventures, New= =20 Enterprise Associates, and Zone Ventures. =09=09http://www.hiwire.com =09=09 =09=09 =09=09With No Buyer in Sight, TerraShare Shuts Down =09=09 mail? top =09=09 =09=09 ALEXANDRIA, Va. (VENTUREWIRE) -- TerraShare, a Web-hosting service a= nd=20 network provider of topic-specific portals, said it will end its Web-hostin= g=20 service and shut down the company. Co-founders Joe O'Brien and John Gregory= =20 said in a statement on TerraShare's site that "attempts to find additional= =20 advertisers for the site or someone to acquire the company ultimately prove= d=20 unsuccessful." Since the end of January, TerraShare's staff has been workin= g=20 without pay, the co-founders said. The company first announced its plan to= =20 find a buyer in March, when it hired the investment bank Alterity Partners = to=20 aid the company's search. In October 2000, TerraShare raised $2.1 million i= n=20 Series A funding from the Aslan Group.=20 =09=09http://www.terrashare.com =09=09 =09=09 =09=09Ditto.com Ceases Operations, Plans To Sell Remaining Assets =09=09 mail? top =09=09 =09=09 EMERYVILLE, Calif. (VENTUREWIRE) -- Ditto.com, which operates a visu= al=20 search engine, has ceased operations, President and CEO Wayne Willis told= =20 VentureWire. Mr. Willis said he is in negotiations to license the company's= =20 search engine technology to the original founders of Ditto.com, who have no= w=20 formed a new company called TLS Technologies. The founders, including Micha= el=20 Lyons, John Treacy and Steven Schmitt, will retain the Ditto.com URL, Mr.= =20 Willis said. In addition to a potential licensing deal, Ditto.com has been= =20 meeting with prospective buyers to sell its intellectual property, which ha= s=20 an estimated value in the "eight-figure range," Mr. Willis said. He decline= d=20 to discuss further details on the pending negotiations. Ditto.com raised=20 about $33 million in funding from a number of investors including ETF Group= ,=20 European Technology and Finance Investment Group, Trinity Ventures and=20 Waterline Capital. Mr. Willis became CEO and president of Ditto.com last=20 year, and took the position of venture partner in ETF Group.=20 =09=09http://www.ditto.com =09=09 =09=09 =09=09The Dock Shuts Down After Failing to Find Funding =09=09 mail? top =09=09 =09=09 SANTA MONICA, Calif. (VENTUREWIRE) -- The Dock, which operated an on= line=20 marketplace for the industrial equipment industry, said it was shutting dow= n.=20 The Dock said that its five-member board of directors authorized the compan= y=20 to begin winding down operations on May 29 due to difficult economic market= =20 conditions. The company said it had attempted to raise another round but=20 would not comment on the amount. Last week the company laid off 45 employee= s=20 and a number of consultants are now responsible for closing the company. Th= e=20 Dock, founded in April 2000, had raised over $20 million in two rounds from= =20 Lehman Brothers Venture Capital Group, Lehman Brothers Assets Based Group,= =20 and individuals. It employed approximately 60 people at one time.=20 =09=09http://www.thedock.com =09=09 =09=09 =09=09MetaTV Acknowledges Charges Against CEO =09=09 mail? top =09=09 =09=09 SAUSALITO, Calif. (VENTUREWIRE) -- MetaTV, which provides broadband = portals=20 and applications for interactive television, acknowledged that its CEO,=20 Ranjit Singh Sahota, has been arrested on allegations that he raped a=20 12-year-old girl, as first reported in the Wall Street Journal. The company= =20 said the incident involved "personal activities entirely unrelated to compa= ny=20 operations" and declined to comment further. Mr. Sahota was arrested by the= =20 FBI and the Sunnyvale Police on June 2 for the alleged crime. In a statemen= t,=20 MetaTV said co-founder and president, Andrew Lev, will oversee the company'= s=20 day-to-day activities. It also said the company's board and investors "rema= in=20 enthusiastic and committed to its continued success." The arrest comes afte= r=20 a three-month investigation by the FBI and Sunnyvale Police, the FBI said.= =20 Beginning in July 2000, Mr. Sahota entered into conversations with the girl= ,=20 the FBI said, and in August 2000 arranged to meet the girl. The sexual=20 assault allegedly occured in a Sunnyvale, Calif. hotel room, according to F= BI=20 reports. Starting in May 2001, the FBI said an undercover agent posing as a= n=20 14-year-old girl began to have conversations with Mr. Sahota via e-mail, ch= at=20 rooms, and telephone. These interactions culminated with his arrest last=20 Saturday in San Francisco's Golden Gate Park. According to the FBI, MetaTV'= s=20 office was searched along with Mr. Sahota's Fairfax, Calif. home and car.= =20 MetaTV, which raised $28 million in April, is backed by Comcast Interactive= =20 Capital, Cox Communications, Atrium Venture Partners, Crown Technology=20 Partners, Harron Capital, Liberate Technologies, Redpoint Ventures, Rosewoo= d=20 Venture Group, and Saints Ventures. =09=09http://www.metatv.com =09=09 =09=09 =09=09 new products=20 =09=09? =09=09eToll Charges Ahead Under New Name FastForward =09=09 mail? top =09=09 =09=09 PITTSBURGH (VENTUREWIRE) -- eToll, a provider of digital services fo= r=20 consumer commerce, announced the company's name change to FastForward. The= =20 company will continue to offer the same services under its new name.=20 FastForward also said it plans to announce the close of its third round of= =20 funding next week. In April the company cut 25% of its staff. FastForward h= as=20 raised $25 million in two rounds from Adams Capital Management, Mellon=20 Ventures, and individuals. =09=09http://www.ffwd.com =09=09 =09=09 =09=09AmEx & Others Launch Intranet Portal Firm Workadia =20 =09=09mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Workadia, which provides hosted intra= net=20 portals for midsize businesses, announced the company's launch. Founding=20 investors American Express, Infosys, Tibco Software, and WestBridge Capital= =20 Partners invested $16.7 million in the company. Workadia said it is current= ly=20 beta-testing its Web-based offering with American Express and plans on=20 signing up four other beta customers this year. The company expects to laun= ch=20 commercially by the end of 2001. The funding will be used as working capita= l=20 and to recruit a full senior management team and staff. Co-founder Mohit=20 Mehrotra, a vice president at American Express, is acting as interim CEO. T= he=20 founding investors said they began discussions about forming Workadia in th= e=20 third quarter of 2000. Workadia said the current financing should last unti= l=20 expected profitability in 2002 and that it had no immediate plans to raise= =20 additional capital. Workadia's board of directors includes Glen Salow and J= ud=20 Linville of American Express, Phaneesh Murthy of Infosys, Raj Mashruwala of= =20 Tibco Software, and Sumir Chadha of WestBridge Capital Partners.=20 =09=09http://www.workadia.com =09=09 =09=09 =09=09 m&a=20 =09=09? =09=09Messaging SoftwareFirm SetNet Buys Selfswitch =09=09 mail? top =09=09 =09=09 CORAL GABLES, Fla. (VENTUREWIRE) -- SetNet, which provides unified= =20 communications and messaging software and systems to the global=20 telecommunications industry, said it has acquired Selfswitch, a Paris-based= =20 unified communications application service provider in an all-stock deal.= =20 SetNet said the deal was completed for an unspecified percentage of SetNet'= s=20 capital stock. Selfswitch will be fully incorporated within SetNet and will= =20 serve as a base of operations for SetNet's expansion into Europe.=20 Selfswitch's co-founders, CEO Timothee Wirth and Thierry Ferey, are taking= =20 executive positions with SetNet, which said it will retain Selfswitch's=20 employees in Paris. Selfswitch had received $1 million from Brand Trust,=20 Pythagoras, Smartenigma, and individual investors. SetNet also said it was= =20 looking to raise a $10 million first round by the middle of August and was = in=20 advanced negotiations with four top-tier venture capital firms. The company= =20 also said it expects strategic investors to participate in the first round= =20 once a lead venture capital firm is designated. SetNet has raised $3 millio= n=20 in seed funding from individual investors.=20 =09=09http://www.selfswitch.com =09=09http://www.setnet.com =09=09 =09=09 =09=09Torque Systems Acquires Graphics ISP Digital Art Exchange =09=09 mail? top =09=09 =09=09 BOSTON (VENTUREWIRE) -- Torque Systems, a systems integrator for the= =20 graphics industry, announced it has acquired graphics ISP firm Digital Art= =20 Exchange (DAX), for an undisclosed amount. Sam Bogoch, Torque's CEO, said t= he=20 company will retain less than 10 employees from DAX, which laid off most of= =20 its employees prior to the acquisition. The acquisition, which will enhance= =20 Torque's open-systems networking and storage capabilities, does not include= =20 PrintPlanet.com, in which DAX holds a 50% stake. Mr. Borgoch confirmed that= =20 DAX had raised about $25 million in venture capital. Torque, which is not= =20 venture-backed, just reached the break-even stage in March, and believes th= e=20 acquisition will accelerate its path to profitability. Before it gets to th= at=20 stage, Torque is looking to raise from $7 million to $10 million for=20 marketing and research and development activities, Mr. Bogoch said. Torque = is=20 planning further acquisitions, with an eye towards data- and=20 storage-intensive companies, he added.=20 =09=09http://www.torque.com =09=09 =09=09 =09=09Omnicom Group Acquires Consulting Firm Wolff Olins =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Publicly held Omnicom Group, a media holding= =20 company, acquired consulting firm Wolff Olins. Terms of the deal were not= =20 disclosed. In 1997, Lloyds TSB Development Capital, the venture capital arm= =20 of Lloyds, received a 30% stake in Wolff Olins through an investment of GBP= =20 $2 million ($2.8 million). Lloyds was the only outside investor in the=20 company. Wolff Olins will become part of Omnicom's diversified agency=20 services group. Wolff Olins currently employs 200 people with offices in=20 London, New York, San Francisco, Madrid, Lisbon, and Tokyo. As a result of= =20 the transaction, Wolff has created a new board of directors that consists o= f=20 executives from Wolff and the Omnicom group. =09=09http://www.omnicomgroup.com =09=09http://www.wolff-olins.com =09=09 =09=09 =09=09Employment Wizard Merges with CareerSite =09=09 mail? top =09=09 =09=09 ANN ARBOR, Mich. (VENTUREWIRE) -- Employment Wizard, a subsidiary of= =20 MediaNews Group that provides the newspaper industry with recruitment=20 products, announced it has merged with CareerSite to create a new online= =20 company that will offer newspaper publishers full integration of employment= =20 line and display advertising. A spokesperson said that Peter Bernhard, who= =20 was president and CEO of Media News Technology, will serve as the CEO and= =20 president of the newly combined entity. Don Dornbush, president and=20 co-founder of CareerSite, has been named executive vice president of the ne= w=20 company, which will employ roughly 37 people. The spokesperson said the=20 merger will not result in any layoffs. CareerSite is backed by Advance=20 Internet and individual investors.=20 =09=09http://www.careersite.com =09=09http://www.employmentwizard.com =09=09 =09=09 =09=09 new directors=20 =09=09? =09=09AT&T Broadband Exec Joins Into Networks Board =09=09 mail? top =09=09 =09=09 CAMBRIDGE, Mass. (VENTUREWIRE) -- Into Networks, which provides stre= aming=20 software technology and integration services, announced that Susan Marshall= ,=20 AT&T Broadband's senior vice president of advanced broadband services, join= ed=20 the company's board of directors. Ms. Marshall takes the ninth position on= =20 the board, which is now full. She began working with the company when Into= =20 Networks was deployed to AT&T customers through Excite@Home and Road Runner= .=20 AT&T is a strategic investor in Into Networks. To date, Into Networks has= =20 raised $62.9 million in funding, and anticipates a round "in the near=20 future," according to a company spokesperson. Adelphia Communications, AT&T= ,=20 Bank Boston/Fleet Boston, Cisco Systems, Cox Communications, Fidelity=20 Ventures, Inktomi, Intel, Lauder Partners, Morgan Stanley Dean Witter,=20 Motorola, NTL, Putnam Private Equity Funds, UnitedGlobalCom, Venture TDF, N= CB=20 Holdings, Venrock Associates and YAS Broadband Ventures are backers in the= =20 company.=20 =09=09http://www.intonet.com =09=09 =09=09 =09=09Proceler Appoints Informatica Head to Board =09=09 mail? top =09=09 =09=09 BERKELEY, Calif. (VENTUREWIRE) -- Proceler, a developer of accelerat= ed=20 embedded systems design, said that it has appointed Diaz Nesamoney to its= =20 board of directors. Mr. Nesamoney is co-founder, president, and COO of=20 Informatica, a provider of e-business analytical applications and data=20 integration platforms. Mr. Nesamoney joins as the fifth member of the=20 Proceler board, which also includes Peter Stickells of Tradewinds Capital= =20 Management and Kian-Wee Seah of UOB Venture Management. This is a new seat.= =20 In March, the company received $4 million in a Series A round, which was le= d=20 by UOB and included Tradewinds and individuals. Proceler's seed round of=20 $750,000 was solely funded by Tradewinds. The company is planning to raise = a=20 Series B financing this fall. =09=09http://www.proceler.com =09=09 =09=09 =09=09 new people=20 =09=09? =09=09Blackboard Names Ex-Prometric Thomson CEO as Pres., COO =20 =09=09mail? top =09=09 =09=09 WASHINGTON (VENTUREWIRE) -- Blackboard, an Internet infrastructure s= oftware=20 company for online education, said it named Stephen Hoffman as the company'= s=20 first president and COO. Mr. Hoffman will be responsible for making the=20 company cash-flow positive by the end of the year and profitable by 2002. M= r.=20 Hoffman was formerly CEO of Prometric Thomson, a testing and assessment=20 service. Blackboard raised $48 million in April from Oak Hill Capital=20 Partners, Dain Rauscher Wessels, Microsoft, Morgan Keegan, AOL Time Warner,= =20 the Aurora Funds, the Carlyle Group, Dell Computer, Internet Capital Group,= =20 Kaplan, Merrill Lynch Kecalp, Novak-Biddle Venture Partners, and Pearson=20 Education. =09=09http://www.blackboard.com/ =09=09 =09=09 =09=09Alerts Hires Within; Replaces Co-Founder in Pres. & CEO Role =09=09 mail? top =09=09 =09=09 RALEIGH, N.C. (VENTUREWIRE) -- Alerts, an alerting infrastructure co= mpany=20 that develops software and services for the enterprise and Internet market,= =20 said David Fisher has been promoted from vice president of sales and=20 marketing to president and CEO to oversee the company's next stage of growt= h.=20 Mr. Fisher, who joined the company last month, replaces co-founder Michael= =20 Jones, who will leave the company, but will continue to work as a consultan= t=20 during the transition period and in the future. Mr. Fisher assumes Mr. Jone= s'=20 seat on the board, keeping the board at five members. The company expects t= o=20 fill the vice president of sales and marketing position, but has not yet=20 begun a search. Co-founder John Creamer will continue to serve as CTO and= =20 vice president of development. Alerts is funded by ABS Ventures, Aurora=20 Funds, Cordova Ventures, and Intersouth Partners. =09=09http://www.alerts.com =09=09 =09=09 =09=09Transaction Monitoring Provider Xtremesoft Appoints New Head =09=09 mail? top =09=09 =09=09 WOBURN, Mass. (VENTUREWIRE) -- Xtremesoft, a provider of software-mo= nitoring=20 technologies for Microsoft-based e-commerce transactions, said that Michael= =20 Dexter-Smith has joined as president, CEO, and chairman. Mr. Dexter Smith= =20 previously served as president and CEO for VenturCom, a provider of softwar= e=20 and services for Windows-based technologies. Mr. Dexter-Smith replaces=20 co-founders Scott Matsumoto and Steve Weiss, who will continue with the=20 company as chief technology officer and senior vice president of business= =20 development, respectively. He also joins as chairman of the six-member boar= d=20 of directors, which includes Harry Gruner and Bradford Woloson of JMI Equit= y.=20 There is currently one seat available on the board. In June 2000, Xtremesof= t=20 raised $5.8 million in its Series B financing. JMI Equity Fund led the roun= d,=20 which included an investment from Merrill Lynch subsidiary, Kecalp. The=20 company is currently looking to raise $10 million in Series C funding, whic= h=20 is set to close by the first quarter of next year. =09=09http://www.xtremesoft.com =09=09 =09=09 =09=09Ellipsus Systems Names Connect Things Execs to Top Posts =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Ellipsus Systems, which develops mobi= le data=20 communication technologies, said it named G. Russell Mortenson as its CEO.= =20 Mr. Mortenson held the same positions at Connect Things, which was acquired= =20 by AirClic earlier this year. Douglas Davis, who served as COO of Connect= =20 Things, also joined Ellipsus in the same position. Mr. Mortenson was=20 introduced to Ellipsus through its venture capital investor, T-Provider. La= st=20 week, Ellipsus moved the company from Stockholm to Dallas, where it is now= =20 has its headquarters. Chief technical officer, Rikard Kjellberg, and produc= t=20 development manager, Martin Bergljung -- both co-founders -- ran the compan= y=20 before it moved to the U.S. The move to Dallas is expected to create 40 to = 50=20 new jobs by the end of the year. Ellipsus is backed by T-Provider.=20 =09=09http://www.ellipsus.com =09=09 =09=09 =09=09Global Metro Promotes from Within for First CEO Appointment =09=09 mail? top =09=09 =09=09 SILVER SPRING, Md. (VENTUREWIRE) -- Global Metro Networks, which pro= vides=20 dark fiber-optic networks to telecommunications companies, Internet-service= =20 providers, and European enterprises, said Robert C. Bicksler has been=20 promoted from executive vice president and chief financial officer to CEO.= =20 Mr. Bicksler becomes the first person to fill this position since the compa= ny=20 was founded in January 2000. Prior to his appointment, co-founder, presiden= t,=20 and COO, Doug Hudson; senior vice president and general counsel, Steve=20 Chisholm; and Mr. Bicksler headed the company and answered directly to the= =20 board. There are currently no plans to fill Mr. Bicksler's past post, the= =20 company said. He will continue to sit on the eight-member board. Before=20 joining the company in October 2000, he worked for AT&T Canada as an=20 executive vice president and CFO following its $7 billion merger with=20 MetroNet Communications. Global Metro is backed by Alta Communications,=20 Columbia Capital, Providence Equity Partners, Spencer Trask Ventures, and= =20 Telcom Ventures.=20 =09=09http://www.globalmetro.com =09=09 =09=09 =09=09 vc personnel=20 =09=09? =09=09Conning Capital Names Ex-Progressive Exec as Partner =09=09 mail? top =09=09 =09=09 HARTFORD, Conn. (VENTUREWIRE) -- Conning Capital Partners, a private= equity=20 group that invests in financial services companies, said David W. Young has= =20 joined as partner. Mr. Young was chief investment officer for Progressive= =20 Corp., an auto insurer, before joining Conning. He has also worked at Salom= on=20 Brothers, where he started the bank asset/liability management group and=20 co-founded the financial institutions capital markets group. Mr. Young=20 co-invested with Conning in a few transactions while he was at Progressive.= =20 Conning Capital Partners, a unit of Conning & Company, has close to $600=20 million under management. The company focuses on financial services and=20 technology companies, including software, brokerage, banking, insurance, an= d=20 managed-care companies.=20 =09=09http://www.conning.com =09=09 =09=09 =09=09Newbury Ventures Adds Two Venture Partners =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Newbury Ventures, which provides fina= ncing=20 for emerging communication and information technology companies, said Conra= d=20 Lewis and Ken Wigglesworth, co-founders of Eagle One Ventures, will compri= se=20 Newbury's recently opened Ottawa office as venture partners. They will loca= te=20 and manage investments in the area while continuing to serve as principals = at=20 Eagle One Ventures. Mr. Lewis will focus on early-stage networking and=20 communications investments in Canada for Newbury. Previously, he was an=20 executive vice president at Newbridge Networks, where he worked in the acce= ss=20 and network management product group. Mr. Wigglesworth is also a former=20 Newbridge Networks executive, where he served in the CFO position. Newbury= =20 Ventures recently closed its third fund at $250 million and added two new= =20 venture partners to its Paris office.=20 =09=09http://www.newburyven.com =09=09 =09=09 =09=09 vw corrections=20 =09=09? =09=09Optium =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- An article in Tuesday's VentureWire on opt= ical=20 device and packaging technology firm Optium contained an incorrect URL for= =20 the company. Optium's URL is http://www.optiumcorp.com. Also, the name of L= ee=20 Munder Venture Partners, an investor in the company, was misspelled.=20 =09=09 =09=09 =09=09iWitness =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- In Monday's VentureWire an item about iWit= ness, a=20 provider of digital business records management software, incorrectly liste= d=20 World Ventures as an investor. Wolf Ventures was the investor. The story al= so=20 omitted the affiliation of board member Tim Conner. He represents Sequel=20 Venture Partners. =09=09 =09=09 =09=09company index =09=09top =09=09 =09=09Alerts.com, Alien Technology, Alloptic, AtriCure, CareerSite, Clickma= rks,=20 Clustra Systems, Comdisco Ventures, Conning Capital Partners, DataCert.com,= =20 ditto.com, e-Commerce Solutions, Efficio, Ellipsus Systems, Employment=20 Wizard, Epicentric, FastForward, Focus Ventures, Followap, Global Metro=20 Networks, GotMarketing.com, Hiwire, Hologix, InsureZone.com, Into Networks,= =20 Mergermarket, MetaTV, Movaz, Napster, Newbury Ventures, OmniCluster=20 Technologies, Omnicom Group, Pirelli Cavi e Sistemi, Proceler, Project Time= &=20 Cost, Screentec, Selfswitch, SetNet, TerraShare.com, The Dock, Urbanpixel,= =20 Verimetra, Vibration Technology, WhatsHotNow.com, Wolff Olins, Workadia,=20 Xtremesoft=20 =09=09 =09=09 =09=09Chain chain chain -- supply chain, demand chain, value chain. =09=09When it comes to doing business, companies just want to =09=09eliminate any loose ends that hinder the ability of suppliers, =09=09manufacturers, designers, customers and salespeople to =09=09smoothly work together. At Enterprise Outlook, you'll hear =09=09and see what the leading public and private companies are =09=09doing to string together that chain. =09=09 =09=09Scheduled to speak: Bryan Stolle of Agile Software, =09=09Greg Owens of Manugistics, and Phillip Merrick of =09=09webMethods =09=09 =09=09Register and reserve your place=20 today:http://www.enterpriseoutlook.com/register.asp =09=09 =09=09 =09=09 =09=09investor index =09=09top =09=09 =09=09Buena Venture Associates, Celtic House, Charter Venture Capital, Corv= en=20 Ventures, GSC Partners, Kestral Document Services, Menlo Ventures, Meritech= =20 Capital Partners, Motorola Ventures, NewMedia Spark, Oak Investment Partner= s,=20 Palmetto Partners, Partisan Management Group, Pittsburgh Gateways, ProVen= =20 Private Equity, Silicon Valley Bank, U.S. Venture Partners, UPS Strategic= =20 Enterprise Fund, Venture Beginnings, Worldview Technology Partners,=20 XRVentures =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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