eCommerce - Wednesday, March 29, 2006
Resiliant eCommerce Software Co. Vcommerce Raises $13M
Scottsdale, AZ-based Vcommerce has raised $13M in new funding from Internet Capital Group. Its clients include Target, Overstock and MTV Networks. The company is another eCommerce ASP that focusses on functions that companies like to outource.
Vcommerce was founded in 1998 by Dan Kennedy, who also founded SalesLogix, in sales-force automation. Vcommerce has burned through a lot of investment dollars - $62M to be precise. Kennedy bought the company back from investors and with the help of angel investors who succeeded in a turnaround by putting up $3.5M to restart the company in 2004. The latest investment round represents a buyout of the angels.
Read - Pennsylvania firm invests $13M in Vcommerce (The Business Journal Pheonix)
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