February 13, 2001 -- SAQQARA Systems closed its third round of funding this week to the tune of $29.8 million. This brings total capital invested in the San Jose-based company to $45.8 million. The Co-Investment 2000 Fund, managed by Cross Atlantic Capital Partners, and Dresdner Kleinwort Capital led the financing. Edgewater Funds, GE Capital, Liam Ventures and Vision Capital also joined the round.
Following the series C funding, the company plans to expand its global sales and marketing infrastructure as well as continue heavy investments in technology, according to a released statement.
Investors cited SAQQARA's experienced management team, solid technology, and a wide customer base, including 3M, Alcatel, Fairchild, GE Power Systems and The Stanley Works, as the reason for investing. SAQQARA's key industry partners, such as Ariba, Commerce One, Oracle and Vignette, also influenced investors.
The company's technology addresses the supplier's need to create brand and differentiate product content on the Internet through a product content transformation, management and exchange strategy.
SAQQARA's received $12 million in series B funding in February, 2000.