Demandline.com Secures $10 Million in Series a Funding From Premier VC Firm; Company will use funding to expand service offerings, marketing efforts and bolster recruitment.Business Editors SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--March 21, 2000 Demandline.com, a leading provider of core business services that helps fast-growing businesses get significantly lower prices from nationally branded service providers through an innovative group-buying process, today announced that it has secured a total of $10 million in Series A venture financing. The financing round was led by New Enterprise Associates (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ) with individual investments received by Sam Kinney, executive vice president, FreeMarkets, Inc.; Thomas Layton, co-founder, CitySearch; Glen Meakem, 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. FreeMarkets, Inc.; Thomas Proulx, co-founder, Intuit in·tu·it tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem To know intuitively. [Back-formation from intuition. , Inc. and current president and CEO, Netpulse Communications, Inc; West Shell III, CEO, Netcentives; and Yoav Shoham, founder, TradingDynamics. Additional investors include Angel Investors, LP and WS Investments. The additional funding will be directed toward broadening Demandline.com's service offerings, increasing the company's marketing efforts and broadening its world-class team. "Demandline.com's approach is a historic step forward for small businesses everywhere," said Mark Perry Mark Perry is the name of:
"Partnering with a world-class firm like NEA brings Demandline.com not only the capital to support a global marketing strategy, but the operating expertise so critical to helping us move even faster," said Patrick Burns The name Patrick Burns may mean:
n. 1. The capacity, as of a weapon, weapons system, military unit, or position, for delivering fire. 2. The ability to deliver fire against an enemy in combat. Noun 1. of NEA behind us." Demandline.com utilizes an unmatched group buying approach, in which small businesses pool their demands for core business services including long-distance telephone, high-speed Internet See broadband. , Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , mobile phone, paging, payroll, 401(k), express delivery, corporate credit cards and credit card processing. Demandline.com only works with top-tier service providers such as Cable & Wireless USA, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , PageNet, SkyTel and WebLink Wireless to bid for entire "pools" of demand. About Demandline.com Headquartered in San Mateo, Calif., Demandline.com was founded in June 1999 by Internet veterans Patrick Burns and Robert Schulman in an effort to improve the way small businesses buy core business services. Using its patent-pending process, Demandline.com aggregates the demand of thousands of companies and conducts a private reverse auction to secure the best value in cost and quality for participants. Unlike other Web sites, which primarily offer hard goods, Demandline.com is focused on providing growing businesses with competitively priced business services delivered by nationally-branded service providers. Demandline.com offers a broad spectrum of business services including telecommunications, financial, personnel, logistics and more. About New Enterprise Associates New Enterprise Associates (NEA) is one of the industry's premier 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] . For 21 years, NEA has practiced classic venture capital by investing in early-stage companies and working with management to nurture and build companies of real and lasting value. NEA is now the leading start-up venture investor in the country. NEA shares characteristics with other venture firms but differs in many ways: its size and scope, the number of successful companies it has financed, its geographic reach, the experience and expertise of its partners and its commitment to its entrepreneurs and their companies. Since inception in 1978, more than 100 NEA companies have gone public, over 60 since 1991. Demandline.com is a trademark of Demandline.com, Inc. All other trademarks are the property of their respective holders. |
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