ON24 Gets $8M+ Investment for Virtual Events
Virtual events company ON24 announced today that it has received more than $8 million, bringing its total capital to over $46 million, in an equity capital round led U.S. Venture Partners, Canaan Partners, and Rho Ventures as well as an expansion capital round led by Gold Hill Capital. The plan is to use the money to promote global expansion and development of its webcasting services as well as its recently launched, integrated virtual worlds solution, Virtual Show.
"Our increased investment in ON24 demonstrates our confidence that they will continue to demonstrate their industry leadership with innovative solutions, high customer satisfaction, and robust sales momentum," said Deepak Kamra, general partner, Canaan Partners. "And with the introduction of their Virtual Show solution, ON24 is positioned well to be the dominant player in the online events space."
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“I am incredibly proud of what the company has accomplished, creating the virtual events market and setting its leadership position within it,” stated Guy Piekarz, founder and former CEO of Unisfair. “I am excited about Unisfair's prospects for the future. We have a strong, passionate team to continue executing on the vision and Hoang has the operating experience to take the company to the next level.”
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Posted by: nick0011 | May 19, 2009 at 10:44 AM