======================================================
VENTUREWIRE --- Wednesday, November 8, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Optoelectronic Company Cenix Gets $25.5 Million in Round One
o Ex-CNN and HBO Exec Joins Video Sharing Firm Flycode As CEO
o Lacking Funding, BizBlast.com Lays Off 64% of its Staff
o Managed Service Firm Coradiant Gets $20 Million Round One

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Also in This Issue:

New Money:
o Software Firm Raging Knowlege Has $1.5 Million First Round
o Apparel Industry Tech Firm FreeBorders Raises $25 Million
o Photonics Firm Redfern Broadband Gets $28 Million Series B
o Streaming Media Firm Servecast Gets $35 Million Round Two
o Telephony Firm TalkingNets Receives $20 Million Second Round
o E-Commerce Firm HigherMarkets Has $14 Million Series B
o Fiber Optic Firm SpectraSensors Gets $4 Million Series B
o i2i Venture Invests $7 Million in IT Integrator Corus
o One Motorola Invests in Software Design Firm Plumb Design
o Swiss Parts Site SourcingParts Gets $2.6 Million Round Two
o Video Software ASP HotRoof Raises $3.3 Million Second Round
o Neolinear, Mixed-Signal Chip Developer, Raises $8 Million
o NGO Fundraiser Kintera Secures $5 Million Third Round
o Net Logistic Firm Veredex Secures $4 Million in Round Four
o Wireless Modems Maker Novatel Gets Series D Funds From Intel

Bad News:
o Consulting Firm Omnient Lays Off 62, Names New CEO
o HalfthePlanet.com, Site for Disabled Community, Closes Doors
o ClearCommerce Pulls IPO Citing Market Conditions

New Products:
o Data Firm TraderBot Changes Name to Vhayu Technologies
o E-Business Firm Breakthrough Changes Name to iCommerce
o Information Services Firm GuruNet Changes Name to Atomica

New Deals:
o IBM Takes Equity and Teams With Kymata, Optical Developer

M&A:
o Amateur Sports Site Myteam Aquires Soccer Market ASP Zvia
o Management Firm Blue Pumpkin Acquires Coleman Consulting
o Pumatech Buys Tech Firm SwiftTouch for Under $2 Million

New Directors:
o E-Business Consultant Destiny Names Ex-Mellon Exec to Board
o B2BStreet Names Lynx Principal and Former Avis CEO to Board
o Insurance Industry E-Business Firm Ontos Names Board Chair
o Software Firm Tranxition Appoints Tech Exec to Board
o Wireless Firm PhoneOnline Appoints Comm Exec to Board
o Data Analysis Apps Firm DecisionPoint Adds to Board

New People:
o Israeli E-Payment Firm Transale New CEO to Head U.S. Branch
o Former Mail.com President Named CEO of BountySystems
o Former Oracle Exec Named CEO of Consulting Firm FutureNext
o Geographic Info Apps Firm geoTouch Taps Software Exec As CEO
o Maximal Names Ex-Gentia Executive as CEO
o TerraShare Names Ex-DAI Networks Executive as CEO
o Music.com Names President and CEO as Board Chairman

VC Fund News:
o Chile's Said, Ericsson, and SAAB Form $30 Million WAP Fund
o Peel Hunt and Royal Bank of Scotland Launch New Fund

VC Personnel:
o IFP Names Ex-CEO of CMGI Internet as Senior Partner

VW Corrections:
o Accelerate Mobile
o Consilient

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Come hear from the leaders of 100 of the hottest private
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Claude Leglise, VP, New Business Group & GM, Home Products Group, Intel
Michel Mayer, GM, Pervasive Computing, IBM
Michael Ramsay, President & CEO, TiVo
Larry Smarr, Professor, Department of Computer Science and Engineering, UC
San Diego
Carl Yankowski, CEO, Palm Computing
Henry Yuen, Chairman & CEO, Gemstar-TV Guide International

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December 4 and 5, San Francisco
A VentureWire investment conference.
http://www.tpsite.com/tp/conf/to2000/?vw=20001108

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======= Top Stories =======

o Optoelectronic Company Cenix Gets $25.5 Million in Round One

ALLENTOWN, Calif. -- Cenix, which designs and manufacturers
high-speed optoelectronic interfaces, said it has
raised $25.5 million in its first round of funding
led by Kleiner Perkins Caufield & Byers that included
Cisco Systems, Dongah Elecomm, and individual investors.
Cenix said this investment will enable it to develop
the products and manufacturing processes needed
to deliver its technology to customers.
http://www.cenixinc.com/
_____________________________________________

o Ex-CNN and HBO Exec Joins Video Sharing Firm Flycode As CEO

SAN FRANCISCO -- Flycode, which develops software
for a peer-to-peer network of video distribution
and file sharing, said it has appointed Mark Rudolf
as its chief executive officer. Mr. Rudolf most
recently served as deputy chief executive officer
of FilmFour, a UK-based film company. He has also
held several positions at CNN and HBO. Flycode's
founder and former CEO, Bill Bales, will continue
as the vice president of business development. Flycode,
formerly  AppleSoup, is backed by Bill Krause, president
of LWK Ventures; Frank Biondi, chairman of Biondi
Reiss Capital Management; Joon Yun, an investment
analyst at Palo Alto Investors and a founding partner
of Targesome; and the Jack Valenti family.
http://www.flycode.com/
_____________________________________________

o Lacking Funding, BizBlast.com Lays Off 64% of its Staff

DENVER -- BizBlast.com, which provides small businesses
with Internet tools and services, said it laid off
35 of its 55 employees, approximately 64% of its
workforce. The cuts came due to the company's inability
to raise additional capital, according to company
president and CEO Jeff Lamb. BizBlast.com, which
raised a $4 million first round of funding at the
beginning of the year, was not able to find a lead
investor for its second round. Company backers Access
Venture Partners, Quest International Management,
and Softbank Venture Capital were willing to reinvest
provided there was a new lead investor, the company
said. Softbank led the company's first round of
funding but would not lead again. The company said
it hopes either to receive additional funding or
to be acquired, with acquisition the more likely
option. BizBlast.com has enough funding to last
until January of 2001. The company's products enable
users to create, set up, and maintain online stores.
http://www.bizblast.com/
_____________________________________________

o Managed Service Firm Coradiant Gets $20 Million Round One

SAN JOSE, California -- Coradiant, a managed service
provider, said it closed a $20 million first round
of funding led by Doll Capital Management. Sandlot
Capital also participated in the round. The company
said it will use the funding to support growth in
its online business services infrastructure and
to open additional offices abroad. Coradiant owns
and operates a service platform for Internet business
applications and remotely manages, maintains and
monitors business critical sites.
http://www.coradiant.com/

======= New Money =======

o Software Firm Raging Knowlege Has $1.5 Million First Round

SOUTH NORWALK, Conn. -- Raging Knowledge, a developer
of collaborative Web-based knowledge management
systems, said it secured $1.5 million in first round
funding, led by Multi-Venture Partners and Holger.
Charles Millard, former president of the New York
City Economic Development Corp. and former managing
director of the Internet Group at Prudential Securities;
Roger Moore, vice president of business development
for Raging Knowledge; and Ronald Stevens, president
of Digital5, will join the board of directors.
http://www.ragingknowledge.com/
_____________________________________________

o Apparel Industry Tech Firm FreeBorders Raises $25 Million

SAN FRANCISCO -- FreeBorders, which develops sourcing
technologies and an online trading network for the
fashion, apparel, design, and fabric markets, said
it raised $25 million in its second round of funding.
The round was led by the Internet Capital Group
(ICG) and included investments from Fountain Set
Holdings, Crystal Group, Luen Thai, TAL Apparel,
Orient Holding International, and Grupo Mina. FreeBorders
said it will use the funding for product development.
http://www.freeborders.com/
_____________________________________________

o Photonics Firm Redfern Broadband Gets $28 Million Series B

SYDNEY, Australia -- Redfern Broadband Networks,
a developer and manufacturer of photonic networking
products, said it raised $28 million in its Series
B round of funding. U.S.-based Optical Capital Group
led the round, which included Chase H&Q, Allen &
Buckridge, and Macquarie Technology Funds. The company
will use the funds for research and development,
recruitment, manufacturing, and customer acquisition.
http://www.redfernnetworks.com/
_____________________________________________

o Streaming Media Firm Servecast Gets $35 Million Round Two

DUBLIN -- Servecast.com, a provider of outsourced
streaming media delivery and hosting services, said
it has raised $35 million in its second round of
funding led by Providence Equity. Other investors
in the round included Carrier1, a provider of Internet,
voice, bandwidth, data center and access technology;
Eddie Jordan, the owner of Jordan Formula One Racing
Team; and previous investors Setenta Sport; Denis
O'Brien, former chairman of East Telecom; and Canadian
entrepreneur and non-executive chairman, Robert
Jull. Servecast.com has also received what it called
significant vendor financing facilities from its
European strategic partners, Compaq and Cisco. The
company said it will use the funding to  develop
its scaleable pan-European network used for hosting
and delivery of streamed audio and video content.
http://www.servecast.com/
_____________________________________________

o Telephony Firm TalkingNets Receives $20 Million Second Round

SAN JOSE, Calif. -- TalkingNets, a telephony technology
company, said it has received $20 million in a second
round of funding co-led by Charles River Ventures
and seed-round investor Venrock Associates. TriTech
Partners and first-round investor Hatch Group also
participated. TalkingNets said Izhar Armony of Charles
River Ventures will replace an undisclosed member
of the board as the board's fourth member. TalkingNets
added that it will use the funds to launch its product
in new markets and to expand its staff.
http://www.talkingnets.com/
_____________________________________________

o E-Commerce Firm HigherMarkets Has $14 Million Series B

SAN FRANCISCO -- HigherMarkets, a provider of institutional
Internet commerce products and services for institutional
purchasers in higher education, said it raised a
Series B round of funding for $14 million. New investor
Sylvan Ventures led the round, which included new
investor Armada Venture Group and previous investor
New Mountain Capital. Armada Venture Group chairman
Daniel Aegerter and Sylvan Ventures chairman and
CEO Christopher Hoehn-Saric will sit on the company's
board of directors. The company will use the funding
for expanding its software engineering product and
service teams and for sales and marketing. HigherMarkets'
product includes Internet procurement capabilities,
Internet marketplace software, and a Web-based community
for institutional purchasers in higher education.
http://www.highermarkets.com/
_____________________________________________

o Fiber Optic Firm SpectraSensors Gets $4 Million Series B

PASADENA, Calif. -- SpectraSensors, which produces
fiber optic telecommunications components and laser-based
gas sensing systems, said it has raised $4 million
in its Series B round of funding from Forrest, Binkley
& Brown and The United Company. The company said
it will use the funds to expand the manufacturing
and marketing of its gas sensor products and to
develop an absolute wavelength reference product
and a a widely tunable laser for optical communications.
SpectraSensors was incubated by ViaSpace Technologies.
http://www.spectrasensors.com/
_____________________________________________

o i2i Venture Invests $7 Million in IT Integrator Corus

STOCKHOLM -- i2i Ventures, a venture capital firm
launched by Adcore, Skandia Investments, and Ole
Oftedal, said it invested SEK 70 million ($7 million)
in Corus Technologies. Corus has developed an integration
engine which enables applications to communicate.
The company said it will use the funding to expand
its operations into further international markets.
The company currently operates in Sweden, Finland,
and the U.K.
http://www.corus.se/
_____________________________________________

o One Motorola Invests in Software Design Firm Plumb Design

SCHAUMBURG, Ill. -- Plumb Design, which designs
and develops software, Web applications, and communication
platforms, said it received an undisclosed amount
of second round funding from One Motorola Ventures.
The company will use the funds for sales and marketing,
and to develop its product Thinkmap, a platform
for animating and displaying complex sets of interrelated
information.
http://www.plumbdesign.com/
_____________________________________________

o Swiss Parts Site SourcingParts Gets $2.6 Million Round Two

CHAVANNES-DE-BOGIS, Switzerland -- SourcingParts.com,
a Swiss marketplace for the built-to-order parts
industry, said it raised $2.6 million in its second
round of financing. FCPR Galileo III and ComVentures
Telecom Partners I were the sole investors in the
round. The company said it will use the financing
for development of its technology and services and
geographical expansion. SourcingParts.com said it
will open branches in Italy, Germany, the U.K.,
Ireland, and Eastern Europe. Both FCPR Galileo and
ComVentures Telecom will take seats on the company's
board of directors.
http://www.sourcingparts.com/
_____________________________________________

o Video Software ASP HotRoof Raises $3.3 Million Second Round

GREAT BARRINGTON, Mass. -- HotRoof, which is developing
video delivery software for the Internet, said it
closed its $3.3 million second round of financing
from lead investor Davenport Capital Ventures; Village
Ventures; previous investor The Berkshires Capital
Investors, a fund within Village Ventures; and Meridian
Financial Investments. HotRoof said Matt Appel of
Davenport Capital Ventures, and David Long, CEO
of HotRoof's development partner, Zenn New Media,
will replace two board members, keeping the total
number of board seats at five. HotRoof said it will
use the funds to launch its product, to expand its
staff and management team, and to build its client
and partner base.
http://www.hotroof.com/
_____________________________________________

o Neolinear, Mixed-Signal Chip Developer, Raises $8 Million

PITTSBURGH -- Neolinear, which develops mixed-signal
synthesizing technologies, said it raised $8 million
in its third round. The round included investments
from Cadence Design Systems, CEO Venture Fund, Intersouth
Partners, and TVM Techno Venture Management. The
company said it will use the funding to expand research,
marketing, and development. Neolinear also said
the financing will support a growth in the company's
staff as it expands to meet rising demand for its
physical synthesis products. The current financing
follows a $5.4 million second round raised in March.
http://www.neolinear.com/
_____________________________________________

o NGO Fundraiser Kintera Secures $5 Million Third Round

SAN DIEGO -- Kintera, which provides Internet fundraising
services to non-profit organizations, said it raised
a $5 million third round. Hori Capital, Maple Leaf
Ventures, and Seneca funded the round along with
individual investors. The company will use the funding
for sales and marketing. Kintera also said it agreed
to acquire Give Power, an organization that helps
non-profit groups use the Internet for fundraising.
Give Power's co-founder and president Julie Schwartz
has joined Kintera as senior product marketing manager.
Kintera announced its $3 million first round of
funding early last month, followed by a second round
for $5 million from Infinity Outdoor.
http://www.kintera.com/
_____________________________________________

o Net Logistic Firm Veredex Secures $4 Million in Round Four

TORONTO -- Veredex, an Internet logistics company
that focuses on products and services for both shippers
and sameday deliver companies, said it has raised
$4 million in its fourth round of funding from Greybrook,
a Toronto-based venture investment firm. Approximately
$1.5 million of the investment was issued to Veredex
in the form of a bridge loan. The company said it
will use the funding for product development and
for sales and marketing. Greybook said it now maintains
a controlling interest in Veredex, which was previously
financed by individual investors.
http://www.veredex.com/
_____________________________________________

o Wireless Modems Maker Novatel Gets Series D Funds From Intel

SAN DIEGO -- Novatel Wireless, a provider of wireless
data modems and software, said it has received an
undisclosed investment from Intel Capital as part
of its Series D round of funding. The company said
it will use the funds to continue the development
of its high-speed wireless data offerings. In addition
to the investment, Intel and Novatel Wireless have
agreed to cooperate on future wireless technology
initiatives. Novatel announced in July that it had
raised $33.9 million in its Series D round from
Aether Systems, which invested $20 million; Cornerstone
Equity Investors; Ironside Venture Partners; GMN
Investors; and GSM Capital Limited Partnership.
http://www.novatelwireless.com/

======= Bad News =======

o Consulting Firm Omnient Lays Off 62, Names New CEO

BLUE BELL, Pa. -- Omnient, an Internet business
strategy consulting firm, said it layed off 62 employees,
leaving the company with a staff of 25. The company
said it is restructuring its business to focus more
on specific markets. The company also said it appointed
Al Chiaradonna, formerly president and chief operating
officer, to the CEO post. Former CEO Michael Monheit
will remain with the company as a consultant. Mr.
Chiaradonna is former director of Arthur Andersen's
Southeast region. Investors LLR Equity Partners
and New Spring Ventures agreed to invest an undisclosed
amount of additional capital.
http://www.omnient.com/
_____________________________________________

o HalfthePlanet.com, Site for Disabled Community, Closes Doors

NEW YORK -- HalfthePlanet.com, a portal for the
disabled community and their caregivers, said unreceptive
market conditions have forced the company to shut
down. The company, which is in undergoing liquidation,
has closed its offices in New York and Washington
and laid-off all of its 31 employees with severance
pay. The company's chief executive officer, Patricia
Vance, said the decision to shut down was made last
week after months of considering various options
such as merging with or being acquired by another
company, raising additional capital, or selling
its assets. Ms. Vance said the company's current
investors, which include Flatiron Partners and Chase
Capital, were prepared to re-invest in the company
but that the funds would not have been sufficient
to bring the company to profitability. She said
the decision to shut-down was made to avoid having
to file for bankruptcy. HalfthePlanet.com secured
$10 million in its first round of funding from Flatiron
and Chase early in the year.
http://www.halftheplanet.com/
_____________________________________________

o ClearCommerce Pulls IPO Citing Market Conditions

AUSTIN, Texas -- ClearCommerce, which provides transaction
processing software for e-commerce applications,
said it was withdrawing its IPO. The company cited
unfavorable market conditions. ClearCommerce is
backed by investors including Austin Ventures, Financial
Technology Ventures, Hewlett-Packard, Intel, Internet
Capital Group, New Enterprise Associates, and Voyager
Capital.
http://www.clearcommerce.com/

======= New Products =======

o Data Firm TraderBot Changes Name to Vhayu Technologies

LOS GATOS, Calif. -- TraderBot, which develops data
management and analysis applications for the financial
industry, said it has changed its name to Vhayu
Technologies as part of the company's efforts to
extend its products to other industries. The company
received $2 million in a first round of funding
from Garage.com and undisclosed individual investors
last year and is currently seeking $5 million in
a second round.
http://www.vhayu.com/
_____________________________________________

o E-Business Firm Breakthrough Changes Name to iCommerce

SAN JOSE, Calif. -- Breakthrough, an Internet business
software firm that focuses on small and medium businesses
as they adopt online business capabilities, said
it has changed its name to iCommerce to reflect
the scope of the company's services. The company
closed its second round of financing earlier this
year with $8 million from Alignment Capital and
Wand Partners.
http://www.icommerce.com/
_____________________________________________

o Information Services Firm GuruNet Changes Name to Atomica

SAN MATEO, Calif. -- GuruNet, a provider of software
products and services for gaining access to information,
said it has changed its name to Atomica. The name
change coincides with the company's decision to
extend its information retrieval and delivery services
to the knowledge management market. The company
said it plans to launch a suite of Atomica-branded
knowledge management services early next year. Atomica's
investors include Highland Capital Partners, Flatiron
Partners, Chase Capital Partners, Wit SoundView
Ventures (Dawntreader), Israel Seed Partners, America
Online, Goldman Sachs, Robertson Stephens, Garage.com,
and Angel Investors.
http://www.atomica.com/

======= New Deals =======

o IBM Takes Equity and Teams With Kymata, Optical Developer

EAST FISHKILL, NY -- IBM and Kymata, a developer
of optical chip technologies, said they have reached
a multi-year agreement to produce networking chips
for online business applications. Under the agreement
IBM and Kymata intend to develop optical chips to
be used in enabling higher speed distribution of
data across networks. As part of the strategic relationship
IBM has acquired an undisclosed minority stake in
Kymata. Through the agreement IBM is licensing its
siliconoxynitride process technology and pump laser
to Kymata for the manufacture of new chip designs.
Kymata is backed by investors including 3i Group,
ACT Venture Capital, Bowman Capital, BT, ComVentures,
European Venture Partners, GATX European Technology
Ventures, Kleiner Perkins Caufield & Byers, RBS
Mezzanine, Telesoft Partners, and the University
of Southampton. The company has raised $162 million
in equity funding to date.
http://www.ibm.com/
http://www.kymata.com/

======= M&A =======

o Amateur Sports Site Myteam Aquires Soccer Market ASP Zvia

WOBURN, Mass. -- Myteam.com, an amateur sports site,
said it acquired the assets of Zvia, an ASP for
the amateur soccer market for an undisclosed amount.
Zvia's employees will move into the Myteam's offices
and Zvia CEO Ian Davison has become general manager
of Myteam's soccer division. The Myteam site will
now offer soccer information, including instruction,
skills and drills, coaching tips, and soccer application
tools. Myteam.com is backed by, Canaan Partners,
BankBoston, Comdisco, Cleveland Pacific Equity,
Dominion Ventures, Shamrock Capital Advisors, the
Quarterback Club, Charles River Ventures, Creative
Technologies, North Bridge Venture Partners, and
Trident Capital. Individual investors from the sports
and media industry are also backers, including Bobby
Orr, M.L. Carr, John Smith, Bernie Kosar, and Larry
Rawson. Zvia received funding from individual investors.
http://www.myteam.com/
_____________________________________________

o Management Firm Blue Pumpkin Acquires Coleman Consulting

SUNNYVALE, Calif. -- Blue Pumpkin Software, a developer
of call center workforce management software, said
it acquired all the shares of Coleman Consulting
Group, which provides companies with efficiency
consultation. The company said it does not plan
on relocating either company. Richard Coleman, CEO
of Coleman Consulting, will remain on Blue Pumpkin's
executive team. With the acquisition, Blue Pumpkin
hopes to extend its services to include business
process consulting to its clients. Blue Pumpkin
is backed by Van Wagoner Capital Management, Nortel
Networks, Transcosmos USA, Dain Rauscher Wessels,
Siemens Mustang Ventures, and Brentwood Venture
Capital.
http://www.blue-pumpkin.com/
http://www.coleman-consulting.com/
_____________________________________________

o Pumatech Buys Tech Firm SwiftTouch for Under $2 Million

SAN JOSE, Calif. -- Pumatech, a publicly traded
provider of mobile Internet software infrastructure,
said it has signed and closed an agreement to acquire
certain assets of SwiftTouch, a provider of contact
management services and advanced synchronization
technology. Under the terms of the agreement, Pumatech
will pay $320,000 in cash and issue 100,000 shares
of Pumatech common stock, worth approximately $1.6
million. The transaction will be accounted for as
a purchase. Subscribers of Pumatech's Intellisync.com
service bureau will now be able to access information
via WAP-enabled phones or by voice and use features
that automatically update contact information among
groups and users. SwiftTouch received funding from
Lernout & Hauspie Investment Co. and Flanders Language
Valley Fund.
http://www.pumatech.com/

======= New Directors =======

o E-Business Consultant Destiny Names Ex-Mellon Exec to Board

CONSHOHOCKEN, Pa -- Destiny WebSolutions, an Internet
business consultant for financial institutions,
said it named William J. Stallkamp, former vice
chairman of Mellon Financial, to its board of directors.
Mr. Stallkamp also served as chairman and CEO of
Mellon PSFS before his retirement last January.
He is currently a fund advisor for Safeguard Scientifics.
Destiny is backed by Pennsylvania Early Stage Partners,
Women's Growth Capital Fund, New Light Management,
and Blue Water Capital.
http://www.destiny.com/
_____________________________________________

o B2BStreet Names Lynx Principal and Former Avis CEO to Board

NEW YORK -- B2Bstreet.com, an online business-to-business
auction for excess inventory and overstock, said
it named Joseph V. Vittoria and Ottavio Serena to
its board of directors.  Mr. Vittoria is former
chairman and CEO of Avis and currently serves as
executive chairman of Transmedia Asia Pacific and
Puradyn Filter Technologies. Mr. Serena is a principal
of Lynx Partners, a private equity consulting firm
that he co-founded. The board now totals five directors.
B2Bstreet.com is backed by The Focus Group and individual
investors.
http://www.b2bstreet.com/
_____________________________________________

o Insurance Industry E-Business Firm Ontos Names Board Chair

ANDOVER, Mass. -- Ontos, which provides electronic
business technology and software for the insurance
industry, said it has appointed Philip J. Ness as
chairman of its board of directors. Mr. Ness was
formerly chief executive officer of R.V.I Insurance
Group, a company owned by Quantum Industrial Fund.
The company also said he is a partner with several
investment banks specializing in the insurance industry.
Ontos is backed by incuVest and Amphion Capital
Management.
http://www.ontos.com/
_____________________________________________

o Software Firm Tranxition Appoints Tech Exec to Board

BEAVERTON, Ore. -- Tranxition, which develops data
transfer software, said it has appointed Tina Sivinski,
vice president of strategic marketing, sales, and
development at GrandBasin, a technology firm that
focuses on the petroleum industry. Ms. Sivinski
is the board's fourth member. Tranxition received
an undisclosed amount of second-round financing
from Al Shugart International and undisclosed individual
and corporate investors last year.
http://www.tranxition.com/
_____________________________________________

o Wireless Firm PhoneOnline Appoints Comm Exec to Board

KNOXVILLE, Tenn. -- PhoneOnline, a firm that develops
business-to-business wireless applications, said
it has appointed O. Gene Gabbard, chairman and board
member of several telecommunications companies including
ClearSource, Wireless One, ITC Deltacom, and PowerTel,
as the seventh member of its board. PhoneOnline
confirmed that Mr. Gabbard is also on the board
of directors at ITC Holdings, which invested $10
million as part of PhoneOnline's first round of
financing in October of this year.
http://www.phoneonline.com/
_____________________________________________

o Data Analysis Apps Firm DecisionPoint Adds to Board

PORTLAND, Ore. -- DecisionPoint Applications (DPA),
which develops integrated software application that
enables companies to collect, analyze and compare
data, said it has named David Nierenberg to its
board of directors. Mr. Nierenberg is the president
of Nierenberg Investment Management, and has held
several executive positions with Bain & Co., General
Electric Venture Capital, and Trinity Ventures.
DPA has received funding from British Telecommunications,
J. & W. Seligman, IBM, Wilmot Capital, and former
PeopleSoft chairman Dave Duffield.
http://www.dpapplications.com/

======= New People =======

o Israeli E-Payment Firm Transale New CEO to Head U.S. Branch

NEW YORK -- Transale, an Israeli firm which develops
electronic payment applications for Internet and
wireless commerce, said it has appointed Mike Mooney,
former president of MJM Associates and a former
senior manager in the finance industry, as CEO of
Transale's recently opened U.S. subsidiary. Daniel
Rom remains the Tel Aviv-based president of Transale.
Transale also said it has appointed Itzhak Krinsky,
managing director in the mergers, acquisitions,
and corporate advisory group of Deutsche Banc Alex
Brown; and William Aimetti, managing director of
operations and technology at Depository Trust Clearing
Corp, to its advisory board. Overseas Transale raised
its first round of financing from Israeli venture
firm Technorov, small Israeli companies and undisclosed
individuals earlier this year, and is working on
closing its second round.
http://www.transale.com/
_____________________________________________

o Former Mail.com President Named CEO of BountySystems

NEW YORK -- BountySystems, a provider of co-branded
referral marketplaces, said it named Lon Otremba
as chief executive officer. Allen Davis, the company's
founder and acting chief executive officer, will
remain as chairman. Prior to joining the company,
Mr. Otremba was president of Mail.com, a publicly
traded messaging service provider. BountySystems
is backed by Prospect Street Ventures, Sentinel
Capital Partners, Mass Ventures Equity Fund, and
Kestrel Venture Partners.
http://www.bountysystems.com/
_____________________________________________

o Former Oracle Exec Named CEO of Consulting Firm FutureNext

MCLEAN, Va. -- FutureNext Consulting, which provides
business consulting services for the manufacturing
and distribution industries, said it appointed Bill
Hoover as chief executive officer, replacing David
L. Patterson, who left the company in October. Mr.
Hoover was formerly vice president of Oracle Service
Industries. FutureNext is funded by GTCR Golder
Rauner.
http://www.futurenext.com/
_____________________________________________

o Geographic Info Apps Firm geoTouch Taps Software Exec As CEO

PALO ALTO, Calif. -- geoTouch, a firm that is developing
a real-time geographic information management application,
said it has appointed Roger A. Barnes, former CFO
of Internet security firm Cylink, as the company's
first CEO. Mr. Barnes is also former senior vice
president and CFO of Evolving Systems, a developer
of software for telecommunications carriers. geoTouch
raised $7 million in its first round of funding
from Redwood Venture Partners, Gabriel Venture Partners,
and Alliance Ventures in April of this year.
http://www.geotouch.com/
_____________________________________________

o Maximal Names Ex-Gentia Executive as CEO

RESTON, Va. -- Maximal Innovative Intelligence,
a provider of business intelligence technology,
said it has appointed Kenneth Volet as its new chief
executive officer, replacing founder Yoram Meriaz
who will continue with the company as chairman.
Prior to joining Maximal, Mr. Volet was the president
and COO of a division of Gentia Software. Maximal
is backed by AIG Orion, an Israeli-based Venture
capital firm; Dassault D,veloppement; and Shrem
Fudim Kelener.
http://www.maxsw.com/
_____________________________________________

o TerraShare Names Ex-DAI Networks Executive as CEO

ALEXANDRIA, Va. -- TerraShare, a content infrastructure
company which provides users with resource guides
to Web sites, databases, and information on the
Web, said it has appointed Scot Carni as its chief
executive officer. Mr. Carni  joins TerraShare from
DAI Networks, an Internet advertising network. Before
DAI, he co-founded and was president of DigiCities,
a Web-hosting and portal company. TerraShare is
backed by the Aslan Group.
http://www.terrashare.com/
_____________________________________________

o Music.com Names President and CEO as Board Chairman

NEW YORK -- Music.com, a Web site for music industry
professionals, artists and consumers, said that
Philippe Bellosguardo, current president and CEO
of the company, has also been named chairman of
the board. Mr. Bellosguardo replaces Michael Burton,
president and CEO of Music Corp., a holding company
specializing in Internet infrastructure investments
that spun out Music.com. Mr. Burton held the chairman
position during Music.com's startup period and will
remain on as director. The company is backed by
Phillipines-based iAyala, a wholly-owned subsidiary
of Ayala; Citicorp Capital Asia; Berjaya Group,
a Malaysian company; and Music Corp.
http://www.music.com/

======= VC Fund News =======

o Chile's Said, Ericsson, and SAAB Form $30 Million WAP Fund

SANTIAGO, Chile -- Sweden's Ericsson, IT Equity,
which is owned by Chilean financial group Said,
and Swedish automaker SAAB launched a $30 million
venture capital fund called Fund Mifactory. The
new fund, which is Ericcson's first for Latin America,
will focus on companies developing wireless application
protocol (WAP) products in Latin America. The fund
will establish its base in Chile before expanding
to other Latin American companies.
http://www.mifactory.com/
_____________________________________________

o Peel Hunt and Royal Bank of Scotland Launch New Fund

EDINBURGH, UK -- The Royal Bank of Scotland and
Peel Hunt said they formed a new venture fund, South
of England Technology Fund. The fund, which will
be 51% owned by the Bank of Scotland with the remainder
controlled by Peel Hunt, will make investments in
second stage technology companies. The board of
the joint venture is constituted of three members
nominated by the Royal Bank of Scotland and two
representatives of Pell Hunt, Charles Peel, chairman
of the company, and Tom Teichman, chairman of New
Media Spark.
http://www.rbos.co.uk/
http://www.peelhunt.com/

======= VC Personnel =======

o IFP Names Ex-CEO of CMGI Internet as Senior Partner

NEW YORK -- Internet Finance Partners (IFP), which
invests in early stage financial and e-commerce
technologies, said it added Jeff Cunningham as senior
partner. Mr. Cunningham joins current senior partners
Nancy Curtin, Sharon Haugh, and Stewart Binnie.
Prior to joining the company, Mr. Cunningham was
president of CMGI's Internet Media Group and served
as president and CEO of CMGI portfolio firms Zip2
and Myway, both search engines. IFP was launched
earlier this year by Schroders; 2Bridge; and Oliver,
Wyman & Co.
http://www.ifp.com/

======= VW Corrections =======

o Accelerate Mobile

NEW YORK -- Due to incorrect information provided
by the company, an item in Monday's VentureWire
contained incorrect information about Accelerate
Mobile's round of funding. The company raised $2
million in its first round from Digacom Ventures;
Itochu; and individual investor Gwongyih Lee, Cisco
executive and founder of Transmedia. DigiCast did
not participate in the round.
_____________________________________________

o Consilient

NEW YORK -- An item in Monday's VentureWire incorrectly
incorrectly identified Consilient chief executive
officer Jonathan Hare as founder and CEO of Evoke.
Mr. Hare was founder and CEO of Evolve.

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