Thursday, October 18, 2007

InfoNow Corp. Garners $6M in Series A Funding

Denver, Colorado-based InfoNow Corp., a publisher of channel sales and inventory data software-as-a-service, announced Thursday that it has concluded its first round of venture financing, raising $6 million. InfoNow said Sequel Venture Partners and Sevin Rosen Funds led the effort and, combined, now own approximately 40 percent of the Denver-based company. InfoNow noted that it plans to use the money to invest in product development and marketing and sales activities.Sevin Rosen Funds' Ram Velidi and Sequel Venture Partners' Tim Connor have joined InfoNow's board of directors as part of the funding. Sevin Rosen Funds is based in Dallas, Palo Alto, Calif., and Austin, Texas. Sequel Venture Partners is headquartered in Boulder, Colo. More information »