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Startups.com Raises $15 Million in Second Round; Funding From Leading VC Firms and Private Investors Fuels Expansion.

Business Editors & High Tech Writers

REDWOOD CITY, Calif.--(BUSINESS WIRE)--May 10, 2000

Startups.com (www.startups.com), an online provider of office infrastructure setup and procurement services for high-tech companies, today announced it has raised $15 million in its second round of funding. Redleaf Venture Management is the lead investor in the round, and is joined by Garage.com, Constantin Partners, CrossFire Ventures, Roni Capital, Staenberg Venture Partners, Venture Factory, and angel investors. Startups.com will use the funds to expand its Web-based services, hire additional staff, develop incubation solutions, and expand its operations into Boston, Los Angeles, New York, and Seattle as well as international locations.

"Since launching our business on March 1st, demand for our services has been extremely high. With this capital infusion, Startups.com will quickly expand operations to serve even greater numbers of growing companies," said Donna Jensen, founder and CEO of Startups.com. "We are extremely pleased to have Redleaf Venture Management as our lead investor and a highly synergistic partner. Redleaf is one of the hottest new funds serving startups having grown from a single location firm just one year ago to an Internet operating company with offices throughout the US."

"Startups.com's unique business model of merging hands-on infrastructure consulting services with online solutions is designed to scale rapidly," said John Kohler, co-CEO and managing director of Redleaf Venture Management. "In a market where the service industry is highly fractured, Startups.com delivers a comprehensive suite of essential services in key startup hubs throughout the United States. Through its innovative technology and processes, the company is quickly becoming the catalyst, changing how service providers deliver solutions to startup companies."

About Startups.com

Addressing an urgent need for speed, Startups.com serves as an expert operations partner, streamlining and orchestrating the complex business setup and procurement processes for fast-track startup companies. By leveraging a proprietary process-engineered methodology, web-based tools and tutorials, and a robust database of pre-qualified service providers, Startups.com helps companies get up and running quickly, efficiently and effectively.

Based in Redwood City, California, Startups.com provides business setup consulting, project managed implementation, and procurement services in the areas of concept stage development; real estate; facilities and furniture; information technology, networking and telecommunications; human resources, benefits and staffing; finance and administration; and marketing communications. Startups.com targets domestic and international high-tech companies establishing operations in the United States.

Corporate sponsors include Garage.com, Silicon Valley Bank, Venture Law Group, Sun Microsystems, Exodus Communications, IBM, Modem Media/vivid studios, and Wilson Sonsini Goodrich & Rosati. A partial list of the company's clients includes: Acteva, AirPrime, Epinions.com, Evite, Grassroots.com, Google, GuruNet, LeaseExchange, LumiCyte, OneCenterPlaza, and TheScience.com. For more information, visit Startups.com on the Web at www.startups.com.

Startups.com and the Startups.com logo are trademarks of Startups.com, Inc. All other trademarks are the property of their respective owners.
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Publication:Business Wire
Geographic Code:1USA
Date:May 10, 2000
Words:482
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