RealTime IT News

Valadeo Scores VC

[Montreal, QUEBEC] Innovatech Grand Montreal has agreed to invest US $3 million in Valadeo Technologies Corp., creator of the LiveSite platform, a Web content publishing solution for the global ISP/ Web hosting provider market. This investment by Innovatech completes a second successful round of funding and provides Valadeo with the capital needed to finance its rapid growth and expansion in the global market space.

Founded in 1996, Toronto-based Valadeo Technologies Corp. is the creator of LiveSite platform, an end-to-end solution designed to meet all the Web content publishing needs of the consumer and the multi-tiered hosting community, including ISPs, Web hosts and backbone providers.

LiveSite platform facilitates everyday people in the creation of highly customizable, media-rich sites supported by fully automated back-office functions. Valadeo is a premier partner for backbone providers, Internet service providers, Web hosting companies and content providers throughout the world.

Valadeo's LiveSite platform is the only end-to-end software solution that addresses the rising mass market opportunities in the ISP/Web hosting market and works to maximize the potential of these opportunities: completely brandable and customizable Web sites, dynamic media content, and automated publishing functions. The LiveSite platform meets these demands through its components - the completely brandable and customizable LiveSite Creator, offered in Windows and Web editions; LiveContent's rich, syndicated content; and LiveSite server's fully automated publishing functions. Combined, these elements make Web content creation robust, scalable and accessible to a mass audience.

The company is expanding rapidly to meet the growing opportunities ahead, as exhibited by the recent additions of an R&D centre within the territory covered by Innovatech du Grand Montreal.

Innovatech Grand Montreal is the venture-capital firm specialist in financing technological innovation, from start-up to full functionality. Innovatech sets itself apart by investing exclusively in technological innovation during start-up or technology transfer and focuses its efforts in particularly dynamic sectors: information and telecommunications technologies, health sciences and advanced industrial technologies.

Last month, Valadeo announced that it was joining forces with U.S. Internet provider, EarthLink, Inc. to offer an EarthLink-branded version of Valadeo's free Web site creation software, LiveSite Windows Edition, to millions of new Internet users through a mass-market distribution.

Valadeo's LiveSite Windows Edition will be distributed in partnership with EarthLink in two ways - in a LiveSite branded version wherein end users will have the option of choosing EarthLink as their Web hosting provider, and an EarthLink-branded version bundled with EarthLink Web hosting services.

Initial distribution of the EarthLink-branded version of LiveSite kicks-off with the January 2001 issue of PC World magazine, with more mass-market circulation to follow. LiveSite Windows Edition is part of the