ChannelAdvisor Raises $18 Million in Additional Financing; Additional Funding to Fuel Aggressive Expansion.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. -- ChannelAdvisor, the leading provider of channel management solutions (CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. ), announced today that it has secured $18 million in additional funding, led by Advanced Technology Ventures, a venture capital firm focusing on information technology. Advanced Technology Ventures joins Kodiak Venture Partners, Blue Sky Ventures, eBay (Nasdaq:EBAY), Tri-state Investment Group and Southern Capitol Ventures as investors. ChannelAdvisor will use this funding to accelerate and expand its global marketing and sales, in addition to seeking opportunities for strategic acquisitions that could help meet ChannelAdvisor's accelerated growth, customer demand and its overall market opportunity for channel management solutions. In addition, ChannelAdvisor will expedite development and evolution of its technology platform and penetrate new markets with this funding. "We have been watching the broader e-commerce space and believe channel management solutions (CMS) will see explosive growth in the near future," says Bob Hower, Partner of Advanced Technology Ventures. "We are investing in ChannelAdvisor because we believe in the growth potential of the company and in particular want to support the company's global expansion plans, as well as the strengthening of its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market presence." Bob Hower of Advanced Technology Ventures joins ChannelAdvisor Board of Directors. Other board members include John Abraham of Kodiak Ventures, Rashid Ashraf of Blue Sky Ventures, Tim Buckley For other persons named Tim Buckley, see Tim Buckley (disambiguation). Timothy Charles Buckley III (February 14, 1947 – June 29, 1975) was an experimental vocalist and performer who incorporated jazz, psychedelia, funk, soul, and avant-garde rock in a short career and Richard Holcomb. "This round will enable us to reach our goal and vision of Helping the World Sell Online," says 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. "This fund-raising follows two of the strongest quarters in the company's history and we just hit our first quarter of over $1 billion of global Gross Merchandise Value (GMV GMV Game Music Video GMV Gross Merchandise Value GMV Ground Mobility Vehicle (US Army special operations vehicle) GMV Gross Metal Value GMV Got My Vote GMV Good Morning Vietnam GMV Generalized Minimum Variance ) annual run rate," says Scot Wingo, CEO and President of ChannelAdvisor. About ChannelAdvisor Corporation ChannelAdvisor provides technology and services that enable industry-leading companies, small businesses and individuals to use online marketplaces to acquire customers and maximize inventory yield throughout the product lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. . Our solutions combine best practices, innovative software applications and integration technology to dramatically accelerate marketplace performance. ChannelAdvisor's clients and strategic alliances include 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) , Best Buy, Sears, Motorola, eBay, Overstock.com, Yahoo! and Amazon.com. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC with an office in London and Germany. For more information, visit http://www.channeladvisor.com/. About Advanced Technology Ventures Founded in 1979, Advanced Technology Ventures (ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. ) is a bi-coastal venture capital firm with more than $1.4 billion in capital under management. We work closely with entrepreneurial teams in several technology markets, including communications, IT infrastructure, software and services, and healthcare technologies, to build emerging-growth business ventures into market leaders. With more than 25 years of experience, ATV has a proven track record of success in helping to build strong, sustainable business enterprises. For more information, please visit our Web site at www.atvcapital.com. |
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