BOSTON, Sept. 4, Exchange Applications, Inc., doing
business as Xchange, Inc. (Nasdaq: EXAP), announced
that it has received $20.5 million in financing from Insight
Venture Partners, THK Private Equities, and other investors
including Andrew Frawley, chairman of the board of Xchange.
The financing is in the form of Senior Secured Subordinated
Convertible Debentures. Exchange Applications offers Customer
Relationship Management (CRM) software and services designed
for Global 2000 and mid-sized companies.
ANDOVER,
Sept. 5, Sentillion, Inc. announced that it has completed
a successful Series C funding round led by Merrill Lynch
Ventures, raising $18 million. New investors Dresdner Kleinwort
Capital and Universal Health Services, one of the largest
hospital management companies in the United States, and
all of Sentillion's Series A and Series B investors, including
First Consulting Group, Intersouth Partners, Newbury Ventures,
Polaris Venture Partners and St. Paul Venture Capital, participated
in the round.
ANDOVER,
Sept. 5, Tropic Networks Inc., a company developing
Optical Packet Networking systems to eliminate the constraints
of delivering high bandwidth IP and Ethernet-based services
in metropolitan area networks (MANs), announced it has secured
$10 million in capital financing. The financing follows
Tropic's second venture capital round of $60 million raised
earlier this year. Silicon Valley Bank, GATX/MM Venture
Finance Partnership and Transamerica Commercial Finance
Corporation provided the financing. Based in Ottawa, ON,
and Andover, MA, Tropic was formed in May 2000.
BOSTON,
Sept. 10, GeoTrust, a developer of products and services
for Internet security infrastructure, closed a Series C
round of funding totaling $11.1 million. Previous investor
St. Paul Venture Capital led the round, which included other
former investors Castile Ventures and CB Capital. Founded
in 1998, GeoTrust combined business authentication and on-line
database technology to create its True Credentials product,
an XML-based business identity and information profile.
DEDHAM,
Sept. 13, CORTEK, Inc., a developer of spinal implants
for the treatment of degenerative disc disease, announced
that it has completed a fourth-round of private financing
for $10 million. Galen Partners and The Kaufman Group were
the largest participants in this round of financing. All
major previous investors also supported this round.
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