Netfish Technologies Secures $30 Million in Equity Financing Led by Bain Capital

Strategic Insights -

Netfish Technologies, a leader in XML-based business-to-business e-commerce solutions, has announced the completion of a $30 million mezzanine round of equity financing with a group of investors led by Bain Capital. Oracle Corporation and Whitney & Co. also joined the investment, with Oracle becoming a new investor and Whitney adding to their existing stake. The funding will be used to accelerate sales and marketing activities for Netfish's new business unit created to deliver the Netfish XDI eProcess platform and the company's flagship Netfish XDI System.

Key Takeaways:

  • Netfish Technologies has completed a $30 million mezzanine round of equity financing with a group of investors led by Bain Capital, Oracle Corporation, and Whitney & Co.
  • The funding will be used as working capital to accelerate sales and marketing activities for Netfish's new business unit created to deliver the Netfish XDI eProcess platform and the company's flagship Netfish XDI System.
  • Netfish's XDI eProcess platform is a unique set of business tools and services that make it easy for portal operators to implement and administer advanced B2B services, such as unifying incompatible ERP, EAI, and EDI systems.
  • The platform facilitates any-to-any electronic business document exchange, ensures end-to-end transaction security over the Internet, and automates and manages the work flows for complex B2B transactions.
  • Netfish XDI eProcess platform has the potential to transform B2B e-commerce marketplaces into next-generation process hubs, making it possible for portal operators to unify their enterprise customers' incompatible systems.
  • The Gartner Group estimates that the B2B e-commerce market will top $7 trillion by 2004, with 53 percent of these transactions occurring through process hubs like those made possible by the Netfish XDI eProcess Platform.

Statistics:

  • $30 million: The amount of equity financing completed by Netfish Technologies with a group of investors led by Bain Capital.
  • $7 trillion: The estimated value of the B2B e-commerce market by 2004, according to the Gartner Group.
  • 53 percent: The percentage of B2B e-commerce transactions that will occur through process hubs like those made possible by the Netfish XDI eProcess Platform by 2004, according to Forrester Research.
  • 150: The number of companies invested in by Bain Capital since its founding in 1984.
  • $6 billion: The amount of capital managed by Bain Capital.
  • $5 billion: The amount of capital managed by Whitney & Co.
  • 1946: The year Whitney & Co. was founded.

Sources:

  • Netfish Technologies press release, April 24, 1999.
  • Bain Capital, Inc. website, http://www.bain.com.
  • Whitney & Co. website, http://www.whitneyco.com.
  • Gartner Group, "B2B e-commerce Market to Top $7 Trillion by 2004."
  • Forrester Research, "Process Hubs: The Future of B2B e-commerce."