RealTime IT News

Impresse Raises More Than $62 Million

Impresse Corp. Tuesday raised more than $62 million in equity and committed debt in third round financing that will be used to expand the company's operations and its marketing efforts.

Impress Corp.'s flagship solution impresse.com, is an Internet-based service that simplifies the print procurement process and brings print buyers closer together with their printers.

The new investors include leading Internet investment firms: Amerindo Investment Advisors (ATCHX), BancBoston Ventures, Comdisco Inc. (CDO), Gilbert Global Equity Partners, Hambrecht & Quist Ventures (HQ), JW Seligman & Co. Inc. (SJW), Palantir Capital L.P. and Van Wagoner Capital Management (VWEGX). Adobe Systems Inc. (ADBE), through its Adobe Ventures limited partnership, is also making a minority equity investment in Impresse.

The nine new investors join Internet venture capital giants Kleiner Perkins Caufield & Byers, Benchmark Capital, The Java Fund and Atlas Venture, who have increased their original financial commitment to Impresse. Besides assisting the company in sales and marketing activities, the proceeds will be used to expand network operations and future technology development.

"The endorsement from some of the smartest private equity investors in the Internet arena substantiates Impresse's position as the undisputed leader in B2B Internet services for print procurement, a very hot area of growth," said Bruce Dunlevie, general partner of Benchmark Capital. "Impresse clearly differentiates from its competitors with its seasoned management, deep technology base, strong domain expertise and some of the best and brightest employees in Silicon Valley."