Cyberian Outpost Gets $22 Million Private Placement
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Internet computer retailer Cyberian Outpost Inc. said it closed a $22 million second-round financing of private equity capital.
The investment was led by Primus Venture Partners and Brand Equity Ventures, and included T. Rowe Price's Threshold Fund, Winfield Capital Corp. and Connecticut Innovations Inc. BT Alex. Brown acted as the placement agent.
The company said it will use the funds "to solidify its leadership position in Internet retailing." Cyberian Outpost will expand its multiple marketing channels and brand building programs and invest in new technology, executives said.
"This investment is an endorsement of our position as a leader in computer Internet retailing," said Darryl Peck, president and CEO of Cyberian Outpost. "Three years ago we were a $28,000 startup. Today we have the capital to go head-to-head with the world's largest computer retailers."