ATLANTA–(BUSINESS WIRE)–July 15, 2003–KnowledgeStorm, the Internet’s most highly trafficked business technology directory, today announced the company has closed $2.4 million in new venturefunding. Participation included all previous KnowledgeStorm institutional investors: Apex Venture Partners, Imlay Investments, Live Oak Equity Partners, Sterling Venture Partners and Total TechnologyVentures.
“KnowledgeStorm continues its remarkable pace driving revenue and increasing the company’s value by delivering substantial benefits to both technology buyers and technology providers,” said Brian A. Hirsch, principal, Sterling Venture Partners. “The market opportunities uniquely available to KnowledgeStorm solidify its position as an attractive investment and ‘company to watch.'”
KnowledgeStorm offers technology buyers–who studies show cannot risk making a bad technology decision–an easy, comprehensive means to match business requirements to a “short list” of technology providers. For technology providers, KnowledgeStorm’s listings, sponsorships and leads substantially improve odds that motivated buyers will fill sales pipelines. More than 80% of the half-million monthly visitors to KnowledgeStorm are actively in the buy cycle.
“If you see the staggering growth KnowledgeStorm has posted to date, you know now is the time to further distance ourselves from the competition. We will outpace our personal bests and deliver ever-increasing value to our most treasured customers–both technology buyers and technology providers,” said Kelly H. Gay, chairman, president & CEO of KnowledgeStorm. “KnowledgeStorm’s new capital will be used to accelerate scaling the business, extending products and partnerships, and entering new lines of business.”
The new round of funding comes on the heels of a remarkable 541% year-on-year base revenue growth for KnowledgeStorm and attainment of major goals: KnowledgeStorm reached cash-flow break-even for the month of November 2002, successfully launched an extensive site redesign encompassing Software, Services, Reseller and Hardware categories, and recently announced partnerships with TechTarget, Aberdeen Group, DevX, Inc.com and FastCompany.com. Continuing the string of successes were myriad industry accolades and advancements including Adweek Magazines’ Technology Marketing ICON Award, the Web Marketing Association’s Excellence in Online Advertising Award, and a Top-5 ranking on Alexa.com, based on KnowledgeStorm’s status as the Internet’s most highly trafficked business technology directory.
About Apex Venture Partners
Apex Venture Partners, established in 1987, has more than $450 million under management with five funds. The firm has invested in over 100 technology companies. Apex focuses on early stage technology investments in software, enterprise/network infrastructure, and telecommunications. www.apexvc.com
About Imlay Investments
Imlay Investments, Inc., an Atlanta-based venture capital firm founded by John P. Imlay, Jr., former Chairman of Dun & Bradstreet Software, was developed to encourage the development of high technology companies based in the Southeastern United States.
About LiveOak Equity Partners
LiveOak Equity Partners is an Atlanta-based venture capital fund with $70 million under management. LiveOak invests up to $6 million in equity in innovative growth companies primarily in the Southeast and concentrates on companies competing in the Information Technology and Healthcare industries. www.liveoakequity.com
About Sterling Venture Partners
Sterling Venture Partners invests $1 million to $6 million in early-stage and expansion-stage health care, software, industrial technology and business services companies. Sterling Venture Partners is a division of Sterling Partners, a diversified private equity firm that has managed more than $500 million of committed capital since its founding in 1983. With offices in Baltimore and Chicago, Sterling Venture Partners invests on the East Coast and in the Midwest. www.sterlingpartners.us
About Total Technology Ventures
TTV is an Atlanta-based venture capital firm that provides capital primarily to expansion-stage financial technology companies. TTV targets companies where it can leverage close relationships with its strategic partners: Synovus Financial Corp., TSYS, and CheckFree Corporation. TTV provides the capital, experience, resources and the network to help companies excel. Initial investment ranges in size from $250,000 to $1,500,000. www.ttvatlanta.com
About KnowledgeStorm
KnowledgeStorm is the Internet’s most highly trafficked business technology directory and provides software, service, reseller and hardware information on thousands of IT solutions. This information is available at KnowledgeStorm.com and through syndication partners including Yahoo!, Hoover’s, TechTarget, Aberdeen Group, InfoWorld, Fastcompany.com, Inc.com and DevX. KnowledgeStorm achieved 541% year-on-year base revenue growth in the year 2002. knowledgestorm.com
KnowledgeStorm and the KnowledgeStorm logo are trademarks of KnowledgeStorm, Inc.
