IntellectMarket, a Santa Rosa firm developing a brokerage that marries
software capabilities and business needs, has raised $750,000 in seed funding,
according to a company announcement.
Much of the funding comes from members of IntellectMarket's board of
directors, which includes Tim O'Reilly, founder and CEO of O'Reilly &
Associates; Denny Van Ness of Hidden Hill Advisors; Jon Hopkins, chairman of
Blueprint Technologies and several members of the North Bay Angels, an
investment capital group based in Sonoma County.
Later this year, IntellectMarket plans to launch a business-to-business
e-commerce site that inventories, distributes and stores updates of programs
aimed at the business market.
``In the coming months we will be announcing significant partnerships that
endorse our position as an innovator in unleashing what some analysts believe
will be a $30 billion software components industry,'' said Chris Lamela,
IntellectMarket's CEO.
IntellectMarket was founded in September 1999 to service companies
searching for software solutions to their multiple business functions.
