IRVING, Texas, July 18, 2001 (PRIMEZONE) -- bTrade, Inc., the leading provider of Transaction Delivery Network (TDN) solutions, today announced that it has secured $11.2 million in a third round of financing led by Hunt Capital Group and joined by existing investors First Analysis Venture Capital and Shawmut Capital Partners.
"Hunt Capital is pleased to have led bTrade's third round of financing," said Scott H. Colvert, a partner with Hunt Capital Group. "bTrade's TDNgine(tm) and TDAccess(tm) are the leading solutions in the TDN market. These solutions enable complex business communities to reliably move high volumes of mission-critical data securely over any IP-based network, including the Internet. Furthermore, bTrade has a proven track record of rapidly deploying TDN solutions within the ranks of the Fortune 500. As a result, we believe that bTrade is extremely well positioned to lead the rapidly developing Transaction Delivery Network infrastructure market," concluded Colvert.
"We are extremely excited about the vote of confidence this funding represents and the opportunities it will enable us to capture," said David M. Lonsdale, bTrade, Inc. Chairman, CEO and President. "We intend to solidify our position as the key provider of TDN solutions that deliver the security, reliability and scalability necessary to support the full range of intra- or inter-enterprise communications over any private or public network. Our investors recognize the power of our technology and this funding clearly demonstrates their commitment to bTrade as a company that is built to last with strong customer relationships and growing market adoption."
Since June 1999, bTrade, Inc. has raised a total of $26.9 million in venture capital and has more than tripled in revenues, adding such "flagship" accounts as QRS, American Honda Financial Services and NCS Pearson to its already prestigious list of Fortune 500 customers. In addition, bTrade has recently gained industry-wide recognition, having been named among UPSIDE Magazine's 2001 HOT 100 list of private companies and as a COMPUTERWORLD Emerging 100 Company.
About Hunt Capital Group
Hunt Capital Group (www.huntcapital.com) is a private investment firm providing equity capital for growth companies, industry consolidations and change of ownership transactions throughout the United States. Hunt Capital Group is headquartered in Dallas, Texas, with offices in Austin and New York. Hunt Capital Group's affiliation with the Lamar Hunt family brings to its partners the resources and relationships of more than 60 Hunt enterprises and 45 years of investment experience.
About First Analysis Venture Capital
First Analysis Venture Capital (www.firstanalysisvc.com) is one of the largest early-stage venture capital firms in the United States. With more than $500 million in capital under management, First Analysis has funded more than 150 successful companies, providing the infrastructure for an enhanced business-to-business marketplace. First Analysis Venture Capital plays an active role in developing and scaling early-stage companies by providing entrepreneurs and management teams with assistance in corporate development and strategy, business development and alliances, as well as financing events. First Analysis has played a key role in developing several billion-dollar companies.
About Shawmut Capital
Shawmut Capital Partners, Inc. (www.shawmutcapital.com) is a venture capital firm based in Boston that manages $108 million in committed capital. The firm focuses on investments in the financial services and transaction processing sectors, and invests in well managed, growth-oriented, privately held companies or divisions of public corporations. Shawmut looks to invest $3-12 million of equity in each transaction, and takes both minority and majority ownership positions. In addition to bTrade, Inc., Shawmut's investments include Quote.com, CBS Employer Services, Politzer & Haney, APPRO Systems, and Poorman-Douglas.
About bTrade, Inc.
bTrade, Inc. (www.bTrade.com), Irving, Texas, is the leading provider of Transaction Delivery Network solutions essential to establishing secure, reliable, robust and scalable e-Business networks. Using its more than 10 years of experience and proven suite of products, bTrade provides Private and Public Trading Exchanges as well as Peer-to-Peer Communities with the means to ensure 100% community participation, activate members instantly and move large volumes of mission critical data between community members via the Internet as well as legacy and private networks.
bTrade serves a Global2000 customer base of more than 125,000 trading partners. The company's growing list of valued customers and business partners include such industry leaders as American Honda Finance Corporation, QRS, Viewlocity, CitiGroup, NCS Pearson and Federal Express.
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CONTACT: bTrade, Inc., Irving
Cathy Bailey, Executive Assistant
cbailey@btrade.com
(972) 580-2914