Canopy International Receives $9.2 Million in Venture Capital From Edison Venture Fund; Leading B2B Integration Services Provider to Fund Operations Expansion.Business/Technology Editors NEWTON, Mass.--(BUSINESS WIRE)--July 12, 2000 Canopy International, an international professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. company specializing in enterprise and business-to-business integration services, today announced that it recently completed a $9.2 million round of financing led by Edison Venture Fund. Also participating in the financing were Longworth Venture Partners, Raymond James  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Capital and NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corporation. Canopy will use the funding to expand its global marketing and sales operations and also to fund its continued growth. While the Internet has opened up sales channels to the world, many organizations are finding their business and technology infrastructure unable to support the demands of Internet-speed business. Developing an industrial-strength infrastructure to support the need for cross-business collaboration, instant information flow, and continually improving customer value requires careful planning and specialized experience. Canopy specializes in the enterprise and B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business connections that require the strength, scalability and standardization standardization In industry, the development and application of standards that make it possible to manufacture a large volume of interchangeable parts. Standardization may focus on engineering standards, such as properties of materials, fits and tolerances, and drafting necessary to enterprises, trading exchanges, application service providers, and software companies. "Electronic commerce creates the conditions necessary to improve the speed and enrich the quality of a company's communications with its suppliers, distributors, services, and customers. This means that companies need a framework that communicates with external enterprises and organizations," said John Martinson, Managing Partner of Edison Venture Fund. "Canopy has the integration experience, application knowledge, and methodology that can enable, extend, and enrich their clients' e-business initiatives." "Companies have made major investments over the years in their internal enterprise applications; few have made investments to connect their front- and back-office applications together with their e-business applications," said Charles Searight, President and 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 Canopy International. "Canopy has built its experience, skills, management team, and culture around helping companies thrive under the intense demands of the e-world." As evidence of Canopy's experience in helping companies develop B2B infrastructure strategies, the firm and its eBusiness integration laboratory was recently chosen by the leading XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. standards organization A standards organization, also sometimes referred to as a standards body, a standards development organization or SDO (depending on what is being referenced), is any entity whose primary activities are developing, coordinating, promulgating, revising, amending, , the Open Applications Group, to host its Vendor Challenge. The event will showcase B2B interoperability between industry-leading software applications. Canopy's lab contains the latest versions and features of various software applications, and offers clients the ability to dramatically accelerate the development of B2B solutions. John Martinson will join Canopy's board of directors. John brings over 20 years of venture capital experience in computer software/services and electronic systems, and he has participated in over 150 equity financings Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . In addition to being managing partner at Edison Venture Fund, John is chairman of the National Venture Capital Association and founder of several entrepreneurial organizations. About Canopy International Canopy International is a global provider of business-to-business integration services that helps its clients maximize their investments in e-business technology. Canopy provides full lifecycle integration services--including strategy, architecture, implementation and maintenance--that result in scalable, industrial-strength connectivity solutions accelerating information flow through the entire value chain. Canopy has delivered connectivity solutions for such customers as Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. , Avon Products Avon Products, Inc. NYSE: AVP is a US cosmetics, perfume and toy seller with markets in over 135 countries across the world and sales of $8.1 billion worldwide as of 2005. , BarnesandNoble.com, CommerceQuest, PaperExchange.com, Shell Chemical and Warner-Lambert Company. For more information, visit www.canopyint.com or call 617-796-5400. About Edison Venture Fund Edison Venture Fund provides financing and guidance to growing companies. The firm manages $280 million with a focus on information technology, including software, Internet, communications and electronics. With offices in New Jersey, Pennsylvania and Virginia, Edison has invested in more mid-Atlantic region companies than any other private equity firm. For more information, visit www.edisonventure.com or call 609-896-1900. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion