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December 2001
November 2001
October 2001
September 2001
August 2001
July 2001
June 2001
May 2001
Venture Capital
September Venture Capital Financings
Compiled by D. Piemonte

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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