HighWired.com Receives $30 Million in Venture Capital Financing; Charles River Ventures and North Bridge Venture Partners Lead Second Round of Funding.Business/Technology Editors WATERTOWN, Mass.--(BUSINESS WIRE)--March 27, 2000 HighWired.com, the world's largest community of online high schools, today announced that it has raised $30 million in venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends . Charles River Ventures and North Bridge Venture Partners, who led investors in the first round of financing for HighWired.com, once again co-lead in this second round, in which HighWired.com receives investments from Broadband Ventures Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Arcadia Partners, Comdisco Ventures, Longworth Venture Partners and Haebler Ventures. "We view this second round of financing from such established investors as validation of HighWired.com's business model and approach to enhancing all aspects of high school life with Internet technologies," said Don Young, president and 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 HighWired.com. "HighWired.com is well positioned to stay at the forefront of the industry. With this funding, we are equipped to continue our momentum on the tails of one acquisition, to continue building our internal resources, acquire new technologies and launch our e-commerce initiative." "HighWired.com is emerging as the clear category leader in the rapidly developing market for Internet technologies in the classroom," said Ted Dintersmith, general partner, Charles River Ventures. "Charles River Ventures is impressed with HighWired.com's ability to execute on an aggressive plan to provide our nation's high schools with powerful Web-based and telephony-based content, community and e-commerce capabilities. The company is positioned to become one of the Internet's most influential and important companies of the future." "We are pleased to be working with HighWired.com for a second round of financing," said Ed Anderson, managing general partner, North Bridge Venture Partners. "With over 9,000 schools in its network, and a strategic business plan to develop and acquire technology and content, HighWired is the clear leader in the online education market for grades 7 through 12." About Charles River Ventures With market-leading trademark investments, such as Be Free (Nasdaq:BFRE BFRE Besoin en Fonds de Roulement d'Exploitation (French: Working Capital Requirement for Exploitation) ), Flycast (Nasdaq:FCST FCST Forecast FCST Federal Council for Science and Technology , then acquired by CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) ), Vignette (Nasdaq:VIGN VIGN Vignette Corporation (stock abbreviation, AMEX) ), CIENA (Nasdaq:CIEN CIEN Ciena Corporation (stock symbol) ) and iBasis (Nasdaq:IBAS), net.Genesis (Nasdaq:NTGX), Versata (Nasdaq:VATA vata /va·ta/ (vah´tah) [Sanskrit] in ayurveda, one of the three doshas, condensed from the elements air and space. It is the principle of kinetic energy in the body, is concerned with the nervous system and with circulation, movement, ), and Excite (Nasdaq: ATHM ATHM Excite@Home (NASDAQ symbol) ATHM Alternative Therapies in Health and Medicine ATHM American Textile History Museum (Lowell, MA) ). Charles River Ventures (www.crv.com) is one of the industry's preeminent early-stage 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] . The firm focuses on funding and guiding young companies that are building the Internet infrastructure and the businesses that run on it. Beyond pure financial investments, Charles River Ventures helps build companies that are first in - and first to - their markets by providing the corporate development guidance, expertise and experience necessary to help young companies accelerate time to market to become tomorrow's market leaders. Since its establishment, Charles River has provided capital and guidance to more than 250 companies. About North Bridge Venture Partners North Bridge Venture Partners (NBVP NBVP North Bridge Venture Partners (Massachusetts) ), is a leading venture capital firm focusing on active, early-stage software, communications, Internet and e-health companies. Based in Waltham, Massachusetts, NBVP provides strategic guidance, industry-specific knowledge, team-building skills, and an in-depth understanding of both private and public financings. North Bridge's investments include: Silver Stream Software; SQA SQA Scottish Qualifications Authority SQA Software Quality Assurance SQA Supplier Quality Assurance SQA Society of Quality Assurance SQA Singapore Airlines SQA Sperm Quality Analyzer SQA System Quality Assurance SQA Statistical Quality Analysis ; Instinctive Technology; FirstSense Software; New Oak Communications; Argon argon (är`gŏn) [Gr.,=inert], gaseous chemical element; symbol Ar; at. no. 18; at. wt. 39.948; m.p. −189.2°C;; b.p. −185.7°C;; density 1.784 grams per liter at STP; valence 0. Networks and Redstone Communications, both acquired by Siemens; Sycamore Networks; SupplyWorks; eBenX; and Centra Software. About Broadband Ventures Group LLC Broadband Ventures Group (BVG BVG Bundesverfassungsgericht (highest German court) BVG Bureau du Vérificateur Général du Canada (auditor general) BVG Best Value Guarantee BVG Berliner Verkehrs Gesellschaft BVG Borrowdale Volcanic Group ) is a venture capital firm focusing on early-stage companies developing infrastructure and services for the Internet and broadband industry. Based in Boston, BVG's investment professionals include former executives of Continental Cablevision, Inc. with significant operating, technology and finance experience. BVG focuses on providing portfolio companies with strategic guidance and industry-specific knowledge and contacts. About Arcadia Partners DHM DHM Deutsches Historisches Museum (Berlin) DHM Deutsche Harmonia Mundi DHM Digital Human Modeling DHM Department of Hydrology and Meteorology (Nepal) DHM Deep Heat Mining DHM Diploma in Hotel Management Arcadia Partners (Arcadia), is the leading venture capital firm focused exclusively on the for-profit education and training industry. Arcadia's investments include: Lightspan Partnership (Nasdaq:LSPN), DigitalThink (Nasdaq:DTHK), Achieva College Prep Services, Docent, edu.com, Health Dialog, ParentWatch, Pensare, Project Achieve and Vista Associates. Arcadia's (www.arcadiapartners.com) investment strategy is to leverage its industry knowledge to develop themes from which to make investments, regardless of the stage of development from seed to acquisition. Arcadia adds value to its portfolio companies by leveraging its in depth knowledge and relationships within the for-profit education and training industry providing both strategic and corporate development guidance. Arcadia is based in Boston, Massachusetts. About Comdisco Ventures Comdisco Ventures, a division of Comdisco, Inc., has committed more than $1.5 billion in capital to more than 700 venture backed early stage companies since its inception. Comdisco Ventures provides creative capital structures through a wide variety of financing vehicles, including equipment leases, secured financing, subordinated debt, convertible debt and equity, to companies in the information technology and life sciences sectors. Comdisco Ventures has invested in such leading edge companies as Ariba, Vignette, E.piphany, Siara Systems and Human Genome Sciences Human Genome Sciences NASDAQ: HGSI is a biopharmaceutical corporation founded in 1992. Its stated purpose is to "discover, develop, manufacture and market innovative drugs that serve patients with unmet medical needs, with a primary focus on protein and antibody drugs. . About Longworth Venture Partners Longworth Venture Partners (www.longworth.com) is an active, early-stage technology venture firm which focuses on investments in four sectors--Internet Media, e-Commerce, Enterprise Software and IT Services. Based in the Boston area, Longworth Venture Partners is unique because of the depth of successful operating experience among its investment professionals. Longworth works closely with entrepreneurs to leverage that operating experience and to help guide and accelerate the growth of successful companies. Recent investments include SoftwareWOW.com, eMaven, Inc. and Digital Paper Corporation. About Haebler Ventures Haebler Ventures is a private equity firm with investments in a wide variety of industries, including early-and late-stage Internet and software companies. Representative venture investments by Haebler Ventures and its affiliates include NetGen Inc., PPI (1) (Pixels Per Inch) The measurement of the resolution of a monitor or scanner. For example, a monitor that is 16 inches wide and displays 1600 pixels across its width would have a resolution of 100 ppi (1600 divided by 16). Network, Inc., Tumbleweed Communications Corp. and DoubleClick Inc. About HighWired.com Launched in April 1998, venture-backed HighWired.com provides free Web-publishing tools for the five major areas of high school life: classrooms, activities, newspapers, guidance and sports. HighWired.com provides high schools within its network with easy-to-use interactive products that allow students, teachers, advisers, guidance counselors and coaches to participate in a collaborative online learning experience. HighWired.com partners with leading educational organizations to provide the highest quality products and services enabling the company to house the largest online international network of high schools. To date, the network includes over 9,000 schools in all 50 U.S. states and 64 foreign countries. HighWired.com is headquartered in Watertown, Mass. For more information about HighWired.com's products and services, please e-mail info@highwired.com or visit the Web site at www.highwired.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion