Monday November 13, 1:03 pm Eastern Time
Digital Creations Closes $12 Million in C Round Financing; Whitney & Co. Leads Strategic Investors Including Intel 64 Fund And Opticality Ventures
NEW YORK, Nov. 13 /PRNewswire/ -- Digital Creations, a leading provider of
Open Source web application services, today announced that it has closed a $12
million C round funding.
Whitney & Co., a major investor in innovative
Internet, e-commerce, business-to-business and software development companies,
leads with other strategic investors, including Intel 64 Fund and Opticality
Ventures I, LP.
``Zope (Digital Creation's signature development platform) is a leading
Open Source web application server that enables teams to collaborate in the
creation and management of dynamic web-based business applications such as
intranets and portals,'' said Rob Page, co-founder and COO of Digital
``The market for our technology and services solutions, has
dramatically expanded over the last year.
Digital Creations possesses the
technology and time-to-market advantages customers demand, and is geared to
deliver quickly, efficiently and cost-effectively.''
``Digital Creations has executed flawlessly in their quest to deliver
premier web applications solutions to an impressive roster of customers that
includes the Navy, Zap Media, and HomeGain, leveraging Zope's time-to-
market advantage over all competitors,'' says Jeffrey Jay, General Partner at
Whitney & Co.
``They continue to innovate and deliver.
consistently meets the demands of its customers, and we are delighted to be a
part of this team which is helping shape the future of highly dynamic,
interactive web-based services.''
Digital's C funding round will be used to scale and build significant
About Digital Creations
Digital Creations, based in Fredericksburg, Virginia, with offices in
Rochester, New York and Portland, Oregon, combines pioneering ideas and
powerful software to deliver definitive web solutions.
Doing business with
Digital Creations means having next-generation web applications (e.g. content
management, portals, workflow, XML engines, and community building).
means having powerful solutions with premier time-to-market advantages and
lower risk, high-performance, scalable, reliable answers for massive websites
performed by professionals, executing via standards-based analysis and design.
Zope, its world recognized development platform, makes it easy to build
features such as site search, news, personalization, and e-commerce into web
Digital's innovations have also attracted a growing list of investors
including Intel Capital, and Opticality Ventures I, LP.
For information on
Digital's innovative solutions, visit http://www.digicool.com.
information about Zope, the leading open source application server, visit
About Whitney & Co.
Whitney & Co. is a diversified global manager of alternative assets with
over $5 billion invested in private and public equity and debt.
founded by John Hay Whitney in 1946, pioneered the venture capital business
and has evolved from a top US venture firm with $10 million under management
to what it is today.
There are over 130 investment professionals located in
the Stamford, Connecticut headquarters, as well as in six other offices in
leading financial centers around the world: San Francisco, Boston, London,
Tokyo, Hong Kong, and Singapore.
About Intel 64 Fund
The Intel 64 Fund is a quarter billion dollar equity fund that invests in
emerging technologies for next-generation servers and workstations utilizing
Intel's IA-64 architecture.
The Fund is coordinated by Intel with Compaq,
Dell, HP, Intel, NEC, and SGI as co-investors.
The Fund's other investors,
managed by Morgan Stanley Dean Witter, include Bank of America, The Boeing
Company, Circuit City, Enron, Ford Motor Company, General Electric,
McKessonHBOC, Morgan Stanley Dean Witter, Reuters, Sabre, SmithKline Beecham,
Sumitomo Corp., SunAmerica and Telmex.
Additional information about the Intel
64 Fund is available at http://www.intel64fund.com.
About Opticality Ventures
Opticality Ventures (OV) is a venture capital firm focused on investments
in private technology companies, particularly those involved in the Internet,
finance, e-commerce, business-to-business and software development
concentrating on programming tools, development environments, distributed
object systems and programming languages.
OV helps companies succeed as
profitable stand-alone private or public entities, refining business
strategies, technology implementations, market approaches, building partner
and client relationships.
Contact Opticality Ventures at