Cardonet Secures $9 Million Round of Financing From Sequoia Capital; Company to Accelerate Deployment of B-to-B Catalog Content Aggregation Solution.Business and Technology Editors SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif--(BUSINESS WIRE)--May 2, 2000 Cardonet, Inc. (www.cardonet.com), the definitive provider of catalog content aggregation solutions for business-to-business e-marketplaces, today announced that Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. 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. , Calif. has agreed to invest $9 million to help the company expand its sales and marketing efforts. The Sequoia investment is Cardonet's largest source of funding since it was founded in 1997 and brings the total amount raised by the company to $14.5 million. It will allow Cardonet to meet increased demand for its MarketStand Suite 2.0 catalog content aggregation product. "We're very pleased to announce backing from such a high caliber venture capital group, not only for the financial resources received, but also for the validation of our management, operations, and long-term business plan that it provides," stated Dr. Itay Mieri, 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 Cardonet. "Cardonet provides a crucial component for B-to-B marketplaces, helping companies create and manage transactive catalogs and improving the efficiency of Internet procurement. Sequoia has obviously recognized the importance of this essential need as well as Cardonet's position as a leader in this industry." Cardonet solves one of the most significant challenges e-marketplaces face -- how to create and manage a catalog that facilitates e-commerce among buyers and sellers. The reliability, accuracy, and structure of product information in the catalog are critical to an e-marketplace's viability. Cardonet enables a truly transactive catalog that is clean, well-organized, and provides rapid access to product information as well connections to other applications needed to complete the purchase transaction. "Cardonet is one of the best kept secrets in the B-to-B infrastructure space," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mark A. Stevens, general partner at Sequoia Capital. "They've been working for three years under the radar This article is about the magazine. For other uses, see Under the Radar (disambiguation). Under the Radar is an American magazine that bills itself as "The solution to music pollution." It features interviews with accompanying photo-shoots. with a set of top-notch engineers to develop the most advanced solution for automating the B-to-B transactive catalog management process. "We fully expect that Cardonet will accelerate exponentially the fundamental changes that Web-based procurement exchanges are bringing about to the economy." About Cardonet: Founded in 1997 and headquartered in Santa Clara, Ca., Cardonet, Inc., (www.cardonet.com) combines unmatched expertise with superior technology to provide the definitive catalog content management solution for business to business e-marketplaces. Cardonet enables e-marketplaces to create and maintain transactive catalogs that enhance the buyer's experience, and increase marketplace transactions resulting in repeat customers and reduced time-to-market. Cardonet's growing list of leading customers and strategic partners include Ariba, Asera, Consolidated Commerce, Cross Commerce, Epylon, Idapta, Intershop, Sherwood Forest Sherwood Forest, formerly a large royal forest, mainly in Nottinghamshire, central England. Remnants of the forest exist near Mansfield and Hucknall; efforts began in the 1990s to replant and expand it. It is famous as the haunt of Robin Hood and his band. , and Yantra Yantra is a Sanskrit word that is derived from the root meaning "to restrain, curb, check".[1][2] Meanings for the noun derived from this root include "that which restrains or fastens, any prop or support", "a fetter", "any instrument or machine", "an . Privately held, Cardonet is funded by leading 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] including Sequoia Capital, Giza GE Capital and Yozma Venture Capital. About Sequoia Capital: Steve Jobs and Steve Wozniak (Apple Computer), Larry Ellison (Oracle), Sandy Lerner and Len Bozack (Cisco Systems), Jerry Yang and David Filo (Yahoo!), Michael Robertson (MP3), Louis Borders (Webvan), Wilf Corrigan (LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. Logic), Bob Swanson (Linear Technology), Eric Greenberg and Bob Howe (Scient) are just a few of the people who have chosen Sequoia Capital to provide their original start-up venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends and, more importantly, help turn their ideas into companies. The people backed and supported by Sequoia Capital since 1972 have built companies that now have a combined market value approaching one trillion dollars ($800B). Sequoia Capital's Internet portfolio includes: eToys, NextCard, eGroups, PlanetRx, Chipshot, E-Loan, LinkExchange (acquired by Microsoft), AtWeb (acquired by Netscape), BillPoint (acquired by eBay) and Global Center (acquired by Frontier). For more information visit the Sequoia Capital website at www.sequoiacap.com. |
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