The company is a survivor of the dotcom downturn and in spite of massive investment
in the past, has been recapitalized with the support of most of the exiting investors.
It developed (ASP) software to provide automated organization of meetings, including
travel, lodging, etc. The company has an impressive list of fortune 500 customers
with significant recurring revenue and plans to achieve break-even next quarter.
Amos
Barzilay, a partner at Walden International will be leading the round and
will take an active position on the board.