@hoc Receives $9.5 Million in Funding; Series B Investment to Fuel Internet Start-up's Continued Expansion.Business Editors/Technology Writers SAN FRANCISCO--(BUSINESS WIRE)--May 2, 2000 @hoc, the Customer Retention Company, today announced it has received $9.5 million in second-round financing from an investment group led by Greylock. Investment partners include Weston Presidio Capital and i-Hatch Ventures. Additional information is available via http://www.athoc.com. "@hoc is uniquely positioned for success, given a powerful combination of their business model, vision, and management team," according to David Strohm, a general partner with Greylock and a member of @hoc's board of directors. "The fact that they have signed up over 120 leading websites and strategic partners for their comprehensive, outsourced Customer Retention Solution prior to their formal launch positions them as the leader in an exciting new market space. Greylock is very pleased to lead this round of funding." "This investment is testament to the value that we bring to our customers and strategic partners," said Guy Miasnik, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of @hoc. "Our company is committed to extending partner websites 'beyond the browser,' while dramatically improving the usability of the Internet for users of toolbars powered by @hoc. This round of funding will allow us to expand the reach of our technology, and empower additional websites with our unique approach to customer retention, desktop branding, and Internet usability." About Greylock Greylock is a private venture capital firm, founded in 1965, with committed capital of over $1 Billion under management. Over the past 35 years Greylock has provided equity capital and support to more than 300 developing companies, many of which have gone on to become leaders in their respective industries. Of these companies, over 160 have become publicly held, with a current market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. in excess of $80 billion, while another 80 have merged successfully with other companies. Greylock's recent investments include OpenMarket (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : OMKT), Red Hat Software (NASDAQ: RHAT RHAT Red Hat (stock symbol) RHAT Rainwater Harvesting Association of Tanzania RHAT Register Hba Attributes ), DoubleClick (NASDAQ: DCLK DCLK Doubleclick Inc. (stock abbreviation, AMEX) DCLK Deputy Clerk DCLK Digital Clock DCLK Double Click ), Phone.Com (NASDAQ: PHCM PHCM Master Chief Photographer's Mate (Naval Rating) ), and Media Metrix (NASDAQ: MMXI MMXI Media Metrix ). Additional information on Greylock is available via http://www.greylock.com. About Weston Presidio Capital Weston Presidio Capital is an investment partnership which invests equity capital into second-stage and later-stage, privately held growth companies. With approximately $1.0 billion under management, Weston Presidio's strategy is to originate investment opportunities in a diverse set of industries and companies operated by management teams with proven records of success. The firm's recent information technology and telecommunications investments include Airspan Communications, Digital Commerce, Dolphin Telecommunications, FPiX, Geneology.com, Intellispace, Mapquest.com (NASDAQ: MQST), Medscape (NASDAQ: MSCP MSCP Mass Storage & Control Protocol MSCP Multi-Storey Car Park MSCP Multi-Species Conservation Program MSCP Managed Services Channel Program (Cisco) MSCP Master of Science in Counseling Psychology MSCP Microsoft Certified Professional ), Picture Works Technology, Quidnunc quid·nunc n. A nosy person; a busybody. [Latin quid nunc?, what now? : quid, what; see kwo- in Indo-European roots + nunc, now; see Group, RedEnvelope, Rocket Network, Saltare.com, Tavolo, Virage and Vitria Technology (NASDAQ: VITR VITR Vitria Technologies (stock symbol) VITR Visible and Thermal Infrared Radiometer ). Additional information on Weston Presidio Capital is available via http://www.westonpresidio.com. About i-Hatch Ventures i-Hatch Ventures is the premier seed-stage venture capital fund in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and the first professional investment firm dedicated to promising early-stage ventures in the Northeast. Three partners -- Chip Austin, Brad Farkas and Derek Reisfield -- each of whom is experienced in building and operating successful Internet companies, formed the company in 1999. An advisory board comprised of 25 Internet industry executives compliments the management team. i-Hatch has made more than 35 investments in companies spanning e-commerce, content, network infrastructure, web enabling technologies and web services. The company recently raised its second fund in the amount of $150 million from corporations, institutions and individuals. Additional information on the i-Hatch portfolio, team and advisory board is available via http://www.i-hatch.com. About @hoc @hoc provides customized Customer Retention Solutions for partner websites. The company's first integrated product, the @hoc toolbar A row or column of on-screen buttons used to activate functions in the application. Many toolbars are customizable, letting you add and delete buttons as required. Toolbars may be fixed in position or may float, which means they can be dragged to a more convenient location in the , incorporates the features and functionality of partner websites directly into the desktop browser, empowering users with unprecedented direct access and ease of use. Partners who launch a toolbar powered by @hoc obtain a constant interactive relationship with their users, while extending the reach of their brand directly to the user's desktop. @hoc is a member of the TRUSTe Privacy Program, and works only with companies who are advocates of strict consumer privacy guidelines. Founded in 1999, @hoc currently has offices in San Francisco, Boston, and Tel Aviv. Additional information is available via http://www.athoc.com. |
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