RealTime IT News

fourthchannel Receives $20 Million in Funding

E-business ASP fourthchannel, inc. this morning announced it closed a $20 million second round of financing from investors in support of its e-business solutions for mid-market manufacturing and distribution companies.

The financing round was led by Chicago, Ill.-based global investment management organization Brinson Partners. Additional financing partners included ABS Ventures, ABN AMRO Equity Partners, CID Equity Partners, River Cities Capital Fund (HSAC)and Primedia Ventures (PRM).

The company feels this investment will enable fourthchannel, inc. to continue its strategy of providing mid-market manufacturers and distributors with effective e-business selling solutions.

"With the enterprise sector targeting mid-market suppliers for 80 percent of its products and services, we recognize the need to connect our clients to these new and larger markets, while still protecting brand, price points and margins," Jonathan York, chief executive officer, fourthchannel, said.

Overall, the company sees its role as a provider of solutions that build reliable, sustainable and mutually dependent trading partnerships between buyers and sellers.