January 19, 2001, 12:00 AM

Vcommerce gets another round of funding

Vcommerce Corp., a leading provider of outsourced commerce services, today announced it has secured $21 million in mezzanine-round financing. The company will use this funding, which will take it through to profitability, to expand its product development, sales and marketing efforts. This will further enhance its technology and related services for brick-and-mortar retailers, manufacturers and e-commerce sites. Investors in the companyÕs financing round include lead underwriter American Express Financial Corp., Dain Rauscher Wessels and PaineWebber Inc.. Building on an exsiting strategic partnership with Vcommerce, Inktomi Corp., a developer of scalable Internet infrastructure software, became an investor in the commerce service provider as well. Additionally, returning for this round were original investors Archery Capital, Benchmark Capital and Pequot Capital. "This additional investment will enable us to accelerate our growth and build on our leadership position in the outsourced commerce services space," said Scot Melland, CEO of Vcommerce.

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