NETSANITY WINS SECOND ROUND FUNDING FROM NOKIA VENTURES
Dec. 15, 1999 - NetSanity, Inc., creators of a new category of Internet software for the delivery, notification and management of web-based information, today announced a group of elite investors who have provided second round venture capital funding. Nokia Ventures has now joined RG Internet Investors, L.P. and Angel Investors, L.P. as equity investors in the growing Silicon Valley company. On December 13, 1999, NetSanity announced partnerships with Go2Net Network, Individual Investor Group, Inc. (Nasdaq: INDI), RedHerring.com, The Sporting News, and SpringStreet.com. To date, NetSanity has won support from over thirty leading Internet companies, each of whom will distribute NetSanity as its desktop solution. "NetSanity will revolutionize the way people manage information across Internet devices" said Peter Buhl, Partner, Nokia Ventures. "Through NetSanity, Internet sites will acquire new customers, increase site traffic and establish a direct relationship with their customers. We see great promise for this company." Mr. Buhl will also represent Nokia Ventures on NetSanity's Board of Directors.
About Nokia Ventures
Based in Menlo Park, Nokia Ventures L.P. is a US $150 million venture capital fund formed in 1998 to invest in early stage, high-growth companies in the areas of e-commerce, information technology and communications. Nokia Corporation has invested in the fund with the express intent to gain exposure to new markets, business models and technologies beyond the reach of Nokia's current business unit strategies. Nokia Ventures seeks partnerships with leading-edge companies attacking high-growth market opportunities that will benefit from the combined resources, experience and contacts of the Nokia Ventures team and from the association with a world-class brand. For more information, visit www.nokiaventures.com.
Simplifying Information Management
NetSanity offers end users an easier way to manage their personal information from numerous sources and to easily access their preferred Internet content, commerce, communities and tools. The company's first product is a small (300k) application that retrieves web content directly from disparate sites, presenting it in one location on the desktop - without delivering advertisements. Within hours, any Internet company can easily integrate with NetSanity's partner network to distribute its content and gain new users. The new software will be available for free download from the NetSanity web site or from any NetSanity partner.
About NetSanity
Co-founded in 1998 by Fred Clarke and Robert Blechman, NetSanity is a leading Internet and communications software company headquartered in Redwood City, California. For more information, visit www.netsanity.com.
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