Another Affinity Logic / P6 VC article
October 20, 2000 12:53
Affinity Logic Lands PSINet Funds
ASHBURN, VIRGINIA, U.S.A., 2000 OCT 20 (NB) -- By Kyle Balluck, Washtech. Affinity Logic Systems today said it has secured an undisclosed amount of funding from PSINet Ventures, the venture capital division of Ashburn, Va.-based PSINet [NASDAQ:PSIX].
Karl Seiler, Affinity Logic president & CEO, said in an interview that PSINet is building application service provider (ASP) hosting services for the company. Seiler said that under the equity for services agreement, PSINet is selling bandwidth, server infrastructure and software to Affinity Logic in exchange for stock in the Orlando, Fla., company.
Affinity Logic also said PSINet will manage its electronic customer relationship management (eCRM) portal in its Web hosting centers.
Affinity Logic, formerly known as Scorecard USA, provides a Web-based customer retention and customer knowledge portal. Seiler said Affinity Logic helps companies build customer intimacy and satisfaction, while involving customers in activities that affect their quality of life.
Affinity Logic said its Internet software infrastructure and services help companies build brand loyalty, and increase the revenue per site user. Affinity Logic said its suite of software tools utilize data mining, data warehousing, artificial intelligence (AI), personalization and extensive Internet user interface code. The company's Web-based customer interaction technologies integrate with and complement traditional CRM solutions and offer tight integration with back-end systems, Affinity Logic added.
Seiler said the company plans to have the entire system online within 30 days.
Affinity Logic added that Crossbow Ventures and several individual investors have already sunk money into the company.
Before the Affinity Logic announcement, PSINet Ventures listed 15 portals among its portfolio companies. Just before noon, PSINet shares were up $1.062, or 17.53 percent, to $7.125. |
