Imported from previous forum
[ original email was from JG Spencer - jspencer@ibsncentral.com ]
Vista Ventures leads oversubscribed round that funds IBSN’s expansion of its customer base
Denver, Colorado – December 8, 2004 – IBSN Inc., a leading provider of order routing and integration solutions for the securities industry, announced it has received more than $6 million in equity. Vista Ventures led the oversubscribed round with participation from OCA Ventures, Appian Ventures, SAP Ventures, and Grayhawk Venture Partners. Cascadia Capital advised IBSN in this funding round.
IBSN will use this investment to expand its sales and marketing and to further enhance its product offerings. This expansion will enable IBSN to meet increasing customer demand for its complete integration solutions. IBSN’s customers use its products to rapidly connect to new and existing trading partners to increase trading flows, integrate with existing systems and achieve their Straight-Through Processing (STP) objectives.
In conjunction with the funding, IBSN will add to its board Catharine Merigold, a partner at Vista Ventures, and John Dugan, a partner at OCA Ventures.
“We are very impressed with IBSN’s strong customer base and its product offering,” said Catharine Merigold. “The customer validation in this mission critical part of a financial services company was strong evidence of the value IBSN delivers to its customers.”
John Dugan added: “Today’s financial services companies want real-time trading partner integration without the back-office headaches. We believe companies that provide unique cost-saving technologies, like IBSN, will continue to lead the financial services industry’s drive to higher performance at a lower cost. ”
“Closing this funding is real validation for the value we deliver to our customers every day,” said Lou Faust, the newly appointed CEO of IBSN. “This capital will enable us to expand our sales and marketing initiatives and to further develop our product offering to meet the growing needs of our expanding customer base.”
IBSN has major customers in the financial services market, including securities exchanges, market makers and leading retail brokers. IBSN’s customers include NASDAQ, NASD, NSX, and Scottrade.
About Vista Ventures
Vista Ventures is an early stage venture capital firm founded by entrepreneurs, with focused investments in IT, communications, semiconductors and enabling technologies for traditional industries. With offices in Colorado and Boston, our role is to help entrepreneurial companies achieve their maximum potential through team building, partnerships, advice and support, as well as capital. For more information, visit www.vistavc.com.
About OCA Ventures
OCA Ventures is a multi-stage venture capital firm headquartered in Chicago, Illinois. OCA invests in early-stage and expansion-stage companies with a focus on technology. For more information, please visit www.OCAVentures.com.
About Appian Ventures
Appian Ventures (www.appianvc.com) is a Denver, Colorado-based venture capital firm focused on Applied Connectivity technologies that enable timely, efficient, and useful access to enterprise information across a network of connected users. Appian Ventures targets early-stage investments in real-time enterprise applications and infrastructure management software companies. In an increasingly decentralized and distributed business environment, these technologies represent the fastest growing segments of the IT industry.
About SAP Ventures
SAP Ventures is the venture capital affiliate of SAP AG (NYSE: SAP), the world’s leading provider of business software solutions. SAP Ventures manages a portfolio of financial investments in the enterprise applications and infrastructure market spaces. For more information, please visit www.sapventures.com.
About Grayhawk Venture Partners
Located in Phoenix, Arizona, Grayhawk manages a $60 million Small Business Investment Company (“SBIC”) that invests in growth-oriented companies based in the southwestern United States. Grayhawk’s investment strategy emphasizes investing in companies with strong business momentum that operate in growth industries and are led by seasoned operations-oriented executives. More information can be obtained at www.gvp.us.
About Cascadia Capital
Cascadia Capital (www.cascadiacapital.com) offers corporate finance, mergers & acquisitions, strategic advisory services and capital market services to companies across North America. Cascadia Capital serves emerging growth and middle market companies, both public and private. The firm focuses on the following sectors: Information Technology, Communications, Security & Defense, Healthcare, and Industrial & Consumer.
About IBSN
IBSN is a leading provider of order routing and integration solutions for the securities industry. The ability to rapidly connect with trading partners accelerates increased order flow, integrates with existing systems and enables customers to achieve their straight through processing objectives. For more information, visit www.ibsncentral.com.