Battery Ventures in Wellesley, MA said it invested $6 million in e-commerce company EC Cubed of Wilton, CT as part of a total financing round of $11.5 million.
Joining Battery are BancBoston Ventures, Walden Group of Funds and Crystal
Internet Ventures. Tom Crotty, general partner of Battery, will join the EC
Cubed board of directors.
Founded in 1996, EC Cubed is a provider of application components for the
business-to-business electronic commerce marketplace. Its cross-application
components are designed to allow organizations to build e-commerce
applications that extend a customers’ unique business processes outward to
their business partners.
Development partners and charter clients, including Gartner Group, TPN
Register and TransAmerica Leasing Corp.
“Our mission is to enhance our customers’ competitive advantage through e-
commerce component software that maintains their unique business processes,”
said Faisal Hoque, chairman and CEO of EC Cubed.
“It is clear that EC Cubed has superior e-commerce component technology,” said
Crotty. “With $11.5 million in financing, the company can now execute its
sales and marketing strategy and dominate the market.”
EC Cubed products include ecWorks, a series of application components that
serve as the cornerstone of business-to-business e-commerce solutions.
Battery Ventures is a national venture capital firm founded in 1983 specializing in investments in early emerging companies in the communications and software industries.