Cognistar Completes $2 Million Second Round Financing; Massachusetts Technology Development Corporation Primary Investor.Business/Technology Editors SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--March 13, 2001 Cognistar Corporation, leading producer of legal and corporate on-line education courses, announces completion of second round financing, totaling $2,000,000. Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. Technology Development Corporation, the primary investor, contributed $750,000-the venture capital group's maximum annual investment allowance for an individual company. The balance of the funding was provided by private investors. Stephen Henn, President & 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 Cognistar said, "I am pleased to have MTDC MTDC Missoula Technology and Development Center MTDC Modified Total Direct Cost MTDC Maharashtra Tourism Development Corporation (India) MTDC Malaysian Technology Development Corporation as our financial partner. Its history and tradition of supporting local technology ventures is second to none in Massachusetts. This expansion capital allows us to continue adding to our impressive list of corporate law firm customers, including Bingham, Dana; Milbank, Tweed, Hadley & McCloy; and Thelen, Reid & Priest. The funds will also help us further improve our 'best of breed' products, extend our technology and add staff." Kevin Nixon of MTDC added, "Cognistar's combination of prudent and experienced management, unique insight into its marketplace and a fundamentally solid business model is what attracted us and positions them to become a premier player in the e-Learning market." MTDC provides venture capital funding for start-up Start-up The earliest stage of a new business venture. and early stage technology companies. Since 1979, MTDC has invested more the $46 million in Massachusetts firms. As the technological leader delivering online continuing professional education, Cognistar Corporation produces the highest quality software and instruction available over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . Established in 1998, the company continues to build its market share in the legal education space while working with corporations and financial institutions in developing intranet based educational training solutions. Selling software and services that provide knowledge on demand, Cognistar combines a unique expertise in new media production, content integration and scalable, anytime, anywhere delivery. The technological delivery system supports organizations and individuals in satisfying demand for comprehensive answers to immediate business issues. The result is a customized solution that can meet knowledge needs ranging from on-the-spot training to accredited to attribute something to him; as, Mr. Clay was accredited with these views; they accredit him with a wise saying s>. See also: Accredit continuing education continuing education: see adult education. continuing education or adult education Any form of learning provided for adults. In the U.S. the University of Wisconsin was the first academic institution to offer such programs (1904). . |
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