Fullscope Inc. today (Nov 21) announced that it has received $10 million in financing led by venture capitalists Massey Burch Capital Corp. and River Cities Capital Funds, enabling the business solutions provider to leverage its aggressive 2001 growth efforts focusing on vertical marketing strategies, new product introductions and business organization.
“These industry leaders lend strength, depth and a sound value proposition to our efforts as an aggressive aggregator of application service providers,” said Don Springer, president and chief operating officer of Fullscope. Current investors Wakefield Group, EDF Ventures, Operon Partners, Scient and Northcoast also participated in the Preferred B round funding.
Headquartered in Ann Arbor, Michigan and employing 20 staff members, Fullscope Inc. utilizes an XML-enterprise platform that supports collaborative and communications applications and services. Fullscope was founded to provide customers with a single source for integrated applications, content and eCommerce services. The backbone of Fullscope’s offering is a Service Delivery Architecture (SDA) that integrates diverse online services into a single interface.
“Fullscope executives presented us with a compelling opportunity to participate in the success of this promising company,” said William F. Earthman, III, general partner with Massey Burch. “Fullscope clearly has in place a strong management team, sound intellectual property and strategic partnerships to support its position as an industry innovator for the integration and aggregation of best-of-class applications and services.”
“Fullscope provides a strong clarity to the `flea market’ of ASP aggregators and fully understands the future and direction of ASP integration,” said Carter McNabb, associate with River Cities. “As a result, we are confident in the company’s ability to emerge as a major contributor to this industry.”