ChannelAdvisor Closes $5.7 Million in Funding; Genesis and Leading Investors Fund ChannelAdvisor.Business Editors RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Jan. 29, 2002 ChannelAdvisor Corporation, the leading provider of enterprise marketplace management solutions, today announced that it has closed $5.7 million in funding led by Boston based Genesis Venture Partners, L.P. (GVP GVP Genesys Voice Platform GVP General Voters Party (Fiji) GVP Gasoline Vapor Pressure GVP Global Vision for Peace GVP Global Visualization Process ). Other investment firms included in this round are Southern Capitol Ventures, Tri-state Investment Group and The Atlantis Group in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and eBay, Inc. (Nasdaq:EBAY). "We invested in ChannelAdvisor because of their unique and proven technology and services, strong management team and business momentum with major partners," said Rashid Ashraf, a partner with GVP. "The company has the ability to be the leader in enterprise marketplace management services which enable retailers and manufacturers to increase sales, acquire new customers and maximize yield on their excess, refurbished and returned inventory." ChannelAdvisor provides services and technology that enables manufacturers and retailers to sell on the Web's leading, liquid marketplaces. Combining expertise in the dynamics of consumer marketplaces with ground-breaking integration technology, ChannelAdvisor's enterprise products deliver effective, scalable marketplace management solutions to leading retailers, manufacturers and direct marketers. ChannelAdvisor's clients are leading companies in multiple categories including IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Ingram Micro Ingram Micro, Inc. NYSE: IM a Fortune 100 company founded in 1979 and based in Santa Ana, California. It is the world’s largest technology distributor and a leading technology sales, marketing and logistics company. , Acer Acer trees of the family Aceraceae. Acer rubrum ingestion of wilted or dries leaves of this tree causes acute hemolytic anemia characterized by red urine, jaundice, anemia and methemoglobinemia in horses. , Crucial Technologies and Iomega in the computer and peripherals category. Numerous consumer electronic companies use ChannelAdvisor's services to sell on eBay including Creative Labs, Econozone, Handspring, Harman Audio and Kodak. West Marine, Rollerblade and Sportif USA are a few sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport companies selling through ChannelAdvisor. The Home and Garden category on eBay has several companies selling through ChannelAdvisor including AKA Gourmet, New Vine Logistics, Omaha Steaks Omaha Steaks is a family business based in Omaha, Nebraska that manufactures, markets, packages, and distributes premium beef, seafood and other foods. It was founded in 1917 by Latvian emigrants J.J. and B.A. , Restaurant.com, WineTasting wine·tast·ing n. A gathering of people to taste and compare a number of wines. .com and Bargain Builder. Samsonite is another company that trusts their brand to ChannelAdvisor's service-driven approach to managing online sales. "Given the current funding environment, we are especially pleased to have a round of funding larger than our expectations and also including a strong mix of national, regional and strategic investors," said Scot Wingo, 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. and President of ChannelAdvisor. "We have had strong traction in the computer and consumer electronics categories and this round allows us to not only deepen our lead there, but also expand aggressively into other categories." "Scot Wingo and his veteran management team have a very successful track record and we were proud to be the first local VC to commit to this round," said Ben Brooks Ben Brooks is a Republican member of the Alabama Senate, representing the 35th District since 2007. External links
About ChannelAdvisor Corporation ChannelAdvisor provides technology and services that enable industry-leading companies to use online marketplaces to acquire customers and maximize inventory yield. Our solutions combine best practices, innovative software applications and integration technology to dramatically accelerate marketplace performance. ChannelAdvisor's customers and strategic alliances include Ingram Micro, West Marine, Omaha Steaks, eBay, Yahoo! and Amazon Auctions. ChannelAdvisor recently completed a round of funding from several prominent investors including Genesis Venture Partners (GVP), Southern Capitol Ventures, Tri-state Investment Group, The Atlantis Group and eBay. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC. For more information visit http://channeladvisor.com/. About Genesis Venture Partners, LP Genesis Venture Partners, LP (GVP) is a venture capital fund formed to provide capital investments and debt placements in small to mid-sized private companies and leverages a full range of proven operational expertise and business building skills to enable portfolio companies to improve their likelihood of success. In addition, GVP purchases viable debt in troubled public and private companies where existing creditors are looking to exit at a significant discount. GVP also purchases individual assets with recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenue streams, such as intellectual property and royalty payments from distressed technology companies. For more information visit http://www.genesistf.com/. |
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