Vcommerce Secures $13 Million in Funding from Internet Capital Group
Wednesday March 29, 8:00 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 29, 2006--Vcommerce, a market leader in on-demand commerce and fulfillment solutions, today announced that it has secured $13 million in funding from Internet Capital Group (Nasdaq:ICGE - News), a PA-based company that owns and builds Internet software companies that drive business productivity and reduce transaction costs between firms.
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The funding follows rapid growth in Vcommerce's client base and increased adoption of Vcommerce's platform and services during 2005. Clients include leading companies Target, Overstock.com, eToys Direct, David's Bridal, MTV Networks, Baby Universe and Ritz Interactive, among others.
"Joining forces with Internet Capital Group is great news for our clients, partners and employees," said Dan Clarke, CEO of Vcommerce. "This financing provides us with the necessary capital to pursue our growth strategies, and we are fortunate to be able to leverage ICG's expertise, outstanding management team and extensive network of partner companies."
Vcommerce's suite of web-based on-demand tools and services, including dashboards and scorecards, enable retailers, distributors and manufacturers to manage the complexities of large-scale supplier integrations, multi-channel product merchandising and high-volume order processing and fulfillment. In addition, Vcommerce's end-to-end e-commerce offering allows companies to manage high-volume storefronts with minimal operating overhead and no IT infrastructure. Clients further benefit from a usage-based pricing model with low start-up costs and can quickly and easily deploy an end-to-end commerce solution on the Vcommerce platform, or integrate only the modules that meet their unique business needs.
"Vcommerce, with its proven and innovative technology and attractive usage-based pricing model, is well-positioned to benefit from the tremendous growth in the e-commerce market," said Michael Zisman, Managing Director, at Internet Capital Group. "It has all the elements needed to solve real business challenges for its retail clients, and we look forward to working with Vcommerce to strengthen its market leadership."
About Vcommerce
Vcommerce is a market leader in on-demand commerce and fulfillment solutions for multi-channel retailers and direct-to-consumer companies of all types. With nearly a decade of experience, Vcommerce counts two of the top three fastest-growing online retailers among its clients and has integrated thousands of suppliers and processed over $1 billion in goods for such leading merchants as Target, Overstock.com, eToys Direct, David's Bridal and MTV Networks. Companies choose Vcommerce for its proven web-based on-demand management tools that enable them to confidently rely on Vcommerce for some or all of their commerce chain functions, manage large-scale supplier and drop-ship integrations, and maintain visibility and control of their high-volume order traffic across disparate business systems and complex supplier networks. Clients can quickly and easily deploy an end-to-end commerce solution or integrate only the options that meet their unique business needs. For more information, please visit www.vcommerce.com, or call 480-922-9922.
About Internet Capital Group
Internet Capital Group (www.internetcapital.com) owns and builds Internet software companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies that are delivering on-demand software and service applications to customers worldwide. |
