||Electrifier, Inc., the maker of multimedia content environment Electrifier Pro, has announced they have raised US$1.5 million in a new round of financing. The company also announced it had attracted some big names to back the company. This will probably come in handy as the company continues to look for another US$4 million in additional financing. According to Electrifier:
Electrifier, Inc., the leading provider of Internet rich media solutions, today announced it has raised approximately $1.5 million to date, including sizable investments from a number of the most prominent individual investors in the Southeast.
Selected to present at Venture '99, the premier venture conference in the region, Electrifier plans to raise up to $4 million more in 1999 to expand its offering of cutting-edge, rich media solutions for businesses.
Electrifier's latest backers have significant ties to telecommunications companies, television and cable networks, financial institutions, and e-commerce sites -- businesses with critical needs for the company's rich media solutions. Current investors include:
- Gene Gabbard, former Executive Vice President and Chief Financial Officer of MCI, Chairman of the Board and Chief Executive Officer of Telecom
- USA, Director of MindSpring Enterprises, Inc. and PowerTel, Inc., and Managing Director of South Atlantic Private Equity Fund IV;
- Robert Genieser, Vice President of Investments at Hambrecht & Quist;
- Daniel Egger, Managing Member, Eno River Capital, and Former CEO of Site Technologies;
- Anthony Harrington, Senior Partner at Hogan & Hartson, Co-Founder of Telecom*USA, and Co-Founder and Director of Ovation Television;
- Marc Kaschke, retail entrepreneur and investor in Chemdex and WeddingChannel.com;
- Sig Mosley, President and John P. Imlay, Chairman of Imlay Investments, former Chairman of Dun & Bradstreet Software, and Director of the Gartner Group; and,
- Tristate Investment Group III.
Good luck to Electrifier!
The Mac Observer Spin: We have talked about this before, but Electrifier's success warrants emphasizing it again. Mac developers able to attract financing is one of the most important signs that the Mac market is a healthy one. In fact, it may be the most important sign.
This is especially true of a company like Electrifier which is a relatively young company. Their premier product, Electrifier Pro, was first released in December of 1998, 5 months ago. The company itself first opened their doors in 1995. Despite this, the company has been able to attract significant funding and an impressive portfolio of backers.
12 months ago it was exceedingly difficult for a company whose primary market was Mac users. These times they are a changin'.