NEOPLANET ANNOUNCES $23 MILLION SECOND-ROUND FINANCING
TEMPE, Arizona, July 10, 2000 – Software developer NeoPlanet Inc., today
announced it has garnered $23 million in a second round of funding from
venture financiers including Integral Capital, J&W Seligman, Constellation
Ventures, Broadview and various existing and new investors.
“NeoPlanet is entering a new period of development and expansion with the
backing of world-leading investment firms,” said Drew Cohen, president and
CEO, NeoPlanet Inc. “As the value of a strong desktop presence becomes more
important to media and technology leaders, NeoPlanet is developing a suite
of private label solutions based on persistent clients.”
NeoPlanet’s customers and distribution partners currently include Lycos, USA
Networks, MTV, Universal Pictures, Interscope Records, New Line Cinema,
Network Associates and other media and technology leaders. Since January
1999, NeoPlanet software has reached the desktops of more than 5 million
Internet users, and the company has raised a total of $41 million in venture
“NeoPlanet’s enhanced browser and other persistent client products afford
its partners a powerful medium for building brands, growing traffic, and
capitalizing on previously inaccessible one-to-one marketing opportunities,”
said Neil Strumingher, partner at Integral Capital Inc. “Integral Capital
is proud to support NeoPlanet’s strategic vision as the company emerges as
the leading provider of enhanced browser products and services.”
Additional participants in NeoPlanet’s second round of financing include CIT
Venture Capital, Wheatley Capital, Northstar Capital Partners, Winfield
Capital Corp., Valhalla Capital, Stephens Group, Inc. and The Acorn Fund.
NeoPlanet’s $23 million in second round financing is slated to help drive
the company’s expansion and development in the enhanced browser and
persistent client market, funding strategic infra-structural development and
key new product and marketing initiatives.
NeoPlanet combines content, communications and community to bring the best
of the Internet to the consumer's desktop. The company allows users to
reflect their own "Internet Fashion" by customizing NeoPlanet's Internet
Desktop through personalized "skins." NeoPlanet features a built in
directory of user customizable Content Channels featuring Lycos' leading
Internet content allowing users to personalize their surfing experience.
Distribution channels include ISPs, OEMs, Web sites and direct marketers.
NeoPlanet is free and easy to download at http://www.NeoPlanet.com.
NeoPlanet, Inc. patent pending.
About Integral Capital
Integral Capital Partners operates a family of partnerships that invests in
expansion-stage private and growth-stage public companies in the information
technology and life sciences industries. Integral is an active investor,
both in the venture and public stages and operates with the extended
resources of a network that includes Kleiner Perkins Caufield & Byers,
Silver Lake Partners, and a wide variety of the industry’s premier venture
capital firms. Integral Capital is headquartered in Menlo Park, California.
About J&W Seligman
For more than 136 years, J&W. Seligman & Co. has consistently provided
its clients with investment strategies that seek to manage risk and build
wealth over time. Since its founding in 1864, the firm has played a pivotal
role in the development of US financial markets. Today, the firm manages
more than $40 billion in assets and offers a full range of investment
products and services designed to help both individual and institutional
investors seek to achieve their long-term financial goals. J&W Seligman
is headquartered in New York City.
About Constellation Ventures
Constellation Ventures is a $100 million venture capital fund investing in
early to mid-stage companies that capitalize on the convergence of media,
communications and technology. Constellation Ventures aims to bridge the gap
between creativity and technology, investing in content networks and
enabling technologies that leverage multiple digital distribution systems.
Based in New York City, Constellation Ventures is the venture capital arm of
Bear Stearns Asset Management.
Broadview is a leading global financial services firm focused exclusively on
the IT, communications and media industries. Our network of nearly 300
employees and our affiliates operate across North America, Europe, Asia and
Australia, Broadview International provides clients with advice on merger
and acquisition transactions, restructuring and private financing. The firm
is also a private equity investor in these industries in the US and Europe.
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