This is the Dec 21 press release by horizonlive (day before jordex dec 22 press release)
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horizonlive.com
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HORIZONLIVE.COM RECEIVES $6.1 MM VENTURE FINANCING
LED BY THE ARGENTUM GROUP
Funding to enhance the Company's product, HorizonLive, a
leading web-based presentation and training tool and expand
sales and marketing efforts in the rapidly evolving B2B
e-Learning space
NEW YORK ? December 21, 1999 ?
HorizonLive.com announced today that it has closed $6.1 million of
venture financing. Funds from the investment will be used to expand
sales and marketing efforts, and further develop the Company's
HorizonLive product, a web-based communications solution
combining live streaming audio, chat, and archiving, to deliver live
presentations and training sessions over the Internet.
The funding was led by The Argentum Group, New York; and First
Analysis Venture Capital, Chicago. In addition, other investors in the
round included existing investor, Early Stage Enterprises, Princeton,
New Jersey; and Canadian investors Jordex Resources, Vancouver;
and Jefferson Partners, Toronto.
In announcing the financing, HorizonLive.com's founder and
President, Bob Clyatt, said, "We are delighted to be working with
Argentum and our co-investors to take the company to the next
level. The e-Learning market is poised for enormous growth, and
HorizonLive.com is now positioned well to facilitate the industry's
evolution. We look forward to using these new funds to build our
technical development, business development, sales and marketing,
and customer support teams. We believe the market is looking for a
leader in live, interactive e-Learning on the web, and this investment
will help us to fulfill that need."
The Company also announced the appointment of Walter
Barandiaran, a Managing Partner of The Argentum Group, and Bret
Maxwell, Vice Chairman of First Analysis Venture Capital, to its
Board of Directors.
About HorizonLive.com
Based in New York City's budding Silicon Alley, HorizonLive.com
(www.HorizonLive.com) is a leading provider of interactive web-based
communications solutions. Since its formation in 1997, originally as
a division of I/O 360, and spin-off in 1998, the Company has been
rapidly gaining momentum, growing its customer base to include
leading companies and organizations such as Lucent, 3Com,
NASA, Ernst & Young, MetLife, Accordant Health Services, NYC
Transit, and Siemens. The Company has also established strategic
partnerships with leading companies including Blackboard Inc. and
RealNetworks, Inc., to help develop and distribute its solutions.
Utilizing the existing Internet infrastructure, the Company's
Java-based HorizonLive product allows businesses to effectively
conduct interactive meetings, training sessions, and presentations
over the web, thereby eliminating the barriers and expenses related
to physical location. HorizonLive.com's customers are able to
realize cost reduction from travel, increased productivity over
conventional voice-only conference calls, and improved customer
care from providing live customer service, marketing, and training.
Through its HorizonHosted and MyHorizon services, customers are
able to experience the HorizonLive.com solution, first-hand and
risk-free, by conducting free web-based meetings.
About The Argentum Group
The Argentum Group, founded in 1987, is a New York based venture
capital firm that provides capital to emerging growth companies for
development, growth, and acquisition. Argentum has completed over
80 investments across a broad range of industries including
eBusiness, new media, Internet infrastructure, information
technology, business services and outsourcing, healthcare, and
industrial processes. Argentum generally invests between $5 million
and $10 million in each of its portfolio companies. Representative
Argentum investments include Medsite.com, Knitmedia, Inc.,
Omnipoint, Inc., Tut Systems, Inc., Dynamic Mobile Data Systems,
Inc., USA Waste Services, Inc., NuCo2, Inc., Security Dynamics
Technologies, Inc., and M Cubed Technologies, Inc. |
