RealTime IT News

Virtualis Gets $8.75M in Venture Funding

Virtualis Inc., a provider of proprietary Web-based software tools and technical consulting, has received $8.75 million in venture funding.

Investors include Knight Ridder Ventures, Adobe Ventures, H&Q Venture Associates, AmBex Venture Group, Ignitio Partners, Group One and Garage.com.

Virtualis said it aims to help even the least Web-savvy small business owner enter the world of e-commerce in a day, for about a dollar a day. "The Internet is changing every business," said Bob Ingle, president of Knight Ridder Ventures. "Small businesses are trying to figure out what to do, and Virtualis has an outstanding suite of tools to help businesses get on the Web and sell products. And Knight Ridder has ways for those businesses to advertise, both in print and on our 45 Web sites in the Real Cities network."

"Virtualis has everything a small business needs to put its business online," said Chris Lyman, co-founder and CEO of Virtualis. "We are the first real-world example of an application service provider (ASP) for small business."

Virtualis, which projects $5 million in 1999 revenues, said it will use the funds in part for marketing and advertising aimed at spurring growth. The company said it has 37,000 affiliates in more than 100 countries, including Web designers, system integrators, computer consultants and Web experts.