PlanSoft Receives $6 Million in Additional Funding to Drive Product Expansion to International Marketplace.Business Editors &Hi-Tech Writers CLEVELAND--(BUSINESS WIRE)--Jan. 24, 2000 PlanSoft Corporation, the leading Internet-based business-to-business solution provider in the $100 billion meeting and convention industry, announced that it has received $6 million in additional venture capital funding. The latest infusion expands the total third round of financing, first announced on November 22, 1999, from $24 million to $30 million and brings the overall investment in PlanSoft to $46 million. &uot;The additional capital provides PlanSoft the means to expand its international reach,&uot; said David Hunt David James Fletcher Hunt, Baron Hunt of Wirral, PC, MBE (born 21 May 1942), is an English Conservative politician, and was a member of the Cabinet during the Margaret Thatcher and John Major administrations. , PlanSoft 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. . &uot;We will now be able to offer meeting professionals even more comprehensive web-based tools and information to plan international meetings.&uot; &uot;Doll Capital Management (DCM DCM abbr. Distinguished Conduct Medal ) is excited about joining with PlanSoft at this juncture,&uot; said Peter Moran, Partner. &uot;We feel that PlanSoft is at the cusp of experiencing the rapid revenue growth that rewards b2b players who reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" an existing offline business process.&uot; The new investors are Doll Capital Management of Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , and Benefit Capital Management Corp. of Danbury, Connecticut “Danbury” redirects here. For other uses, see Danbury (disambiguation). Danbury is a city in Fairfield County, Connecticut, United States. It has an estimated population as of July 1, 2005 of 78,736. . &uot;We are pleased to be able to add the Internet-specific and general management expertise these two firms offer,&uot; said Hunt. The third round of financing was led by Cornerstone Equity Investors and Comcast Interactive Capital as well as other venture capital investors. The previous investment round was led by Patricof &Co. Ventures and Primus Venture Partners, and included IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) Ventures, Wasserstein Adelson Ventures and M.H.M. &Co. Ltd. Details of that announcement can be found at http://www.plansoft.com/press/release112299.asp. About PlanSoft Corporation PlanSoft is the leading Internet-based business-to-business solution provider in the $100 billion meeting and convention industry. The company enables buyers (professional meeting planners) and sellers (convention facilities, hotels and related industry suppliers) to communicate and transact business throughout the purchasing and planning process. PlanSoft's comprehensive solutions are brought together as part of The PlanSoft Network and the Ajenis product suite. The company website address is http://www.plansoft.com. About Doll Capital Management Doll Capital Management (DCM) is a leading early-stage venture capital firm, headquartered in Menlo Park, California. The firm's investing partners, Dixon Doll, David Chao and Peter Moran, have many years of operational and company-building experience and have funded some of the world's leading communications and Internet companies such as Alantec, About.com, Bridge (3Com), Centillion cen·til·lion n. 1. The cardinal number equal to 10303. 2. Chiefly British The cardinal number equal to 10600. Networks, Embark.com, Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , InterNap, IPivot (Intel), and UUNet. The firm prides itself on being a friend and a mentor to the management team, in addition to providing active value-added assistance in business development and relationship networking. For more information on DCM, please visit http://www.dollcap.com. About Benefit Capital Management Corporation Benefit Capital Management Corporation is a registered advisor wholly owned by Union Carbide Union Carbide Corporation (Union Carbide) is one of the oldest chemical and polymers companies in the United States, and currently has more than 3,800 employees. Corp. It manages Union Carbide's $4 billion defined benefit pension plan as well as various other related and non-related parties' assets. |
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