Presence Online has secured $3.5 million in a second round of venture capital funding, at a time when much investment is moving away from the IT arena.
First-round investors the Ericsson-Deutsche Technology Fund and the Deutsche Private Equity Fund, which jointly invested in the company in 2000, have provided an additional $1.7 million. Rothschild e-Fund has also come on board with $1.7 million.
"Our decision to invest in Presence Online is based on a belief that companies able to deliver products focused on the critical task of lowering the cost of web content management, while providing superior personalization, dynamic content and integration capabilities, will be clear winners as this market consolidates," said Dr Megan Clark, CEO of Rothschild e-Fund.
Presence Online director Tim Birdsall said: "Now, our focus is on consolidating our gains and growing our international presence. We will concentrate on development for our Aptrix content management and integration solutions, using both Domino and Java (J2EE) software platforms, particularly in the US. We’ll also be focusing more closely on our strategic global alliance activities."
According to a recent META Group report*, by 2003 95 percent of G2000 firms will deploy a content management (CM) infrastructure to regain control of web content and associated costs.
The Aptrix solution is an integrated web suite built to operate on two distinct platforms – Domino and Java (J2EE).
"The need for web content management solutions will increase – not decrease," said Tim Birdsall. "The enterprise application integration market is also a hot software sector. Against this backdrop, Presence Online is well placed to challenge global giants with huge market capitalisations and well known and marketed brands."
* A copy of META Group’s report is available from [email protected]
About Presence Online
Presence is a global Internet solutions group in the field of distributed content management, application integration and personalisation. Its international distribution infrastructure is supported by a network of alliances, most notably with IBM/Lotus, and offices in Boston, Los Angeles, London, Mexico and Sydney (where its R&D development arm is also based), and strategic operations in South East Asia.