Venture
Update Vol IV, #7, July, 2000
Cary—HiddenMind Technology, Inc. (www.hiddenmind.com), a provider of mobile applications services (m-ASP), closed on a $25 million round of venture financing from Warburg, Pincus & Co. and BEA Systems, Inc. Warburg, Pincus & Co. has committed $25 million in additional equity financing as HiddenMind achieves anticipated milestones. Contact: Jeremy Konko (919.829.1933).
Raleigh—Peopleclick.com (www.peopleclick.com), a provider of online human capital management tools for human resource professionals, received $16 million in venture financing in June 2000. Morgan Stanley Dean Witter Venture Partners led the round, which included previous investors and company executives. Contact: Li-Chun Hsu (919.645.2800).
Raleigh—DataFlux Corp. (www.dataflux.com), a developer of data cleansing software tools focused on increasing the accuracy of corporate databases, was acquired by SAS Institute in June 2000. SAS, the world's largest privately held software company, will apply DataFlux technology to extend the SAS® data warehousing capabilities for customer relationship management (CRM). Financial terms of the acquisition were not disclosed. Contact: Katie Fabiszak (919.846.9000).
Cary—Research Triangle Commerce, Inc. (www.rtci.com), a provider of vertically integrated electronic commerce services, signed an agreement to be acquired by New York-based Internet Commerce Corporation (ICC) in June 2000. Under the terms of the agreement, ICC will issue up to $4 million of cash and shares of common stock having a combined value of $42 million based on the average of the closing prices of ICC's common stock for 10 days prior to the effective time of the merger, subject to a maximum of $21.11 per share and a minimum of $12.67 per share. Contact: Andre Ristaino (919.657.1500).
Research Triangle Park—InterLan Technologies, Inc. (www.ilan.net), a managed service provider that offers total e-commerce solutions to small to mid-sized companies, closed on $1.5 million in first round financing from the Canopy Group in June 2000. Contact: Lane Weisman (919.852.0690).
Research Triangle Park—WindWire (www.windwire.com), a wireless Internet startup, raised $4 million in first round financing in May 2000 from Intersouth Partners and strategic investors. Contact: Laurie Zuckerman (919.960.9889).
Charlotte—SoDeog Technologies (www.sodeog.com), a developer of wireless device2device information exchange systems, received $5 million in first round financing in May 2000 from Noro-Moseley Partners and Wakefield Group. Contact: Megan Merchant (704.335.1350).
Cary—Microcosm Technologies, Inc. (www.memcad.com), a developer of MEMS, acquired Coyote Systems, Inc., a San Francisco based MEMS software development firm, in June 2000. The purchase was made for an undisclosed amount of Microcosm stock. Microcosm plans to integrate Coyote's advanced features into Microcosm's MEMCAD software. Contact: Dave Cook (919.854.7500).
Raleigh—BTI (www.btitele.com), one of the nation's largest privately-held integrated communications service providers, acquired Max Commerce, Inc., an Atlanta-based Internet solutions firm, in June 2000. Under the terms of the agreement, BTI purchased 100 percent of Max Commerce's assets in a combination of cash and stock. Contact: Tony Copeland (919.863.7009).
Charlotte—VideoGate.com (www.videogate.com), a developer of software and hosting services for interactive Internet sales and customer service calls with voice, video and text chat, received $4 million in venture funding in June 2000. Investors included River Cities Capital. Contact: Michael Sibley (704.357.9710).
New Developments
Cary—3TEX (www.3tex.com), a
developer of proprietary, high speed 3D weaving and
weft knitting processes that produces composite
materials that can be stronger than steel but cheaper
and lighter, won a contract from the U.S. Navy in
June 2000 to manufacture carbon rocket nose cones.
The contract is expected to generate $750,000 in
revenues over the next 18 months. Contact: Brad
Lienhart (919.481.2500).
Raleigh—Summus Ltd. (www.summus.com), a developer of wavelet-based advanced imaging and video solutions, signed a licensing agreement with Digitra Systems Inc., one of Korea's leading providers of multimedia and digital television equipment, in June 2000. Under the agreement, Digitra's new ZioCam PC camera will incorporate Summus' MaxxNoteTM video email software. Digitra plans to produce as many as 500,000 PC cameras per year with advanced video email capabilities supplied by Summus. Contact: Janie Reed (919.807.5634).
Chapel Hill—Extensibility, Inc. (www.extensibility.com), a developer of schema and XML infrastructure asset management solutions, has released XML InstanceTM, a schema-driven data editor for XML-based application business documents. XML Instance is the first in a series of products that will focus on the design, processing, and management of XML infrastructure assets within an enterprise. Contact: Peter de Leon (919.969.6500).
Durham—Blue292 (www.blue292.com), a provider of a business-to-business e-marketplace for environmental, health and safety (EHS) products and services, signed ENSR International Corporation, VERSAR, Inc. and EnSafe, Inc. to its Early-Adopter Pilot Program in June 2000, extending Blue292's Early-Adopter Program to the professional services sector. Contact: Susan Acker (919.806.2440).
Research Triangle Park—neoButler, Inc. (www.neobutler.com), a developer of a Web-wide personalization service, formed a strategic alliance with Engage, Inc., a provider of next generation online marketing solutions, in June 2000. Under the agreement, neoButler will integrate Engage Media's Audience Profile-targeted campaigns into its Web-wide personalization service, and Engage Media will sell and deliver advertising for neoButler and its portfolio of business customers. Contact: Lewis Broadnax (919.226.4901).
Research Triangle Park—The Council for Entrepreneurial Development (www.cednc.org) announced the winners of the 2000 CED Entrepreneurial Excellence Awards. The winners are:
-
2000 Entrepreneurial Excellence Award
- Kip Frey, CEO OpenSite Technology
-
2000 Outstanding Service to Entrepreneurs
- Jeff Barber, PricewaterhouseCoopers
-
2000 Peak Performance Award
- Ganymede Software
-
2000 Deal of the Year
- BuildNet
-
2000 Deal of the Year
- Orologic
-
2000 IT Product of the Year
- Pinpoint.com
-
2000 Life Science Technology of the Year
- Xanthon, Inc.
-
2000 Spin-off of the Year
- Cronos
-
2000 Start-Up of the Year
- Auction Rover
-
2000 President's Service Award
- Michael Brader-Araje and Robbie Hardy
-
2000 FastTracker Award
- Lori Eichel, BlueBolt Networks
-
2000 Community Impact Award
-
Reed Phillips
-
Joe Woodman
-
Michael Zapata
-
SciQuest Team
-
On The
Up
BLUE292
Durham's Blue292, Inc., is a Web-based, interactive
e-marketplace for environmental, health and safety
(EHS) products and services used by a variety of
industries such as pharmaceutical, engineering,
biotechnology, and governmental organizations
worldwide. Using customized secure Web sites,
customers are matched with the best suppliers of
testing and monitoring equipment, sampling and
analytical supplies, as well as staffing, training,
analytical laboratory and compliance services.
Blue292's four founding partners, Lorri White, Allyson Porter, Susan Acker and Phillip Hanna, worked together in the environmental and pharmaceutical industries when they formed the company in 1997. They had an innovative vision of allowing environmental professionals to purchase both EHS products as well as analytical services. Originally called "Environmental Connections, Inc.," the company is now called "Blue292," an artist's term for the blue of a clear, unpolluted sky.
"This is a $100 billion worldwide market ideally suited for the Blue292 business-to-business e-commerce model," said Acker, Blue292's President and CEO. "Our e-marketplace, and the fully-operational ASP model we will eventually develop, help companies operate more efficiently and more economically while meeting all applicable environmental standards."
The company's vision has already received a tremendous response. Since April, Blue292 has signed major industrial customers such as General Motors and Reichhold Chemical as well as three top consulting and engineering firms.
Blue292 acquired $2 million in venture capital in mid-January from Eno River Capital of Durham, and a $17 million investment - including a $15 million Series B round - led by DLJ's Sprout Group, in March 2000. Blue292 also obtained investments from the NC Technological Development Authority.
SPRINGBOARD
2000: Mid-Atlantic
July 11-12, 2000
America Online's Seriff Auditorium in Dulles,
Virginia
Technology Fast 50
August 17, 2000
5:30 pm
Sheraton Imperial, RTP
For more information about these events or to register, visit the CED Web site at www.cednc.org or call 919.549.7500.
CED is a private non-profit organization supported, in part, by corporate contributions, including funding from The R&M Group, R.R. Donnelley Financial and Strategic Technologies.
Research Triangle Venture Update is published by
the Council for Entrepreneurial Development (CED), a
non-profit organization located in Research Triangle
Park, N.C.
Editor Carolyn Foy, CED
P.O. Box 13353
RTP, NC 27709
Phone: 919.549.7500
Fax: 919.549.7405
Email: mcfoy@cednc.org