ECNext Secures Additional $4 Million to Fund Growth
Reservoir Venture Partners L.P. joins in the $4 million financing round. Proceeds will be used to accelerate e-marketing and end-user analysis initiatives.
Columbus, OH (PRWEB via PR Web
Direct) September 14, 2005 -- ECNext a leading provider of technology and services for merchandizing and marketing business content via
the Web, announced today that it has raised $4 million in new
financing.
Reservoir Venture Partners and Athenian Venture Partners were
the main participants in the round. Reservoir's participation represents their
initial investment in ECNext. ECNext will use the proceeds to accelerate e-marketing
initiatives related to content buyer analysis, product packaging, conversion
rate opportunities and online advertising programs. In explaining their
decision, executives at both firms cite confidence in ECNext's business model
and growing market position.
"This is a strategic move for us," explains
Steven B. Jaffee, General Partner of Reservoir Venture Partners. "It is based on
ECNext's proven ability to help customers generate web revenue. It's all about
growing with change. By enabling end-users to use online searches to find and
buy information, ECNext is showing its customers how to exploit a new sales
channel achieve rapid pay-backs and increase profitability by as much as 50%
annually. These are the kinds of results, and the potential, that we always look
for in our investments."
Francois Helou, partner of Athenian Venture
Partners, says "We've been with ECNext from the very early stages, and couldn't be happier
with the relationship."
"Reservoir, and certainly Athenian, have both
shown a remarkable understanding of what we are doing and how we plan to
continue to increase our value to clients," says Pamela Springer, CEO of ECNext.
"Investing in our various web marketing offerings is key to our next level of
rapid growth."
Springer notes that ECNext has already established
strong strategic relationships throughout the information industry, and has a
client list that includes Thomson Gale, D&B, Standard and Poor's, AMR
Research and Wright Reports.
About Reservoir Venture Partners
L.P.
Reservoir Venture Partners L.P. (www.reservoirvp.com) is a venture capital firm bringing
capital, business building acumen, and a strong network of advisors to
entrepreneurs and their teams. RVP targets investments in seed and early stage
technology companies with an emphasis on biosciences and information technology.
The firm is located in Columbus, Ohio, and makes investments without regard to
geography, although its primary targets are Ohio and the Midwest.
About
Athenian Venture Partners
Athenian Venture Partners (www.athenianvp.com), is a
venture capital firm headquartered in Ohio, with senior managers in Boston, San
Diego and London. The firm's investment focus is in the Information
Technology/Communications and Life Sciences industries. The firm's five senior
managers bring over 90 years of combined industry and investment experience in
the firm's two areas of focus and provide significant industry-specific value to
Athenian's companies. Athenian generally invests in early stage opportunities
and participates in subsequent financing rounds until IPO or sale. Founded in
1997, it is currently managing three venture capital funds and has total capital
under management of over $100 million.
About ECNext
Founded in 1996,
ECNext
specializes in turning Web searches into content sales and subscriptions for
leading business publishers, financial analysts and market research firms. The
ECNext content merchandising program includes a complete range
of technology and services that work together to drive more traffic, revenue and
profit.
Web marketing programs drive traffic to the site; e-commerce
capabilities provide a range of promotion, sales, and subscription options for
capturing revenue; workflow and content management tools streamline maintenance;
and tracking and reporting capabilities provide real-time intelligence for
on-going business improvement. ECNext partners with customers combining Web content sales
expertise with customer domain knowledge to drive business success.
www.ecnext.com
For more
information:
Brad Warnick,
Vice President Marketing,
ECNext,
(614)
682-5108
www.ecnext.com
# # #
Source : http://www.prweb.com/releases/2005/9/prweb285143.htm