 Q Advisors Represents Venda in its $20 Million Equity Financing
LONDON, ENGLAND, and NEW YORK, NY, December 13, 2006 - Venda, Ltd., the leading global provider of on-demand eCommerce solutions, announced the initial closing of an over-subscribed $20 million round of equity financing, led by Investor Growth Capital (“IGC”), with existing investor GF Private Equity Group, LLC, a component company of the Southern Ute Growth Fund, participating. In conjunction with the financing, IGC’s Noah Walley and Phil Dur will join Venda, Ltd.’s board of directors.
Venda (www.venda.com) already delivers a best-in-class eCommerce platform to over 100 leading retailers and manufacturers in a comprehensive, affordable on-demand solution. This financing will enable the company to continue its rapid pace of growth through accelerated investment in technical staff, customer support, infrastructure and marketing.
“Venda is a pioneer in the eCommerce industry”, said Phil Dur, Vice President at IGC. “Through its integrated, turnkey platform, every Venda customer has access to leading-edge
revenue generating eCommerce technology out of the box, without sacrifice to branding considerations and flexibility. Leading global retailers and manufacturers rely on Venda to provide an un-paralleled eCommerce experience to their customers, at a fraction of the cost of competing solutions.”
“Venda’s on-demand architecture eliminates the lengthy installation and customization services required by traditional solutions”, added Noah Walley, a Managing Director at IGC. “In addition, Venda’s simple ‘one fee for all’ pricing model takes the mystery out of eCommerce investment.”
Dan Wagner, Chairman and CEO of Venda Ltd., said that he was “delighted and gratified to find another partner, in addition to the GF Private Equity Group, that has an absolute commitment to delivering a great solution to Venda’s clients. Investor Growth Capital has a long-term investment strategy, active approach, demonstrated network, and a global reach that we will leverage for our customers' worldwide needs. We were well advised by Q Advisors in this transaction, and are very excited about the outcome."
“By continuing to offer a growing portfolio of sophisticated on-demand B2C and B2B capabilities”, continued Wagner, “Venda will help our clients stay ahead of the curve with a ‘best of the web’, one-stop solution for their eCommerce and demand generation needs."
About Investor Growth Capital
Investor Growth Capital is a venture capital and private equity advisory group wholly owned by Investor AB, a large industrial holding company and leading shareholder in several multinational companies, including AstraZeneca, Ericsson, and Electrolux. For almost a century, Investor AB's business concept has been to build best-in-class companies in sectors where the group has a strong knowledge and networking advantage. Investor Growth Capital shares this investment philosophy and leverages Investor AB's extensive global network of companies and senior managers. Investor Growth Capital focuses on investments in growth companies in the IT and healthcare sectors in Europe, North America and Asia.
Investor Growth Capital Media Contact:
Philip R. Dur
+1.650.543.8100
Philip.Dur@investorab.com
About Venda, Inc.
Venda delivers on-demand eCommerce to some of the world’s leading retailers and manufacturers, including Lands’ End, Virgin Megastore, Panasonic, Pokémon, The Body Shop, Urban Outfitters and Xerox. The Company’s complete eCommerce platform combines flexibility, reliability and scalability with the operating advantages of an outsourced service. Multi-lingual and multi-currency capable, Venda’s B2B, B2C and B2E solutions provide “best of the web” capabilities to mid-tier and Fortune 1000 companies. Venda allows customers to reduce the risk, complexity and cost associated with eCommerce, while empowering business users and delivering unprecedented ROI. With offices in New York, London and Bangkok, the Company is managed by a team of eCommerce veterans with more than 20 years of experience in online businesses.
Venda Media Contact:
Bernardine Wu
+1.212.808.4004
bwu@venda.com
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