Wednesday March 8, 3:49 pm Eastern Time
Company Press ReleaseSOURCE:
XMLSolutions Closes $16.5 Million Round of Financing, Led by First Analysis Venture Capital, Opticality Ventures and Schoffstall Ventures
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.
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
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
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.
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
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