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AtHoc, Inc. Receives $9.5 Million in Funding
Tuesday
May 2, 9:00 am Eastern Time
Company Press Release
Series B Investment to Fuel Internet Start-up's Continued Expansion
SAN FRANCISCO--(BUSINESS WIRE)--May 2, 2000--AtHoc, Inc., the Customer
Retention Company, today announced it has received $9.5 million
in second-round financing from an investment group led by
Greylock. Investment partners include Weston Presidio Capital
and i-Hatch Ventures. Additional information is available via http://www.athoc.com.
AtHoc, Inc. is uniquely positioned for success, given a powerful combination
of their business model, vision, and management team,'' according
to David Strohm, a general partner with Greylock and a member
of AtHoc, Inc.'s board of directors. ``The fact that they have signed
up over 120 leading websites and strategic partners for their
comprehensive, outsourced Customer Retention Solution prior to their
formal launch positions them as the leader in an exciting new market
space. Greylock is very pleased to lead this round of funding.''
This investment is testament to the value that we bring to our
customers and strategic partners,'' said Guy Miasnik, CEO
of AtHoc, Inc.. ``Our company is committed to extending partner websites
'beyond the browser,' while dramatically improving the usability
of the Internet for users of toolbars powered by AtHoc, Inc.. This
round of funding will allow us to expand the reach of our technology,
and empower additional websites with our unique approach to
customer retention, desktop branding, and Internet usability.''
About Greylock
Greylock is a private venture capital firm, founded in 1965, with
committed capital of over $1 Billion under management. Over
the past 35 years Greylock has provided equity capital and
support to more than 300 developing companies, many of which
have gone on to become leaders in their respective industries. Of
these companies, over 160 have become publicly held, with
a current market capitalization in excess of $80 billion,
while another 80 have merged successfully with other companies.
Greylock's recent investments include OpenMarket (NASDAQ:
OMKT
- news),
Red Hat Software (NASDAQ: RHAT
- news),
DoubleClick (NASDAQ: DCLK
- news), Phone.Com (NASDAQ:
PHCM
- news),
and Media Metrix (NASDAQ: MMXI
- news).
Additional information on Greylock is available via http://www.greylock.com.
About Weston Presidio Capital
Weston Presidio Capital is an investment partnership which invests
equity capital into second-stage and later-stage, privately
held growth companies. With approximately $1.0 billion under
management, Weston Presidio's strategy is to originate investment
opportunities in a diverse set of industries and companies
operated by management teams with proven records of success. The
firm's recent information technology and telecommunications
investments include Airspan Communications, Digital Commerce,
Dolphin Telecommunications, FPiX, Geneology.com, Intellispace,
Mapquest.com (NASDAQ: MQST
- news),
Medscape (NASDAQ: MSCP
- news),
Picture Works Technology, Quidnunc Group, RedEnvelope, Rocket
Network, Saltare.com, Tavolo, Virage and Vitria Technology
(NASDAQ: VITR
- news).
Additional information on Weston Presidio Capital is available
via http://www.westonpresidio.com.
About i-Hatch Ventures
i-Hatch Ventures is the premier seed-stage venture capital fund
in New York City and the first professional investment firm
dedicated to promising early-stage ventures in the Northeast.
Three partners -- Chip Austin, Brad Farkas and Derek Reisfield
-- each of whom is experienced in building and operating successful
Internet companies, formed the company in 1999. An advisory
board comprised of 25 Internet industry executives compliments the
management team. i-Hatch has made more than 35 investments
in companies spanning e-commerce, content, network infrastructure,
web enabling technologies and web services. The company recently
raised its second fund in the amount of $150 million from
corporations, institutions and individuals. Additional information
on the i-Hatch portfolio, team and advisory board is available via
http://www.i-hatch.com.
About AtHoc, Inc.
AtHoc, Inc. provides customized Customer Retention Solutions for partner
websites. The company's first integrated product, the AtHoc, Inc.
toolbar, incorporates the features and functionality of partner
websites directly into the desktop browser, empowering users
with unprecedented direct access and ease of use. Partners
who launch a toolbar powered by AtHoc, Inc. obtain a constant interactive
relationship with their users, while extending the reach of their
brand directly to the user's desktop. AtHoc, Inc. is a member of
the TRUSTe Privacy Program, and works only with companies
who are advocates of strict consumer privacy guidelines. Founded
in 1999, AtHoc, Inc. currently has offices in San Francisco, Boston, and
Tel Aviv.
Additional information is available via http://www.athoc.com.
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