BlueGill Technologies Gets $5.8 Million in New Investment From Menlo and Morgenthaler.ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich.--(BUSINESS WIRE)--June 17, 1998-- Internet Bill and Statement Presentment presentment: see indictment. Business Attracts Funding to Expand Product, Sales and Marketing Programs BlueGill bluegill: see sunfish. bluegill Popular game fish (Lepomis macrochirus) and one of the best-known sunfishes throughout its original range, the freshwater habitats of the central and southern U.S. It has been introduced throughout the western U.S. Technologies, Inc., the leading Internet bill and statement presentment firm founded here in 1996, announced a new $5.8 million round of financing. BlueGill's software product, the 1to1Server(TM), enables the transformation of legacy bills and statements into interactive Web applications. The group of investors is led by two nationally recognized 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] -- Menlo Ventures of Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA and Morgenthaler Ventures of Cleveland, OH. Menlo Ventures has made investments in a number of successful software and high tech companies, among them Infoseek, Ascend, HotMail and UUNet. Morgenthaler has made early stage information technology investments in several successful national firms including Apple Computer, Microchip (1) Another term for a microminiaturized integrated circuit (a "chip"). (2) To insert an RFID tag beneath the skin of an animal. It is expected that some day, humans will be microchipped. , Premisys and Atria Atria The heart has four chambers. The right and left atria are at the top of the heart and receive returning blood from the veins. The right and left ventricles are at the bottom of the heart and act as the body's main pumps. . "We are especially pleased to attract this type of investment from Menlo and Morgenthaler because it verifies that we're on the right track with the development of our business, markets and products," said Hal Davis, president and chief executive of the two-year-old firm. "We look to invest in companies that are leaders in large, emerging markets," said Mark Siegel, a partner in Menlo Ventures. "BlueGill is clearly the number one company in the emerging bill and statement presentment arena, with superior technology and a winning team. We believe that BlueGill has the best solution to a real business problem, a solution that promises immediate hard-dollar returns on investment for customers." "We always seek companies with products and technologies that can be competitive across the U.S. and internationally," said Bob Pavey, partner of Cleveland-based Morgenthaler Ventures. "BlueGill is clearly the international leader in the bill and statement presentment area. This is an emerging technology that has great promise among financial service companies, phone companies, utilities and other businesses where mass billing and statement presentment are done. We also like the company because of the broad international experience of its management." Rick Crandall, managing partner of Arbor Partners who provided earlier financing for BlueGill in 1997, said, "We saw the promise of BlueGill's technology as leading edge and know that electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
"BlueGill has excellent product vision and the entire company executes on that vision," said Cynthia Ward, vice president of marketing and product development for Vestcom International, a document management solutions provider. She said Vestcom uses BlueGill's 1to1Server to provide Internet application delivery solutions to its customers. About BlueGill Founded in 1996, BlueGill Technologies is a software development company with headquarters in Ann Arbor, MI. BlueGill's products enable the transformation of legacy documents into interactive web applications. Customers include banks, brokerage services, telecommunications companies See telecom company. , utilities, and service bureaus. BlueGill's web page can be found at www.bluegill.com.
CONTACT: BlueGill Technologies
Hal Davis, 734/426-5894
or
Eiler Communications
Larry T. Eiler, 734/761-3399
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion