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Semiconductor industry

iMediation Secures $25 Million in Financing for Rapid Growth

Strategic Insights

— 2 min read

iMediation, a global provider of software and services for managing Internet selling relationships, has closed a $25 million round of financing led by GE Equity, with participation from Intel, Morgan Stanley Dean Witter, Reuters, Royal Philips Electronics, and Europ@Web. This significant milestone marks a crucial juncture in the company's development, enabling it to fuel growth and capitalize on the vast global opportunities in its rapidly expanding market.

Key Takeaways:

  • The funding round, led by GE Equity, totals $25 million and includes participation from leading investors such as Intel, Morgan Stanley Dean Witter, Reuters, Royal Philips Electronics, and Europ@Web.
  • iMediation's flagship product, iChannel, enables merchants to automate large-scale affiliate networks, placing higher demands on Intel-based servers for commercial transactions on the Web.
  • The company plans to expand its direct presence in new regions, including Asia/Pacific, North America, Northern and Southern Europe, with a focus on speed-product development and worldwide sales, marketing, and professional services infrastructure.
  • iMediation has dual headquarters in Palo Alto, CA, and Paris, France, with offices in Boston, London, Munich, and New York, and has received investment from a range of global venture investors, including Apax Partners, GE Equity, Innovacom, Intel, Morgan Stanley Dean Witter, Reuters, Royal Philips Electronics, Viventures, and Europ@Web.
  • The company aims to develop innovative solutions to meet market demands, rapidly build a strong presence in the US and internationally, and create a solid business structure with an experienced management team.
  • GE Equity's Managing Director Sherwood Dodge noted that the investment represents a perfect example of high-growth companies backed by Apax Partners, with a strong confidence in the management team.
  • iMediation's iChannel product has been recognized for its effectiveness in managing selling networks for e-commerce sites, with GE Equity and Viventures confirming the company's growth prospects.

Statistics:

  • iMediation has secured $25 million in funding for rapid growth and expansion.
  • The company plans to expand its direct presence in 5 new regions by the end of 2000.
  • iMediation has received investment from 11 global venture investors.
  • The company has dual headquarters in Palo Alto, CA, and Paris, France, and offices in 5 locations worldwide.
  • Philips Electronics' Chief Strategic Officer Jan Oosterveld noted that the Internet will play an increasingly important role in consumer lives as a means of information, entertainment, and purchasing mechanism.
  • iMediation's flagship product, iChannel, enables merchants to automate large-scale affiliate networks.

Sources:

  • "iMediation Secures $25 Million in Financing for Rapid Growth" (PRNewswire, Jan. 12)
  • iMediation website (www.imediation.com)
  • GE Equity website (www.geequity.com)
  • Royal Philips Electronics website (www.news.philips.com)
  • Europ@Web website (www.europweb.com)
  • Reuters website (www.reuters.com)
  • Apax Partners website (www.apax-partners.fr)
  • Viventures website (www.viventures.com)
  • Intel website (www.intel.com)

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