Hubspan, Inc., a leading provider of managed services for cost-effective, scalable business-to-business integration, today announced that it has closed a $13 million round of funding. BA Venture Partners led the financing round with additional support from SeaPoint Ventures, Intel Capital, and Hunt Ventures. The funds are earmarked for the company’s expansion into international markets, as well as key sales and marketing initiatives. Additionally, Rory O’Driscoll, managing director at BA Venture Partners, will join the company’s board of directors.
Hubspan, Inc., a leading provider of managed services for cost-effective, scalable business-to-business integration, today announced that it has closed a $13 million round of funding. BA Venture Partners led the financing round with additional support from SeaPoint Ventures, Intel Capital, and Hunt Ventures. The funds are earmarked for the company’s expansion into international markets, as well as key sales and marketing initiatives. Additionally, Rory O’Driscoll, managing director at BA Venture Partners, will join the company’s board of directors.
“BA Venture Partners believes that Hubspan leads the emerging category of on-demand enterprise integration by providing a service that is more flexible than legacy electronic data integration (EDI) and cheaper than licensed software based offerings,” said Rory O’Driscoll, managing director at BA Venture Partners.
The company’s Hubspan Business Network (HBN) is an Internet-based network built to enable real-time transactions between trading partners. Currently, the HBN network is utilized by many of the leading Global 1,000 enterprises to securely manage millions of transactions monthly with more than 5,000 trading partners across 22 countries.
About Hubspan
Hubspan, Inc. provides managed services for cost-effective, scalable business-to-business integration through the Hubspan Business Network. Combining wide-ranging interoperability with optimal security and world-class reliability, Hubspan enables companies around the world to conduct mission-critical transactions with their partners without having to change technology or business processes. Headquartered in Seattle, Washington, Hubspan is trusted to deliver by industry-leading customers including The Boeing Company, Graybar, and Tradeplace. Additional information can be found at www.hubspan.com.
About BA Venture Partners
BA Venture Partners (BAVP) provides capital and expertise to accelerate market traction for technology and healthcare companies. Based in Foster City, California, the BAVP team collectively offers decades of technology and venture industry experience to development-stage companies in hardware, software, biotechnology and medical devices. Representative portfolio companies include Alimera, Biz360, Frontbridge Technologies, Glu Mobile, Good Technology, Monolithic Power Systems, Placeware, Seattle Genetics, and Wayport. Bank of America is BAVP's sole limited partner. For more information, visit www.baventurepartners.com.
About Intel Capital
Intel Capital, Intel’s venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel’s strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. Last year alone, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States. For more information, visit www.Intel.com/capital.
Contacts:
For BA Venture Partners
Carol Sacks
Tenor Communications
(415) 738-2273
For Hubspan, Inc.
Shannon J. Yost
Hubspan, Inc.
(206) 838-5400
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