RealTime IT News

SiteScape Snags $5M

SiteScape, a Maynard, Mass., provider of business-to-business collaboration software and services, has raised $5 million in second-round financing for sales and marketing initiatives.

Echelon Ventures was lead backer. SAIC Venture Capital Corporation (SAIC VCC), the investment arm of systems integrator Science Applications International Corporation (SAIC), also participated.

In addition, the companies struck a deal allowing SAIC to sell SiteScape's products.

"This infusion of capital increases the valuation of the company, and enhances our position in the marketplace," said Timothy P. Butler, SiteScape's president and CEO.

San Diego-based SAIC has been working with SiteScape informally for two years. Joint projects include a supply chain collaboration system for Halliburton Energy Services, a U.S. Navy project, and a National Science Foundation-funded nano-technology portal project.

"We think the ability to collaborate is of critical importance to our customers, and we are always looking for opportunities to offer them with innovative and powerful tools to meet their technology requirements," said Brian Hays, an SAIC vice president.

SiteScape was founded in 1995 and is privately held. Its collaboration software allows users to create, share, and exchange information with colleagues, customers and business partners in a secure, Web-based environment.