======================================================
        VENTUREWIRE --- Wednesday, September 13, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o New Enterprise Associates Closes Tenth Fund with $2 Billion
o James Martin & Co., Now Headstrong, Raises $191 Million
o Microsoft Acquires MongoMusic for $65 Million in Stock
o Gabriel Venture Partners Raising New $300 Million Fund
o AOL Invests in Handheld Device Maker for Teens, Cybiko
o Broadband Services Firm Has $45 Million, Part of Round One

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Also in This Issue:

     New Money:
o Web Benefits Provider BeyondWork Raises $14 Million Series A
o $5.25 Million, Launch for Peer-to-Peer Broadband PC Network
o $8.5 Million for Developer of Online Shopping Card for Teens
o Broadband Platform CacheStream Gets $2 Million in Seed Round
o Components Procurement System Gets $6 Million Series A
o Site for Collision Repair Industry Gets $4 Million Round One
o Supermarket Loyalty Firm SmartMouth Gets $4 Million Series A
o Transportation Software Firm Centricity Gets $5 Million Seed
o Web-Based Life Science Firm Secures $10 Million Round One
o Xerox Spin-off GroupFire Raises $7 Million in Initial Funds
o E-Mail Marketing Firm Science Communications Gets Series A
o Government Software Firm GovXcel Secures First Round Funds
o Int'l Wine Trade Firm Vino.com Raises $500,000 Seed Funds
o Interactive Entertainment Firm ZapMedia Adds-on $6 Million
o Power Systems Provider Continuum Has $1 Million First Round
o Streaming Media Company Raises $863,000 in Its First Round
o Tech Strategy Consulting Firm Raises $1 Million Series A
o Wireless Tech Firm JP Systems Raises $45 Million Round Two
o B2B Commerce Firm Prefer Network Gets $12 Million Series B
o ICP Global Broadband To Secure Max $15 Million Series B
o Packet Platform Firm Convedia in  $11.25 Million Round Three
o VoIP Phone Firm Pingtel Raises $12.7 Million Second Round
o New Generation Holdings Invests in WAP Sports News Site
o $3 Million Third Round for Virtual Conference Firm TeleSuite

     New Products:
o Consulting Firm McKinsey Launches Mercosur Accelerator
o B2B for Funeral Services Industry Funeral Exchange Launches
o Busineses Collaboration Firm Parlano Launches

     New Deals:
o Cable & Wireless Inks $350 Million Contract With Tellium

     M&A:
o Accrue Buys Tantau's InfoCharger Technology for $37 Million
o eRealty.com Buys Half of Net Real Estate Transaction Firm
o Data Critical Buys Cardiology Monitoring Firm for $9 Million
o Mobile Service Company Corrigo Acquires invata
o Pioneer Behavioral Health To Acquire TherapyRightNow.com

     New Directors:
o Time Warner CTO Joins Board of Digital Imaging Firm QBeo
o Centric Software Names Former Oracle VP to Board
o Knovel Names Ex-Oxford University Press USA CEO to Board
o Collaborative Commerce Firm Question.com Adds Two to Board
o CRM Software Firm Synchrony Adds Two New Board Members
o Marketing Firm Alistia Adds Two Investors to Board
o Online Benefits Management Firm DoctorQuality Adds to Board
o Streaming Software Provider TeVeo Elects New Board Member
o SupplyLinks Names Ex-Consolidated Freightways CEO to Board

     New People:
o Web Page Builder Bigstep Taps Ex-Wells Fargo VP for CEO
o Epipeline Names Former Annuncio VP as President and COO
o Narus Appoints Its President and COO Mark Stone To CEO Post
o Net Recruiter BrassRing Names New President and CEO

     VC Fund News:
o JatoTech Ventures Announces New $55 Million Technology Fund
o Freedom Hill Capital Launches $50 Million Telecomm Fund
o Polish Incubator e-Katalyst Launches With $7 Million Fund

     VC Personnel:
o Crosslink Capital Expands Operations With Four Appointments
o St. Paul Venture Capital Names Tech Consultant as Partner

     VW Corrections:
o Hispanic Sports
o MarketingInfo

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

o New Enterprise Associates Closes Tenth Fund with $2 Billion

MENLO PARK, Calif. -- Venture capital firm New Enterprise
Associates (NEA) raised its tenth fund for $2 billion,
according to a posting on the firm's Web site. The
firm expects the fund to officially close this week.
Investors in the new fund include the California
State Teachers' Retirement System, Harbourvest Partners,
and General Motors. According to the NEA posting,
which links to a story on Red Herring, the VC firm
will distribute the new fund over three years, making
investments of between $100,000 and $55 million.
http://www.nea.com/
_____________________________________________

o James Martin & Co., Now Headstrong, Raises $191 Million

NEW YORK -- Internet services firm james martin
& co. said it received $191 million in funding and
has become Headstrong, a provider of digital strategy
services. Welsh Carson Anderson & Stowe invested
$173 million and H&Q Asia Pacific invested $18 million.
Bruce Anderson, Scott Mackesey, and Rob Minicucci
from Welsh Carson Anderson & Stowe, and Ed Davis
of H&Q will sit on the company's board of directors.
The company will use the funding for training, sales
and marketing, technology acquisition, and forming
strategic partnerships. Headstrong's services include
activity in sectors such as digital strategy, channels,
relationships, intelligence and business ecosystem
integration.
http://www.headstrong.com/
_____________________________________________

o Microsoft Acquires MongoMusic for $65 Million in Stock

REDMOND, Wash. -- Microsoft said it acquired Menlo
Park, California-based MongoMusic, which provides
online music technology. A source close to MongoMusic
confirmed that the acquisition was made in an all-stock
transaction valued at $65 million. Microsoft will
completely absorb MongoMusic and will retain all
of the company's employees and move them to Redmond,
Washington. MongoMusic's Web site will continue
to operate for an undetermined amount of time. MongoMusic
received its backing from Angel Investors, Argus
Capital, Draper Richards, Nokia Ventures, and Sony
Music Entertainment.
http://www.microsoft.com/
http://www.mongomusic.com/
_____________________________________________

o Gabriel Venture Partners Raising New $300 Million Fund

TYSON'S CORNER, Va. -- Gabriel Venture Partners
said it is raising a new $300 million venture capital
fund. The fund, the firm's second, will make  early-stage
investments of between $5 million and $7 million
per company. The fund will focus on the IT sector,
with an emphasis on Internet and telecommunications
businesses. Gabriel will seek to control between
20% and 30% of the companies it invests in with
board seat representation. The firm expects to close
the fund before the end of 2000. Gabriel's prior
fund was capitalized at about $100 million.
http://www.gabrielvp.com/
_____________________________________________

o AOL Invests in Handheld Device Maker for Teens, Cybiko

BLOOMINGDALE, Il. -- Cybiko, a developer of handheld
electronic devices, said it received an invesment
from America Online. As part of the deal, Cybiko
will incorporate AOL features on its handheld device.
Cybiko's system combines wireless chatting, interactive
gaming, e-mail, and personal digital assistant capabilities
into a device designed for teens. The company offers
free game and application downloads on its Web site.
http://www.cybiko.com/
http://www.aol.com
_____________________________________________

o Broadband Services Firm Has $45 Million, Part of Round One

NEW YORK -- InfoHighway Communications, a provider
of broadband communications services, said it received
$45 million of a $150 million first round commitment
from new and sole investor GTCR Golder Rauner. The
company will use the funds to expand its IP-based
network. GTCR Golder Rauner will receive two seats
on the company's board.
http://www.infohighway.com/

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

o Web Benefits Provider BeyondWork Raises $14 Million Series A

TEL AVIV, Israel -- BeyondWork, an Internet-based
work/life benefits provider, said it closed its
first round with $14.2 million. Major investors
were New Enterprise Associates, Polaris Venture
Capital, and several undisclosed private investors.
The company will use the funds to expand its business
nationwide. Telephone 03-5611424  ext. 119.
_____________________________________________

o $5.25 Million, Launch for Peer-to-Peer Broadband PC Network

NEW YORK -- DataSynapse, a peer-to-peer broadband
Internet network focused on the financial services
sector, said it will officially launch Sept. 18
after receiving $5.25 million in Series A financing.
Rare Ventures and NeoCarta Ventures led the round,
joined by New York City Investment Fund, Silicon
Alley Venture Partners, LLC, Wand Partners and Broadview
Inernational. The company said it will use the funds
to increase staff in its New York and San Francisco
offices and for marketing.
http://www.datasynapse.com/
_____________________________________________

o $8.5 Million for Developer of Online Shopping Card for Teens

LONDON -- Splash Plastic, which is developing a
pre-pay shopping card so that teenagers may make
online purchases without owning a credit card, said
it raised GBP 6 million ($8.5 million) in its first
round. Investors in the round include GE Equity,
Global Retail Partners, and Arts Alliance. The company
said it will use the funding for product development.
Splash Plastic will enable teen users to deposit
money in "paypoints" located in major shopping areas.
Deposits will be uploaded into the card holder's
account and immediately become available for online
shopping. The company is also partnering with UK
payment distribution networks to develop a network
estimated at 60,000 retail locations where the card
could be uploaded.
http://www.geequity.com/
http://www.splashplastic.com/
_____________________________________________

o Broadband Platform CacheStream Gets $2 Million in Seed Round

NORCROSS, Ga. -- CacheStream, which produces software
for the delivery, storage and security of broadband
content, said it raised $2 million in its seed round
of financing from Q6 Technologies. The company said
the funds will support sales, marketing and product
development. CacheStream also acquired DataCast
and International Broadcasting Technology in private
stock transactions, and created CacheStreams Enabling
Service Platform using technology and products from
both companies.
http://www.cachestream.com/
_____________________________________________

o Components Procurement System Gets $6 Million Series A

MARINA DEL REY, Calif. -- FASTXchange, an Internet
procurement system focused on the high growth electronic
components industry, has completed a $6 million
Series A round of financing led by InVenture. Sean
Deson of Deson & Co., which acted as an advisor
to the placement, was named to FASTXchange's board
of directors. Six members now sit on FASTXchange's
board.
http://www.fastxchange.com/
_____________________________________________

o Site for Collision Repair Industry Gets $4 Million Round One

IRVINE, Calif. -- ProcessClaims.com, an online company
that links insurance collision repair industries
with trading partners, said it has raised $4 million
in its first round of funding. The round was led
by Michael Schwab's Big Sky Partners, which invested
$2 million in the company. The money will be used
for ongoing product development and for service
roll-out. Other investors in this round include
Orange County Tech Coast Angels and Springboard
Capital. Mr. Schwab will join ProcessClaims.com's
board of directors, as will Dave March of the Tech
Coast Angels. To date, the company has raised $5
million. Prior investors in the company include
 Bryan Rutberg of UBS Warburg, Iggy Fanlo of DealTime.com,
Juno Madan of Neptune Capital, and Isabel Maxwell
of Commtouch.com.
http://www.processclaims.com/
_____________________________________________

o Supermarket Loyalty Firm SmartMouth Gets $4 Million Series A

WATERTOWN, Mass. -- SmartMouth Technologies, a company
implementing Web-based and wireless loyalty strategies
for the supermarket industry, said it has raised
$4 million in its Series A round of funding. The
investment was led by Advent International and included
funds from Onstead Interest. The company also said
Ann Bilyew, principal at Advent, and Robert Onstead,
founder and former chairman of Randalls Food Markets,
have joined SmartMouth's board of directors. Mr.
Onstead is the chairman and founder of Onstead Interest.
SmartMouth creates online strategies and customer
relationship management software for grocery retailers.
When the company's Web site launches early next
year, it will offer a service that tracks buying
tendencies in the loyalty cards people use for discount
services when they shop at traditional supermarket
chains. SmartMouth will analyze loyalty card data
and provide consumers with information on further
discounts and health tips according to their buying
habits. SmartMouth said it is beginning to raise
a Series B round of financing. Telephone 617-926-9088.

_____________________________________________

o Transportation Software Firm Centricity Gets $5 Million Seed

ATLANTA -- Centricity, a provider of Web-deployed
transportation software for domestic and international
businesses, said it has raised $5 million in its
seed round of funding. Lead investor Trencor Limited,
a South African holding company, finalized the investment
in early July after receiving board approval. The
company said the funds will be used to accelerate
development of its Internet-based shipping services.
The company has not yet announced new board members
following this round of funding. Centricity said
it has already embarked on raising its next round
of funds.
http://www.centricity.com/
_____________________________________________

o Web-Based Life Science Firm Secures $10 Million Round One

BOSTON -- ActiveCyte, a Web-based decision support
service and licensing exchange for the international
bio-pharmaceutical industry, said it has secured
$10 million in its first round of funding from Internet
HealthCare Group (IHCG), a healthcare holding company
backed by Internet Capital Group. ActiveCyte was
created by The Boston Consulting Group (BCG), and
said it expected to launch during the first part
of 2001.
http://www.activecyte.com/
http://www.ihcg.com/
_____________________________________________

o Xerox Spin-off GroupFire Raises $7 Million in Initial Funds

REDWOOD CITY, Calif. -- GroupFire, a provider of
a Web infrastructure and service, said it raised
$7 million in a private round of funding from Xerox,
Ridgewood Capital, Dawntreader Fund I LP, and individual
investors. GroupFire is a spin-off of Xerox Corp's
Palo Alto Research Center. GroupFire, the company's
code name, plans to unveil its new name and launch
products with business partners later this year.
http://www.groupfire.com/
_____________________________________________

o E-Mail Marketing Firm Science Communications Gets Series A

HUNTSVILLE, Ala. -- Science Communications, a provider
of e-mail marketing services, said it received an
undisclosed amount of funding from Austin Trust
in its Series A round. The company said it will
use the funds to support product development.
http://www.sciencecommunications.com/
_____________________________________________

o Government Software Firm GovXcel Secures First Round Funds

PARLIN, N.J. -- GovXcel, a producer of government
software for construction permits, property maintenance,
land use, zoning and civic complaint tracking, said
it received an undisclosed amount of first-round
funding from Invesco Private Capital and individual
investors. The company plans on using the funds
for marketing and product development.
http://www.govxcel.com/
_____________________________________________

o Int'l Wine Trade Firm Vino.com Raises $500,000 Seed Funds

ATLANTA -- Vino.com, a new startup that will focus
on the international wine industry, said it raised
$500,000 in seed funding from NextStart Capital.
Vino.com is in the process of searching for a CEO
and did not disclose the exact nature of its business.
But a spokesperson for Vino.com said the company
plans to assist international wineries in entering
other markets, particularly in the U.S., and that
it will develop a service that will create new channels
for international trade, new opportunities for the
wineries, and better information flow throughout
the chain. Telephone 770-643-5505.
_____________________________________________

o Interactive Entertainment Firm ZapMedia Adds-on $6 Million

ATLANTA -- ZapMedia, a convergence technology company
that provides interactive entertainment, said it
has secured an additional $6 million in its first
round of funding from Harman International, Eastern
Asia Technology, Alliance Technology Ventures, and
Five Paces Venture. The additional funding brings
the total amount raised in this round to $25 million.
The company, which has raised $28 million in venture
capital to date, said it also has a $270 million
partnership with media conglomerate Gannet, aimed
at enabling ZapMedia to build brand awareness and
giving the company access to a wide variety of content.
ZapMedia said it will use the new funding for additional
growth and working capital.
http://www.zapmedia.com/
_____________________________________________

o Power Systems Provider Continuum Has $1 Million First Round

BILLERICA, Ma. -- Continuum Control, which provides
integrated piezoelectric power systems, said it
has closes a $1 million first round of funding led
by Massachusetts Technology Development that included
a number of individual investors.The company said
it will use the funds to expand product development
and marketing groups.
http://www.continuumcontrol.com/
_____________________________________________

o Streaming Media Company Raises $863,000 in Its First Round

BRUSSELS -- StreamCase, a Ghent, Belgium-based company
which provides streaming media services, said it
raised EUR 1 million ($863,000) in its first round
of funding. The investment was made by Belgacom
Multimedia Ventures, a venture capital fund investing
in information and communication technologies. Belgacom
will receive a 20% equity stake as a result of its
investment, giving StreamCase a valuation of $4.3
million. The company said it will use the funding
for further staffing and product development. StreamCase
currently employs eight but plans to increase its
staff to twenty by the end of the year.
http://www.streamcase.com/
_____________________________________________

o Tech Strategy Consulting Firm Raises $1 Million Series A

SAN FRANCISCO -- Eleven Acceleration, an Internet
business consulting firm providing technology strategy
and architecture services to business-to-business
companies, said it  has raised $1 million in its
Series A round of funding from individual investors.
The funding will be used for additional marketing
and hiring, the company said. Eleven Acceleration
was founded in early 2000 by product strategists
from Sun, Netscape, RightWorks, and Cohera.
http://www.elevenacceleration.com/
_____________________________________________

o Wireless Tech Firm JP Systems Raises $45 Million Round Two

DALLAS -- JP Systems, which develops wireless enabling
technology and services, said it has closed its
second round of funding at $45 million. The round
included Baker Communications Fund II, Odyssey Investment
Partners Fund, Investor AB, Global Technology Group
Ventures and Pacesetter Growth Fund. Strategic partners
that participated in the round included Network
Associates, Complete Business Solutions, and Glenayre
Technologies. The company said it will use the funds
to accelerate its product development plan and to
increase global sales and marketing efforts.
http://www.jpsystems.com/
_____________________________________________

o B2B Commerce Firm Prefer Network Gets $12 Million Series B

NEW YORK -- Prefer Network, a business-to-business
e-commerce facilitator, said it raised $12 million
in its series B round of funding, led by Desai Capital
Management. Other investors include Prospect Street
Ventures, Draper Richards, eCom Partners, Pennell
Venture Partners, Stonehenge Capital, BNY Capital
Markets, Foster Management, and individual investor
Rick Black. The company said it will use the funds
to expand operations, to develop its product and
transactional database capabilities, and to support
marketing.
http://www.prefernetwork.com/
_____________________________________________

o ICP Global Broadband To Secure Max $15 Million Series B

NEW YORK -- Global Broadband, a facilities-based
integrated communications provider (ICP), said it
expects to close its Series B funding round raising
between $11 million and $15 million by the end of
this month. The company declined to disclose the
names of the investors, but said a Boston-based
venture capital firm is the round's lead investor.
In addition to the investment, the company announced
it has secured $1 million loan from Silicon Valley
Bank, which it will use to hire a direct sales team,
purchase software and execute switching network
purchase agreements.
http://www.glbbinc.com/
_____________________________________________

o Packet Platform Firm Convedia in  $11.25 Million Round Three

VANCOUVER -- Convedia, a provider of enhanced service
processing platforms for packet networks, said it
gained $11.25 million in its third round of financing,
led by Celtic House Investments. Alcatel, MDS Capital,
Ontario Teachers Pension Fund and Altamira also
participated in the round. The company said the
funds will be used for product development and marketing.
The company also announced that Peter Briscoe, co-founder
and former vice president of marketing, was promoted
to president and chief executive officer of the
company.
http://www.convedia.com/
_____________________________________________

o VoIP Phone Firm Pingtel Raises $12.7 Million Second Round

WOBURN, Mass. -- Pingtel, creator of Java-based,
voice-over-IP phones and management software, said
it closed its second round of funding with $12.7
million. Investors included first-round investor
St. Paul Venture Capital and new investors Dain
Rauscher Wessels, Intel Capital, Wind River and
other undisclosed strategic investors. The company
said it will use the funds for product development,
marketing, sales and support.
http://www.pingtel.com/
_____________________________________________

o New Generation Holdings Invests in WAP Sports News Site

NEW YORK -- New Generation Holdings, the holding
company for New Generation Partners, said it made
an investment in WAPaResult.com, a wireless provider
of sports updates that launched in March. Further
details of the investment were undisclosed. The
investment will enable the development and acceleration
of the site, according to the company. The WAPaResult.com
site was also named as one of the 20 content providers
on the Psion wireless service. Next Generation Partners
invests in startup companies throughout Europe and
provides consulting services and support for U.S.
companies entering European markets. Telephone +41-22-707-1575.

_____________________________________________

o $3 Million Third Round for Virtual Conference Firm TeleSuite

DAYTON, Ohio -- TeleSuite, which develops and operates
virtual presence conferencing environments over
its digital broadband private network, said it received
$3 million in its third round from New Media Venture
Partners. The company said it plans to use the funds
toward expansion of existing projects, staffing
and marketing.
http://www.telesuite.com/

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

o Consulting Firm McKinsey Launches Mercosur Accelerator

SAO PAULO -- Consulting firm McKinsey & Co. said
it launched an incubator for Latin America, @McKinsey:Mercosur,
one of 26 in @McKinsey's worldwide network. It will
incubate high tech companies, help established companies
go online, work with venture capital firms, and
assist start-up companies that have already received
some funding. The incubator is one of 26 worldwide
@McKinsey locations. The incubator will operate
in Mercosur, the trade zone encompassing Argentina,
Brasil, Chile, Paraguay, and Uruguay. The incubator
has incubated five companies to date. These include
Cultura Inglesa, an English language Web site, three
business-to-business firms and a mobile e-commerce
company.
http://www.atmckinsey.com/
_____________________________________________

o B2B for Funeral Services Industry Funeral Exchange Launches

DALLAS -- Funeral Exchange, a business-to-business
vertical exchange and portal for the funeral services
industry in North America, announced it has launched.
The company, which will offer procurement and supply
chain automation tools, is backed by individual
investors.
http://www.funeralexchange.com/
_____________________________________________

o Busineses Collaboration Firm Parlano Launches

CHICAGO -- Parlano, which enables real-time collaboration
and data messaging within business communities,
announced it has launched. The company was formed
through the alliance of UBS Warburg, a business
group of UBS, and divine interVentures, a technology
holding company and business-to-business Internet
incubator. Both have provided the company with equity
financing.
http://www.parlano.com/

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

o Cable & Wireless Inks $350 Million Contract With Tellium

OCEANPORT, N.J. -- Tellium, which provides intelligent
optical switches, said it signed an agreement with
Cable & Wireless, the publicly traded telecommunications
group, worth at least $350 million over five years.
Tellium's product will become the key component
of the Cable & Wireless optical core network enabling
higher speeds of data management and transmission.
Tellium is backed by investors including Thomas
Weisel Partners, Pequot Capital, Accel Partners,
Blue Rock Capital Investors, Cisco Systems, Oak
Investment Partners, Ortel, SAIC, and Worldview
Technology Partners.
http://www.tellium.com/

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

o Accrue Buys Tantau's InfoCharger Technology for $37 Million

AUSTIN, Texas -- Tantau Software, a provider of
software and services that enable mobile e-commerce,
said it sold its InfoCharger technology, an Internet
data mining technology that processes and analyzes
data in large databases, to publicly traded Accrue
Software. Accrue, a provider of Internet business
analytic services, purchased InfoCharger for 1.67
million shares of stock and $5 million in cash.
Accrue's stock was down $2.25 to $19.125 per share
at yesterday's close, putting the value of the stock
portion of the deal at approximately $32 million.
Tantau, which closed a $40 million in Series B financing,
plans to use the funding product development and
to form partnerships. The company's backers include
Chase Capital Partners, General Motors Investment
Management Corp., Hewlett-Packard, Nokia, and the
Texas Growth Fund, Austin Ventures, Compaq Computer,
and Techno Venture Management.
http://www.accrue.com/
http://www.tantau.com/
_____________________________________________

o eRealty.com Buys Half of Net Real Estate Transaction Firm

HOUSTON -- eRealty.com, a national online real estate
brokerage, said it acquired half of the assets of
TitleLink, an independent online real estate transaction
management system, from ASP Interliant for an undisclosed
amount. National flood compliance service provider
Geotrac purchased the other half of the company.
eRealty.com's backers include TL Ventures and Polaris
Venture Partners.
http://www.erealty.com/
_____________________________________________

o Data Critical Buys Cardiology Monitoring Firm for $9 Million

BOTHELL, Wash. -- Data Critical, a provider of wireless
and Internet-based health care communication technology,
said it acquired Paceart, a provider of pacemaker
and arrhythmia patient monitoring software, for
approximately $6 million in cash and 300,000 shares
of common stock valued at about $3 million. The
deal also includes a provision for an additional
cash payment of $400,000 if certain conditions are
met next year. Data Critical said it will retain
most of Paceart's employees. Dr. Michael Bergelson,
president and CEO of Paceart Associates, will retain
his position and become a vice president at Data
Critical. Brad Harlow, currently senior vice president
of business development at Data Critical, will also
become the general manager of the Paceart division.
Paceart is backed by individual investors.
http://www.datacritical.com/
_____________________________________________

o Mobile Service Company Corrigo Acquires invata

REDWOOD CITY, Calif. -- Corrigo, which provides
mobile service management for organizations with
large, mobile service and field operations, said
it has acquired Invata International, a company
that specializes in computerized maintainance management
systems and accounting systems, for an undisclosed
amount. Corrigo and invata will operate as Corrigo,
with Corrigo president Rick Michaux as president
of the combined entity and invata's Andrew Marks
as vice president of retail operations. Corrigo
is backed CMGI Ventures, Marcus & Millichap Real
Estate Investment Brokerage Company, Asset Management
Company, Arba Seed Investment Group, Woodside Group,
Gray Cary Ware & Freidenrich, and Staenberg Private
Capital. Individual investors Mark Bromely, the
chairman of Gables Residential Trust, and William
Wilson, the Chairman of Cornerstone Properties,
have also provided the company with funding. Invata
is backed by undisclosed individual investors.
http://www.corrigo.com/
_____________________________________________

o Pioneer Behavioral Health To Acquire TherapyRightNow.com

PEABODY, Mass. -- Publicly traded Pioneer Behavioral
Health, which provides inpatient and outpatient
behavioral health services, said it has signed a
letter of intent to acquire TherapyRightNow.com,
an interactive self-care service. The terms of the
transaction were not disclosed. The company also
announced it has named TherapyRightNow founder Joyce
Reitman as CEO. TherepyRightNow, which is now seeking
Series B funding, is backed by individual investors.
http://www.therapyrightnow.com/

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

o Time Warner CTO Joins Board of Digital Imaging Firm QBeo

NORTH BEND, Wash. -- QBeo, which makes digital enhancement
technology, said  Michael Dunn, chief technology
officer of Time Warner, has been added to the company's
four-member board of directors. Mr. Dunn was previously
chief technology officer of Dell Computers' online
unit. QBeo is funded by Encompass Ventures.
http://www.qbeo.com/
_____________________________________________

o Centric Software Names Former Oracle VP to Board

SAN JOSE, Calif. -- Centric Software, a provider
of Web-based collaborative product development software
for the distributed design chain, said it has appointed
Pier Carlo Falotti to its board of directors. Mr.
Falotti was elected to the board due to his experience
in building operations within European and global
markets, the company said. He served most recently
as executive vice president of Oracle, responsible
for managing its European business. He currently
sits on the boards of First Virtual Corporation,
Logitech, and Linkvest. Centric Software recently
raised $10 million from BancBoston Ventures, Boston
Capital Ventures, Kline Hawkes & Co, Arthur Rock,
and Seacoast Capital Partners.
http://www.centricsoftware.com/
_____________________________________________

o Knovel Names Ex-Oxford University Press USA CEO to Board

NORWICH, N.Y. -- Knovel, a provider of an interactive
information marketplace focused on scientific and
engineering information, said it appointed Edward
W. Barry to its board of directors. Mr. Barry was
a chief executive officer and president of Oxford
University Press USA and currently serves on the
board of iUniverse.com. Knovel is funded by NBT
Capital.
http://www.knovel.com/
_____________________________________________

o Collaborative Commerce Firm Question.com Adds Two to Board

AUSTIN, Texas -- Question.com, an information exchange
forum for buyers, vendors, and industry experts,
said it added Harvey Seegers, chief executive officer
of GE Global eXchange Services, and Dave Edwards,
a partner at Charles River Ventures, to its board
of directors. Seegers and Edwards join existing
members John Thornton, Austin Ventures general partner;
co-founder Hark Weghorst; and CEO and chairman David
Sikora. Question.com is funded by Austin Ventures,
Charles River Ventures, GE Equity, GE Global eXchange
Services, and Vignette.
http://www.question.com/
_____________________________________________

o CRM Software Firm Synchrony Adds Two New Board Members

CINCINNATI -- Synchrony Communications, a provider
of Internet-based CRM software, said it has elected
Thomas Barker to its board of directors. Mr. Barker
is the president and CEO of West TeleServices, which
invested an undisclosed amount in the company's
second round that totaled $27 million. Synchrony
also named Trevor Kienzle, vice president of GE
Equity, another investor, to its board. Synchrony
has raised more than $40 million to date and has
seven board members. The company is also backed
by Vignette, Patricof & Co. Ventures, Charles River
Ventures, and Great American Insurance.
http://www.synchrony.net/
_____________________________________________

o Marketing Firm Alistia Adds Two Investors to Board

AUSTIN, Texas -- Alistia, an online direct marketing
service for brokers and managers, said it added
Clint Bybee, managing director of Arch Venture Partners,
and Alan Hirschfield, vice chairman of J Net Enterprises,
 to its board of directors. The two join Alistia
chief executive officer Janet Rubio and senior vice
president Patrick Laughlin. Alistia is funded by
Arch Venture Partners and J Net Enterprises.
http://www.alistia.com/
_____________________________________________

o Online Benefits Management Firm DoctorQuality Adds to Board

PHILADELPHIA -- DoctorQuality, an online benefits
management company, said it appointed Dr. David
Nash to its 11-member board of directors. Dr. Nash
is the founding director of  the Office of Health
Policy and Clinical Outcomes at Jefferson University
Hospital and associate professor of medicine at
Jefferson Medical College. DoctorQuality is funded
by Pennsylvania Early Stage Partners and Mid-Atlantic
Venture Funds.
http://www.doctorquality.com/
_____________________________________________

o Streaming Software Provider TeVeo Elects New Board Member

MOUNTAIN VIEW, Calif. -- TeVeo, a developer of real-time
streaming software and Internet video services,
said it has appointed Peter Liu, an investor in
the company, to its board of directors. Mr. Liu
is the founder of WI Harper Group and is the third
member of TeVeo's board, which also consists of
founder and chief executive officer Michael Kuehn
and chief technology officer Klaus Schmidt. TeVeo
recently secured $3 million in Series A funding
from WI Harper and individual investors.
http://www.teveo.com/
_____________________________________________

o SupplyLinks Names Ex-Consolidated Freightways CEO to Board

SAN FRANCISCO -- SupplyLinks, a global supply chain
network and logistics service provider, said it
has appointed W. Roger Curry to its board of Directors.
Mr. Curry is the former president and CEO of Consolidated
Freightways. He also served as president and CEO
of Emery Worldwide. Mr. Curry co-founded Logisticom
Ventures, a venture capital firm. SupplyLinks is
backed by New Meadows Ventures and Global Logistics
Technologies.
http://www.supplylinks.com/

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

o Web Page Builder Bigstep Taps Ex-Wells Fargo VP for CEO

SAN FRANCISCO -- Bigstep.com, an online web page
builder targeted at small businesses, named Lucy
Reid as chief executive officer, replacing co-founder
Andrew Beebe, who is now chairman of the board of
directors. Ms. Reid was formerly executive vice
president of the Consumer Banking Group at Wells
Fargo Bank. Bigstep.com is funded by Worldview Technology
Partners, InterWest Partners, Cardservice International,
Compaq Computers, Office Depot, U.S. Venture Partners,
Mayfield Fund, the Washington Post Company, Angel
Investors, LP, Partech International, Draper Richards,
Argus Capital, Staenberg Private Capital, and undisclosed
private investors.
http://www.bigstep.com/
_____________________________________________

o Epipeline Names Former Annuncio VP as President and COO

ATLANTA -- Epipeline, a developer of Web-based business
development platforms for government contractors,
said it has appointed Scott Fletcher as president
and COO. Fletcher will direct epipeline's growth
strategy, beginning with the launch of its product
this fall. Prior to joining epipeline, Mr. Fletcher
served as vice president of worldwide client services
at Annuncio Software, an e-marketing software provider.
 Epipeline is backed by Healtheon/WebMD Corporation,
Robinson-Humphrey, Alston & Bird, VerticalOne, PTEK
Holdings, and MRW Capital.
http://www.epipeline.com/
_____________________________________________

o Narus Appoints Its President and COO Mark Stone To CEO Post

PALO ALTO, Calif. -- Narus, which provides IP service
providers with infrastructure technology for implementing
new services, said it appointed Mark Stone, the
company's president and COO, as its new CEO. Mr.
Stone will assume the CEO role from founder Orin
Cohen, who is now chief technical officer. Mr. Cohen
will also remain chairman of the board. Narus is
backed by Mayfield Fund, Walden Ventures, Chase
Capital Partners, MediaOne Ventures, and Frontier
Internet Ventures.
http://www.narus.com/
_____________________________________________

o Net Recruiter BrassRing Names New President and CEO

SANTA CLARA, Calif. -- BrassRing, a provider of
integrated online and off-line recruiting and hiring
management services, said it will name Deborah Besemer
as president and CEO, replacing Joan Sills as CEO.
Ms. Sills became CEO as part of BrassRing's acquisition
of Westech Career Expo in January and oversaw the
integration of the Westech's career event and online
businesses into BrassRing, the company said. Ms.
Besemer was previously the president and CEO of
the company's BrassRing Systems division. BrassRing
is backed by Accel Partners; Central Newspapers;
Kaplan, a subsidiary of the Washington Post; and
the Tribune Company.
http://www.brassring.com/

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

o JatoTech Ventures Announces New $55 Million Technology Fund

AUSTIN, Texas -- JatoTech Ventures, a venture capital
firm, announced it has raised $55 million for its
first fund through institutional and individual
investors. The company said it raised the funds
in less than two months and has already invested
more than $1 million a piece in four technology-based
start-up companies and provided seed financing for
a fifth. Jatotech said its first fund will invest
about $4 million per company in eight to ten portfolio
companies during several early rounds of funding.
http://www.jatotech.com/
_____________________________________________

o Freedom Hill Capital Launches $50 Million Telecomm Fund

NEW YORK -- Freedom Hill Capital announced the formation
of Freedom Hill Venture Fund, a $50 million fund
that will focus on equity investments in telecommunications
and optical technology companies. Freedom Hill Capital
said it would make individual investments up to
$5  Million. Freedom Hill Capital's principals are
Alan Cohn, who served under Chairman Kennard and
Hundt at the Federal Communications Commission;
Jeff Ross, who is an officer of Time Domain Corporation;
Ron Kuzon, Managing member of Sterling Capital;
Michael Asch, President of Anniston Capital; and
Mark Cohen, a Partner a Sandler O'Neill & Partners.
 The principals' previous telecommunications investments
included Metromedia Fiber Network  and FiberNet
Telecom Group.
_____________________________________________

o Polish Incubator e-Katalyst Launches With $7 Million Fund

WARSAW -- e-Katalyst, an incubator concentrating
on Polish companies in the Internet and wireless
sectors, announced its launch. The incubator is
backed by 31 million Zlotys ($7 million) financed
by Jupiter NFI, which has agreed to invest $5.6
million, and its management team. The company intends
to invest in four companies in 2000 and in 8-10
by 2001. The incubator will make an investment of
up to $340,000 in each of its incubated companies
and expects the incubation period to take between
4-8 months. Of the incubator's investors Jupiter
will hold a 50.1% stake and the management team
will hold the other 49.9%.
http://www.ekatalyst.pl/

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

o Crosslink Capital Expands Operations With Four Appointments

SAN FRANCISCO -- Crosslink Capital said it named
four to new positions and relocated to larger offices
in San Francisco. The company's new appointments
include Jason Sanders, who joins Crosslink's Omega
Ventures Fund as principal and general partner;
Tucker Brockhoff, also a principal and now portfolio
manager in public equities; and Sonia Survanshi
and Chris Kaegi, who are joining the firm as venture
associates. Crosslink Capital invests in all stages
of a company's development. The venture capital
firm's portfolio includes Saba Aoftware, Mainspring,
Virage Logic, Breakaway Solutions, and OnDisplay.
http://www.crosslinkcapital.com/
_____________________________________________

o St. Paul Venture Capital Names Tech Consultant as Partner

ANDOVER, Mass. -- St. Paul Venture Capital has named
Staffan Ericsson as a venture partner. Mr. Ericsson
is a consultant to high-tech companies, including
RealNetworks, and a director at Avian Communications,
GeoVantage, and Billiant AB. St. Paul Venture Capital's
portfolio of companies includes Bravanta.com, Altaworks,
I Tradar.com, and Cartia.
http://www.stpaulvc.com/

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

o Hispanic Sports

NEW YORK -- A story in yesterday's VentureWire about
a new board member election at Hispanic Sports listed
an incorrect contact phone number. Hispanic Sports
can be reached at 619-497-5413.
_____________________________________________

o MarketingInfo

NEW YORK -- An item in Monday's VentureWire about
the launch of MarketingInfo incorrectly listed listed
the Advertising Research Foundation (ARF) as an
investor. ARF is a non-profit organization that
does not make investments, but is a MarketingInfo
partner.

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