The investment, from Athenian Venture Partners, River Cities Capital Fund and ECNext’s angel investors, will be used for additional sales and marketing resources.
"We’re pleased to make this additional investment in ECNext," said Francois Helou, partner at Athenian Venture Partners. "It clearly supports one of our principal strategies of funding companies we feel will succeed in markets with significant growth potential."
"This commitment demonstrates our investors’ continuing confidence in ECNext’s business model and market position," said Chris Skudder, ECNext CEO. "We look forward to continuing to develop what is in many respects still an untapped market."
Skudder recently joined ECNext as CEO and is placing heavy focus on scaling the company’s sales and marketing resources and initiatives to take advantage of growing market opportunities.
About ECNext
Founded in 1996, ECNext is the leading partner for
business publishers and advisory firms who market,
sell and deliver premium information via the internet
to an increasingly diverse and demanding marketplace.
With ECNext technology and services, organizations offer and sell industry research reports, market intelligence, data, newsletters and advisory service information to fulfill clients' immediate needs and to build long-term relationships.
ECNext's market expertise enables these high-value information providers to win new clients by bringing buyers to their Web site, to increase revenue with repackaged products, and to cut transaction and support costs.
About Athenian
Athenian Venture Partners is a venture capital firm
headquartered in Ohio, with senior managers in Boston,
San Diego and London. The firm’s investment
focus is in the Information Technology/Communications
and Life Sciences industries. The firm’s five
senior managers bring over 90 years of combined
industry and investment experience in the firm’s
two areas of focus and provide significant industry-specific
value to Athenian’s companies. Athenian generally
invests in early stage opportunities and participates
in subsequent financing rounds until IPO or sale.
Founded in 1997, it is currently managing two venture
capital funds and has total capital under management
of over $70 million.
About River Cities
Founded in 1994, River Cities Capital Funds now
comprise three funds totaling $300 million. The
investment goal is to back exceptional management
teams in early to middle stage private growth companies.
The Funds focus on business services, information
technology and healthcare companies in the Midwest
and Southeast. Nine investment professionals work
out the main office in Cincinnati, Ohio and an office
in Raleigh, North Carolina.
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