Logistics outsourcer and Internet transaction operations network Electron Economy secured $70
million in a second round of funding led by Softbank Capital Partners.
Other investors included Softbank Venture Capital, Chase Capital Partners,
Flatiron Partners and Crosspoint Venture Partners.
In January the company launched Internet TONE, its Internet Transaction
Operations Network, and its first service, E-Commerce Operations Management,
which together form an open and extensible solution for managing e-business
operations.
Electron Economy said it would use the funds to accelerate implementation of
the service and to launch an Electron Economy developer program as well as
international operations.
“As more companies leverage the Internet to streamline communications within
the
supply chain and to the customer, Electron Economy is positioned to
revolutionize the industry with its vision of building an open exchange that
connects suppliers and customers,” said Masayoshi Son, president and chief executive officer of
Softbank Corp. oration.
“We believe that the company has the right vision,
management and technology to realize its exceptional potential for market
leadership.”
Electron Economy’s technology platform is an open and extensible Internet
commerce network that links producers, manufacturers, distributors, logistics
companies and customer support providers.
Partner companies include ATG,
Avicon, Aztec Software, BEA Systems Inc., Corporate Express Delivery Systems,
CyberSource, Exodus, PeopleSupport, SubmitOrder.com, TeleQuest, USF
eLogistics and USCO Corp. The network has already been connected to Federal
Express, United Parcel Service, and the United States Postal Service.
Electron Economy’s first service offering integrates a company’s online
storefront with all back-end logistics processes, including financial
settlement, warehousing, delivery,
customer interaction and business reporting. Clients include Basement.com,
Egghead.com, HardCloud and style365.com.
