BizLand.com Raises $11.5 Million in Funding From BancBoston Ventures and Advanced Technology Ventures.Business/Technology Editors BURLINGTON, Mass.--(BUSINESS WIRE)--April 5, 2000 Funding Fuels Aggressive Business Expansion to Serve its Growing Base of 425,000 Members BizLand.com(TM), the leading Internet hub for small business, today announced that it has secured $11.5 million of institutional financing. BancBoston Ventures, a unit of FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. , and Advanced Technology Ventures led the round with Alta Communications and Series-A private investors participating. Proceeds from the investment are dedicated to increasing BizLand.com's marketing and business development efforts and expanding its technology infrastructure. "The small business market represents one of the most attractive markets in the business-to-business space and BizLand.com's approach provides a complete solution for small businesses," said John Doggett John Jay Doggett (b. April 4, 1960 Atlanta, Georgia) is a fictional character on the TV series The X-Files, played by actor Robert Patrick of fame. Robert Patrick appeared in the opening credits of Seasons 8 and 9. , director, BancBoston Ventures. "We are excited to work with BizLand.com's talented management team and contribute to the Company's increasingly prominent position in this market space." "With over 425,000 members, BizLand.com has achieved significant momentum in the rapidly growing small business market," said Michael Frank, general partner, Advanced Technology Ventures. "BizLand.com understands what small businesses need to succeed and is providing them with the Web-based services and intelligence that enable them to thrive in a fiercely competitive economic environment." "BizLand.com is dedicated to the success of our members and this financing provides the capital we need to continue delivering on this mission," said Steve Sydness Steven "Steve" Sydness, born c. 1956, is a politician and businessman who was a North Dakota Republican Party candidate for one of North Dakota's United States Senate seats in 1992, and is the current CEO of the Endurance International Group in Massachusetts. , 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 BizLand.com. "We are thrilled with the caliber of our financial partners and appreciate their commitment to the future success of BizLand.com and our members." Advanced Technology Ventures Founded in 1979, Advanced Technology Ventures is a leading venture capital firm focusing on opportunities in Internet, communications and health care opportunities. ATV's management experience, technology expertise, global network of industry contacts and collaborative style has helped more than 125 companies navigate from inception to IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and beyond. With approximately $750 million under management, ATV's investment philosophy centers on collaborative, active participation with the management teams of its portfolio companies. For more information, visit www.atvcapital.com. BancBoston Ventures BancBoston Ventures, a unit of FleetBoston Financial (NYSE NYSE See: New York Stock Exchange : FBF FBF Forearm Blood Flow FBF Frankfurt Book Fair FBF Feedback Form FBF Frame by Frame (animation technique) FBF FleetBoston Financial Corporation (stock symbol) FBF Fundamental Baptist Fellowship ), has been providing expansion capital to emerging growth companies since 1959. Today, it has roughly $300 million invested in over 75 Internet-focused technology companies worldwide. With offices in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Boston, London, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. , and Sao Paulo, BancBoston Ventures brings 40 years of venture capital experience, a global network of contacts, and close affiliation with the premiere investment bank Robertson Stephens to each investment opportunity. BancBoston Ventures' investments include Allaire, Arbinet, Buildnet, idealab!, Internet Capital Group, Netmind (Puma), OnDisplay, Opus360, Silknet, Versata, and Viant. Alta Communications Alta Communications ("Alta") is a venture capital firm specializing in equity investments in media, telecommunications and Internet services companies. Through a series of Alta limited partnerships, as well as at Alta's predecessor firm, Burr burr (bur) bur. burr n. Variant of bur. burr 1. a plant seed capsule carrying many hooked structures which catch in animal coats thus promoting dissemination of the plant. , Egan, Deleage & Co, the investment professionals at Alta have been one of the most active investment teams in the communications industries communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. over the last two decades working with companies at all stages of development (start-ups to established businesses). We leverage our broad knowledge, extensive network of contacts, and industry expertise to provide supportive, value-added guidance to help our portfolio companies realize their growth objectives. Alta currently manages over $1 billion in capital and has invested in over 100 portfolio companies. For more information, visit www.altacomm.com. BizLand.com, Inc. BizLand.com (www.BizLand.com) is the leading Internet hub for small business, created to enable small companies to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the power of e-business. The Burlington, MA company provides its growing customer base with a complete array of free Web-based services like Web site hosting, e-commerce storefronts, business promotional tools and other Internet services for the small business entrepreneur. BizLand.com also cultivates a strong small business community through its forums, articles, message boards, advice from industry experts, as well as discounts on business products and services. Since its launch in July 1999, BizLand's membership community has skyrocketed to over 425,000 members. All trademarks, service marks and company names are the property of their respective owners |
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