Asera secures $47.4m in funding
Asera, a provider of business-to-business e-commerce solutions that enable companies to improve channel effectiveness, sales volume and customer loyalty, has completed its Series B funding of $47.4 million.
Cisco Systems, GE Capital Equity Investments, and Intel Corporation participated in a Bowman Capital Management-led funding round along with other investors that include Itochu Corporation/Itochu Technology, Integral Capital Partners, Kleiner Perkins Caufield & Byers and Presidio/Sumitomo Corporation.
With this funding, Asera plans to rapidly scale its business and meet the needs of the enterprise e-business solutions market. Asera`s growth initiatives include extending offerings to serve the needs of the fast growing Internet marketplace segment, and expanding its business internationally.
"We are delighted to have received this funding from venture capital and leading hi-tech companies alike," says Asera CEO Warren Weiss. "Asera`s vision is to help increase the speed and effectiveness of our customers` channels, allowing them to dramatically change the way they do business.
"We realised early on that Asera needs to grow rapidly and sustain its momentum to gain a leadership position in the sell side e-business solutions market. The Series B funding will help Asera to execute according to that vision.
"Use of the Internet has become essential to improved customer satisfaction and business productivity," says Michael Darby, Cisco`s director of business development.
"Cisco provides the communications infrastructure, and through our partnerships and investments, supports solutions that will help customers rapidly gain maximum value from the Internet. Asera is a leader in the high-growth business-to-business e-commerce market with a unique architecture and applications that will enable enterprises to run their businesses over the Internet.
"Intel is working to accelerate the development and deployment of e-business services and solutions such as the Asera eService, that could help enable companies to more effectively compete in today`s Internet economy," says Mike Aymar, president of Intel Online Services.
"GE Equity is always on the lookout for companies with breakthrough ideas and technology - coupled with a solid business model. This is what led us to Asera," says GE Equity MD Steve Smith.
"We think Asera has the potential to change the way companies use the Internet. Our partnership keeps us in step with the leading edge technology and vision we need to remain in front. Our investment is a natural extension of this partnership."