Three web technology companies get new investments
The investment faucet may be opening again. Three Internet technology companies reported receiving new funding this week.
Brisbane, CA-based Trigo Technologies Inc., a provider of product information management software, completed a $12 million Series C round of expansion financing led by Pequot Ventures. Trigo says it will use the proceeds for operations to meet demand for its products and services. Trigo says it is cash flow positive and profitable. It plans to accelerate development of new products and expand its sales, marketing, development, and alliances organizations. Trigo’s first-tier investors that includes Bessemer Venture Partners, Globespan Capital Partners, Mayfield, and Symphony Technology Group, all joined Pequot Ventures, the direct investment arm of Pequot Capital Management Inc., in the Series C round.
“We are tremendously excited that external drivers like global data synchronization, web services and RFID are fueling demand for our business,” said Tom Reilly, CEO at Trigo Technologies. “Our series C financing will help us continue to exceed customer expectations, expand our product offerings and extend our global reach.”
New York-based online advertising services company 24/7 Real Media Inc. has sold $15 million in three-year subordinated convertible debentures to a single institutional investor. The debenture carries a 2% interest rate and is convertible into common stock of the Company at a conversion price of $1.75 per share. The company also issued to the investor a warrant to acquire up to 1.8 million shares of common stock, exercisable for five years at $1.9137 per share.
24/7 Real Media sells products and services that include Internet ad serving, web analytics, search engine optimization, online media representation and integrated marketing solutions.
Austin, TX-based 360Commerce, a provider of Java-based software solutions for multi-channel retailers, has received $12 million in venture funding. Lead investor is Sierra Ventures, with participation from prior investors SSM Ventures, Lovett Miller, Jefferson Capital Partners and Hill Partners. 360Commerce says it will use the capital to expand product offerings and geographic market reach of its store and enterprise solutions.
“360Commerce’s component-based, web-enabled solutions empower excellent customer service through point-of-sale cross-channel options such as buy on the web, pick up in the store; enable operational excellence through a real-time centralized view of store data and operations; and facilitate rapid innovation through their platform-independent, standards-based solutions that are easier and quicker to customize and upgrade,” said David Schwab, general partner at Sierra Ventures. “360Commerce’s vision, compelling technology and proven ability to execute were the key factors that led us to choose them from the hundreds of business plans we see.”
“With the right technology and a high-profile customer base that includes 4 of the top 25 U.S. retailers and 2 of the top 10 global retailers, 360Commerce is uniquely positioned to significantly increase market share,” said Charles Boyd, president and CEO of 360Commerce.
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