Deliverex today announced it has completed its Series B financing of over $10 million. The investment round was led by the BRM Group, which was joined by Goldman Sachs, Intel Capital, and a number of prominent Internet CEOs. Deliverex(TM)the Internet Priority Content Delivery Service, recently debuted at Demo 2000. Deliverex's outsourced e-service enables businesses and consumer e-mail users to exchange "priority content"--priority messages, documents, and large content files, such as music, video, and photography-- that is personalized, permission-based, trackable, signable and secure.
Along with Goldman Sachs, Intel Capital was part of the second round of financing for Deliverex, which will use the investment to help fund technology development of the Internet courier service, to be introduced in Q4 2000. Deliverex received an initial financing round from the BRM Group, the largest venture fund focused on Israeli Internet infrastructure start-up companies. BRM was the first investor in Check Point Software Technologies Ltd., which currently has the largest market cap of any company in Israel. BRM has also invested in BackWeb(R) Technologies, with headquarters in San Jose, Calif. and Ramat Gan, Israel. Deliverex will be using BackWeb technology to address the burgeoning market for delivery of rich content.
"We recognized the market growth opportunities addressed by Deliverex as an outsourced peer-to-peer e-service to deliver large-sized content such as video, digital photography and music, in addition to securely delivering contracts, statements, and priority documents for small business and business individual users," said Eli Barkat, chairman and CEO of BackWeb.
"Along with our permission-based rules and tracking that automate prioritization by recipients of their most important digital packages, we will leverage BackWeb'Polite(TM)push technology to distribute timely, rich content without worrying about inconsistent bandwidth,"said Brian Smiga, president and CEO of Deliverex, who recently joined the company from 1ClickCharge, a CMGI company.
"As an ASP, the Deliverex Priority Content Exchange provides core value for many of the companies we invest in, where the secure exchange of rich content will become the norm, not the exception," said Goldman Sachs Managing Director of Principle Investments, Joe Gleberman. "Goldman Sachs has extended its influence beyond the investment banking market to invest in Internet service companies that are leveraging new media and are building towards initial public offerings."
Published by Israel's Business Arena on March 14, 2000.