Searchbutton.com Secures $7 Million in Funding for Expansion

Strategic Insights -

Searchbutton.com, a leading Application Service Provider (ASP) for hosted site search and activity reporting, announced that it has closed a $7 million Series B Preferred stock financing in February 2000. This significant investment was joined by key individual investors, Angel Investors L.P., and the Band of Angels Fund, L.P., as well as Series A investors Asset Management Company, Intel Capital, and internet.com Venture Fund II.

The funding will be used to strengthen Searchbutton's sales, marketing, customer support, and professional services, enabling the company to expand its offerings as the leading provider of hosted site search and reporting services. In conjunction with the Series B Preferred Stock Financing, Searchbutton has formed business relationships with Intel and internet.com. Searchbutton's service will be one of the preferred solutions highlighted within Intel's e-Business Center at www.intel.com. Additionally, Searchbutton has entered into multi-year advertising and e-commerce agreements with internet.com, including exposure across their network of over 100 Web sites and related Internet media properties.

Key Takeaways:

  • Searchbutton.com, an ASP for hosted site search and activity reporting, raised $7 million in Series B Preferred stock financing in February 2000.
  • The company plans to use the funds to strengthen its sales, marketing, customer support, and professional services.
  • Searchbutton has formed business relationships with Intel and internet.com, with its service being highlighted in Intel's e-Business Center at www.intel.com.
  • Searchbutton has entered into multi-year advertising and e-commerce agreements with internet.com, providing exposure to over 100 Web sites and related Internet media properties.
  • The leadership of the new members of the advisory board and board of directors, including Ben Dubin, Ian Sobieski, and Bob Bozeman, has added expertise to Searchbutton's management team.
  • Searchbutton has strategic relationships with Hewlett Packard, SmartAge, Washingtonpost.com, WebTrends, NaviSite, and others.

Statistics:

  • $7 million: Amount of Series B Preferred stock financing raised by Searchbutton.com in February 2000.
  • 100: Number of Web sites and related Internet media properties that will be exposed through Searchbutton's multi-year advertising and e-commerce agreements with internet.com.
  • 2000: Year in which Searchbutton.com closed its Series B Preferred stock financing.

Sources:

  • "Searchbutton.com Closes $7 Million Series B Round." Business Wire, 7 Mar. 2000.
  • Searchbutton.com. About Searchbutton.com.