The round was led by I-Hatch Ventures and included previous investors Metropolitan Venture Partners, Tamarack Asset Management, Ropart Partners and Sage Venture Partners. The company said it would use the funding to accelerate development of new technology products and expand its sales and marketing efforts. Also participating were Ropart Partners, Sage Venture Partners, Tamarack Asset Management, and previous investor Metropolitan Venture Partners. This follows earlier investments by CCG Venture Partners, Capstar Investment Partners, Goodrich Capital Partners, Velocity Capital and undisclosed individuals. ClassMap builds and maintains free course specific Web sites to use as an additional teaching tool.
Students pay an online fee to access their course materials.
The company also provides optional home delivery of course reading materials traditionally supplied by local copy shops. Opportunity in finance and accounting outsourcing will be strongest in industries characterized by larger company sizes, intense competition, low levels of regulation, rapid growth, widespread restructuring and merger and acquisition activity, extensive ERP adoption and prior outsourcing experience, the report says. Cordova Ventures and several angel investors also participated in the round. Revenue Technologies will use the funds to support the ongoing development and launch of MarketPrice, a comprehensive pricing solution designed to provide businesses with real-world pricing capabilities to support both online and offline sales and distribution channels. The general availability of MarketPrice is expected during the first half of 2001.