Datanautics Secures $6.1 Million in First Round of Funding.Business 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)--Feb. 17, 2004 Datanautics, a leading provider of analytic solutions that help companies effectively use the Internet to build long-term, multi-channel customer relationships, today announced it has secured $6.1 million in its first round of funding. The company is using the proceeds from this round to acquire the assets of Accrue To increase; to augment; to come to by way of increase; to be added as an increase, profit, or damage. Acquired; falling due; made or executed; matured; occurred; received; vested; was created; was incurred. Corporation and to expand its product development and sales and marketing teams. Participating in the round are leading venture funds Excelsior Venture Partners III, llc, a venture fund managed by U.S. Trust, Huntington Technology Fund, LP a venture fund managed by Huntington Ventures, LLC ("Huntington") and Berg & Berg, LLC. U.S. Trust is a premier wealth management company serving affluent individuals, families and institutions nationwide. Both, Berg & Berg, LLC, a Private Investor, and Huntington, an institutional investment firm, provide comprehensive support to early-stage companies in the highly competitive sectors of information technology and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. . "The investment opportunity with Datanautics is truly exceptional. We rarely see such a rich combination of experienced management, mature product, and marquee customers," said David Fann, a managing director of U.S. Trust. "We are confident that P.K. Karnik and his team will deliver world class business analytics tools that uniquely meet the needs of the company's clients," he added. "At Huntington we look for companies that have a large addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be market, an attractive business model and a team that can execute. Datanautics has these attributes in abundance. With a strong initial customer base, Datanautics has an excellent platform and now resources to build-enhanced product that provide greater benefits to their customers. We are looking forward to working with their team to insure the company's success," stated Scott Burri, Managing Partner at Huntington Ventures. Both Mr. Fann and Mr. Burri are joining Datanautics' board of directors, on which Mr. Fann will serve as chairman. Also joining the board are Raghav V. Nandagopal, a senior vice president of U.S. Trust, and Tim Unger, Founder and Managing Principal of consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a OnTrack Advisors and Consulting in Human Capitalism. About Datanautics Datanautics' solutions transform volumes of complex Internet data into actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. information that executives and managers use to drive key business decisions and improve the return on their Internet investment. Customers include industry leaders such as Citicorp, Eastman Kodak, Lands' End
LYCOS Europe is a pan-European network of websites, offering a broad variety of content channels and online services, e.g. communication tools & communities, websearch, e-commerce, webhosting, homepagebuilding and Internet access. and Deutsche Telecom. |
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