firstRain attracts $8 M in Series B funding
Wednesday, 16 July 2003, 19:30 IST
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NEW YORK, NY: firstRain, Inc., a provider of business monitoring software and solutions, today announced that it has attracted $8 million of Series B funding. New investor Ampersand Ventures led the round, joining existing investors St Paul Ventures, Diamondhead Ventures and Myriad Investments. The company also announced the appointment of Marc Dulude and Charles Yie of Ampersand Ventures to the firstRain Board of Directors, with Dulude assuming the role of Chairman. firstRain will use the additional funds to continue its sales and marketing efforts, and to further develop its platform and solutions suite. Many of the world’s leading corporations deploy firstRain business monitoring, market intelligence, and portal publishing solutions. firstRain solutions accelerate the pace and quality of critical business decisions by providing users with fresh, relevant, high-quality information and events, while reducing the cost and difficulty of managing multiple data sources from both inside and outside of the corporate firewall. Based in New York City, FirstRain was founded in July 2000 by Gaurav Rewari, Chief Executive Officer and Jaswinder Pal Singh, Chief Technology Officer.
Source: IANS
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