(COMTEX) B: EDOCS SECURES ADDITIONAL FUNDING FROM TOP TIER INVESTORS
B: EDOCS SECURES ADDITIONAL FUNDING FROM TOP TIER INVESTORS INCLUDING VIGNETTE,
SIGMA PARTNERS, CHARLES RIVER VENTURES, JAFCO AMERICA Ventures and Goldman
Sachs
NATICK, Mass., Feb 17, 2000 /PRNewswire via COMTEX/ -- edocs, a
leading provider of Internet billing and customer management software
and services, today announced that it has closed a private round of
financing. edocs has now raised more than $40 million in just over 20
months. Participants in this round included Vignette (Nasdaq: VIGN),
the leading provider of e-business applications for building an online
business, as well as previous investors Sigma Partners, Charles River
Ventures, JAFCO America Ventures, Goldman Sachs, and others.
edocs has recently added a number of Fortune 1000 companies to its
customer base, which includes American Express and GE Capital Card
Services and other industry leaders in the telecom, utility, financial
service, insurance and credit card industries.
In other industry developments, CheckFree (Nasdaq: CKFR) has announced
that it plans to acquire TransPoint, a joint venture between Microsoft
and First Data Corp), in a stock deal worth approximately $1 billion at
the time the transaction was announced.
"We believe that CheckFree and TransPoint's merger will speed the
adoption of Internet billing by simplifying the decision making process
for billers choosing between Checkfree and TransPoint's distribution
and processing capabilities," said Jim Moran, executive vice president
and cofounder of edocs. "Billers will now be able to focus on selecting
the best Internet billing and customer management software solution for
making bills, statements, and other transactional content available to
their customers wherever they make their home on the Internet."
In recent months, edocs has announced a series of alliances, including
a key alliance with Vignette.
"edocs has proven to be the right choice to partner with in the
Internet billing space," said Bill Daniel, Vignette's senior vice
president of products. "edocs' Internet billing solution lets billers
give consumers the tools they need to effectively manage their bills
and statements."
"edocs delivers on its promise of providing a flexible, scalable,
packaged software solution for Internet billing in each of the key
verticals," said Paul Hughes, research director for The Yankee Group.
"This latest funding is going to make edocs' presence that much more
potent and pervasive in the expanding Internet billing space."
"We will continue to deliver on the business model that has enabled us
to win the business of the world's largest bill and statement issuers,"
said Moran. "Our complete, off-the-shelf packaged software solution
delivers all the key functionality for an end-to-end Internet billing
and customer management solution. BillDirect(TM) provides a level of
flexibility that ensures investment preservation for billers that
choose our software."
About edocs edocs is a leading provider of Internet billing and
customer management software and services that maximize customer
relationships by enabling web- based billing, customer self-service,
targeted marketing, and secure content distribution. edocs' products
are used by some of the world's largest providers of consumer credit,
utility, and billing services, including American Express, General
Electric Card Services, Southern California Edison, Boston Edison, and
Moore Corp. For more information about edocs, visit our web site at
www.edocs.com.
SOURCE edocs
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Keely Krantz, Director of Public Relations of edocs,
508-652-8307, kkrantz@edocs.com
WEB PAGE: edocs.com
GEOGRAPHY: Massachusetts
INDUSTRY CODE: CPR
MLM
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