AllBusiness.com Secures $12.4 Million in Series C Financing; Funding Led by Sutter Hill Ventures with Backing from VantagePoint Venture Partners and Reed Elsevier Ventures.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- AllBusiness.com AllBusiness.com is a private venture capital backed company that provides business information and resources for small businesses, those companies with fewer than 500 employees. The company also conducts research to measure the health and direction of the small business sector. , Inc. (www.allbusiness.com), a leading online resource for small and mid-size businesses, today announced it has secured $12.4 million in Series C financing. The Series C round was led by Sutter Hill Ventures and includes current investor, VantagePoint Venture Partners, as well as new strategic investor, Reed Elsevier Ventures. As a result of the financing, Greg Sands, managing director of Sutter Hill Ventures will join the Company's board.The collective investment in AllBusiness.com reflects the growing demand by small and mid-size business (SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. ) leaders for a Web site focused specifically on the needs of SMBs -- which make up 99 percent of all U.S. businesses. AllBusiness.com's recent Winter 2005 SMB State of the Union study indicated that 65% of SMB leaders rely on Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the search engines to aid decision making. The site's highly relevant content and focus on search engine optimization Designing a Web site so that search engines easily find the pages and index them. The goal is to have your page be in the top 10 results of a search. Optimization includes the choice of words used in the text paragraphs and the placement of those words on the page, both visible and hidden have positioned the Company perfectly to serve this audience. Over the past eight months, AllBusiness.com's monthly site visitors have more than doubled, highlighting the increasing market need for the company's expertise. "This funding will serve to accelerate AllBusiness.com's ability to provide a one-stop resource to the highly diverse and fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. audience of small and mid-size business leaders -- providing them with the information and advice most important to their growth and success," said Peter Horan Peter Horan (born 1926, Killavil, County Sligo) is an Irish flute and fiddle player who is known for having developed a unique style influenced by the local irish fiddling tradition. For nearly 30 years performed as a duet with the famous fiddler Fred Finn. , 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 AllBusiness.com. "We're thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. to be adding two terrific new investors -- Sutter Hill Ventures, one of the oldest and most respected venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in Silicon Valley and Reed Elsevier Ventures, an outstanding strategic investor with decades of global publishing experience and success." AllBusiness.com will use the funding to invest in audience growth, infrastructure development and product expansion. The company continues to expand the information and services available on its Web site and recruit more experts to provide exclusive content. The new funding will enable AllBusiness.com to focus on continuing its aggressive growth strategy and the building of strategic partnerships. AllBusiness.com is a leading online resource for small and mid-size businesses. The Company operates one of the Web's premier business sites, providing practical information and services for business professionals and growing businesses. The site includes how-to articles, business forms, contracts and agreements, expert advice, blogs, business news, directory listings, product comparisons, business guides and more. In addition to its flagship Web site, the Company's content can be accessed by its content syndication See syndication format. program, RSS feeds Summaries of Web site content that are published in the RSS format for download. See RSS. and e-mail newsletters. The AllBusiness.com management team has been involved in more than $4 billion of recent successful Internet company exits. www.allbusiness.com Sutter Hill Ventures has financed technology-based start-ups and assisted entrepreneurs in building market-leading companies since 1964. Through decades of experience, they have developed industry networks, considerable operating and venture capital experience, and an understanding of the challenges that early-stage and high-growth companies face. Sutter Hill Ventures offers expertise in developing business strategy and partnerships, building management teams, and financing companies in both public and private markets. www.sutterhillventures.com VantagePoint Venture Partners is among the leading venture firms in the world with more than $2.8 billion of capital under management. The Firm invests exclusively in technology driven companies and is organized around deep expertise and resources in five principal areas of interest: CleanTech, Communications, Healthcare, Semiconductors, and Software/Internet. VantagePoint is a multi-stage investor, investing in high growth businesses at all stages of development. The Firm supports each of its portfolio companies with the resources of a dedicated team of VantagePoint professionals able to contribute a blend of company building, technology, operations, marketing, and corporate finance expertise. www.vpvp.com Reed Elsevier Ventures is the venture arm of Reed Elsevier Group plc and was established in 2000. The Venture team is responsible for making investments in innovative companies that have the potential to provide the Group with new technologies, products, services or customers. Reed Elsevier's trusted brands, customer reach and ever increasing digital delivery make the Group an ideal commercial partner for emerging best-of-breed companies seeking market acceleration and a strong relationship with a leading global publisher. www.reedelsevier.com |
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