MCLEAN, Va., March 8 /PRNewswire/ -- XMLSolutions, a worldwide provider of strategic business-to-business, XML-based products and services, today announced the completion of a $16.5 million round of financing. This round includes investments from First Analysis Venture Capital (FAVC) (Chicago, IL), Opticality Ventures (New York, NY) and Schoffstall Ventures (Harrisburg, PA). Verticality Investment Group (Jersey City, NJ) also invested, in addition to funding XMLS' first round.
The company has received $20.1 million in total financing since July of 1999. The additional funds will be used for continued expansion of sales, marketing, and product development efforts. XMLSolutions has also added Bret Maxwell, a partner with First Analysis Venture Capital, and Hadar Pedhazur, a principal at Opticality Ventures, to the company's Board of Directors.
``XMLSolutions has demonstrated its ability to serve large and high-growth customers with complex needs, helping them reach trading partners immediately without the time delays formerly associated with translating from old technology to new technology,'' stated Mr. Maxwell.
``It is refreshing to see a company execute its vision with laser precision,'' said Hadar Pedhazur. ``XMLS has had a roadmap since its inception and has consistently delivered on its mission.''
XMLSolutions Corporation is a provider of XML-based business-to-business e-commerce products. The XMLSolutions family of products enables companies to leverage their investment in existing legacy systems and extend their electronic trading communities to small and midsize trading partners using XML technology. XMLSolutions backs its XML e-commerce software with a superior professional services team, staffed with world experts in XML, EDI, metadata and legacy system integration.
``This is clearly one of the most exciting ventures that I have had the opportunity to participate in,'' stated Martin L. Schoffstall, general partner at Schoffstall Ventures. ``XMLSolutions' advanced expertise in Internet technologies and legacy metadata provides a distinct advantage over other vendors in this market space. It has demonstrated a true understanding of customers' needs, which has enabled the production of bleeding edge technology that offers a significant competitive advantage.''
Anju Ahuja, a principal with First Analysis Venture Capital, focusing on enabling e-commerce technologies and ASPs, added ``XMLSolutions has the most advanced product offering and metadata expertise, allowing their customers to efficiently resolve the problem of disparate standards and schemas and bringing them one step closer to a seamless environment for e-business.''
About First Analysis Venture Capital
First Analysis Venture Capital (www.firstanalysisvc.com) is one of the largest early-stage venture capital firms in the United States. With a total of ten funds raised, FAVC has funded over 150 successful companies providing the infrastructure for an enhanced business-to-business marketplace. First Analysis Venture Capital plays an active role in developing and scaling early- stage companies by providing entrepreneurs with assistance in corporate development and strategy, business development and alliances as well as financing events.
About Opticality Ventures
Opticality Ventures, LLC is a venture capital management company focusing on investments in private technology companies, generally those involved in software development concentrating on finance, the Internet, programming tools, development environments, distributed object systems and programming languages. Opticality's partners have achieved notable successes in both large corporate and entrepreneurial venues. For more information, call Hadar Pedhazur at 914.923.0003 or visit the web site at http://www.opticality.com.
About Verticality Investment Group
VIG is a venture capital firm that focuses on investments in private software development companies. The primary concentration of the companies invested in include, Internet technologies, financial applications, programming tools, and development environments. VIG's partners have been recognized for successful ventures with both large corporations and entrepreneurs. For additional information, contact Sholem Greenbaum at 212-266-8269 or visit the web site at http://www.VALIG.com.
About XMLSolutions Corporation
XMLSolutions Corporation (www.xmls.com) is a provider of XML-based business-to-business e-commerce products that enables companies to leverage their investment in legacy systems and extend their electronic trading communities to small and midsize trading partners. XMLSolutions backs its XML e-commerce software with a superior professional services team, staffed with world experts in XML, EDI, metadata and legacy system integration.
XMLSolutions is headquartered in Northern Virginia, with offices in
Atlanta, GA; Charlotte, NC; Chicago, IL; New York, NY; San Francisco, CA;
Bangalore, India, and The Netherlands.
For more information, contact: Daryn Walters Peter Arnold XMLSolutions Corporation Peter Arnold Associates Email: firstname.lastname@example.org Email: email@example.com Phone: 703.506.1111 Phone: 781.239.1030 Fax: 703.556.9602 Fax: 781.239-1204 Web: http://www.xmls.com Web: http://www.parnold.com