ADX - Advanced Data Exchange - News -> Press Releases
Summary
[ADX, formerly] The EC Company Closes $17.3 Million in Series B Round of Financing Palo Alto, CA - January 19, 2000 - [ADX, formerly] The EC Company, which offers a hosted business to business Internet transaction exchange, today announced that it has completed a $17.3 million round of Series B financing. [ADX, formerly] The EC Company will use this equity financing to continue building its sales and marketing initiatives, develop its next generation of products and services, and support the companys growth in the booming business to business e-commerce market. "Support from all of our existing investors and participation by Acacia Research Corporation is a powerful endorsement of our technology, vision, and market opportunity," said Andrew T. Duncan, president and CEO of [ADX, formerly] The EC Company. Acacia Research offers the added strength of being a seasoned investor with deep industry ties in the business to business market, which will help [ADX, formerly] The EC Company rapidly expand into managing eTransactions for digital marketplaces." The combined offering is a hosted Internet-based electronic transaction exchange that manages and translates data standards seamlessly and effortlessly at a fraction of the cost of non-Internet based solutions.