"New" financing(overall market conditions have been keeping me distracted)--
biz.yahoo.com
Monday March 20, 9:12 am Eastern Time
Company Press Release
OnLink Secures $20 Million in Third Round of Funding
GE Equity Joins Original Investors Sierra Ventures and Berkeley International in Funding B2B eCommerce Software Company
REDWOOD CITY, Calif.--(BUSINESS WIRE)--March 20, 2000--OnLink Inc., a leading provider of eCommerce sales and marketing applications, today announced that the company has closed its third round of funding, receiving $20 million in financing from a stellar list of investors including first time investor, GE Equity.
OnLink's first and second round investors, Berkeley International Capital Corporation and Sierra Ventures also committed to additional funding to bring the total private investment in the company to more than $37 million.
OnLink's mission is to radically improve the online buying experience by taking the customer's perspective to enable online decisions in both business-to-business and business-to-consumer markets. The company has realized tremendous growth since its second round of funding, and this latest round will enable OnLink to expand its worldwide sales and marketing efforts in North America and Europe and enter the Asia Pacific market. The financing will also be used to extend development of OnLink's eCommerce product offering for use in NetMarkets and commerce communities.
OnLink also announced today that it has appointed Keith Miller, senior vice president of GE Equity, to the OnLink Board of Directors. Miller joins the following board members: Buck French, OnLink's CEO and co-founder; Jeff Loomans, OnLink's CTO and co-founder; Dave Schwab, general partner Sierra Ventures and Jim Dorrian, former CEO of Arbor Software and general partner Crosspoint Venture Partners.
``This investment in OnLink reaffirms the tremendous opportunity that is afforded by the business-to-business eCommerce market space and validates our vision to deliver decision-making guidance and interactive customer service online,' said Buck French, CEO and co-founder of OnLink. ``We are pleased to have earned this exceptional commitment from both our current investors and from OnLink's newest investor, GE Equity.'
About GE Equity
GE Equity, a subsidiary of GE Capital, is the private equity arm of GE with investments in over 250 companies around the world. GE Capital, with assets of more than US$345 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, CT, provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide. For more information visit www.geequity.com.
About Berkeley International Capital Corp.
Berkeley International Capital Corporation (BICC) is a later-stage venture capital firm located in San Francisco, California. The firm has over $1.7 billion invested in later-stage private companies, and is a subsidiary of London Pacific Group Limited, a group with over $4.3 billion of assets under management or administration. Notable BICC investments include, 3Com Corporation, America OnLine, Net Perceptions Inc. and Oracle Corporation.
About Sierra Ventures
Sierra Ventures is a $700 million private venture capital firm which focuses its investments on early stage information technology-related companies. As active lead investors, Sierra Ventures works with entrepreneurs and management teams to originate and build new companies into large and profitable businesses. Notable Sierra Ventures investments include, Active Software, Fairmarket, Healtheon, Intuit Inc. and Micromuse Inc.
About OnLink
OnLink Inc., is a leading provider of eCommerce sales and marketing applications that dramatically improve the online buying experience. Built from the buyer's perspective, the OnLink Commerce Suite transforms eCommerce interactions by automating the customer decision process -- gathering customer requirements, providing consultative guidance and recommending valid solutions. OnLink empowers buyers to make informed choices that lead to greater satisfaction, while sellers can capture and learn from customer shopping behavior to increase marketing effectiveness.
OnLink is a privately held company located in Redwood City, California with field offices in Atlanta, Boston, Chicago, Seattle and the United Kingdom. Global business-to-business eCommerce customers include Amdahl Corporation, Ariba, General Electric Industrial Systems, General Electric Supply, INRANGE Technologies, Lucent Technologies, Snap-on Inc., Sony of America and Tellabs. For more information about OnLink visit onlink.com.
Note to Editors: All trademarks and company names are the property of their respective owners.
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Contact:
OnLink
Tracy Clifton, 650/298-3854
tclifton@onlink.com
Clay Helm, 650/298-6000
chelm@onlink.com |
