InStranet valuation soars in Series C round.

Publication: The Daily Deal

Publication Date: 29-JUN-01

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COPYRIGHT 2001 The Deal LLC

Byline: Lou Whiteman

After two years spent building its product and marketing it overseas, a New York-based software company has raised $14.7 million to turn its attention toward winning customers at home.

InStranet Inc. raised the funding in a Series C round that valued it at $50 million, an increase of about 40% over its $35.3 million pre-money valuation. New investors Benchmark Capital and private shareholder Donald L. Lucas, the former chairman and a current director of Oracle Corp., led the new round.

Existing shareholders Business Objects SA,...

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