The investment was at a company value of $12 million.
Investment firm Argoquest has invested $400,000 in Israeli start-up Friendly Technologies, which develops software infrastructure for online customer care and systems for Internet providers. The investment was at a company value of $12 million.
Friendly Technologies was founded in 1997. The company employs 25 staff in its Israeli and US offices. In its previous financing round at the beginning of 2000, the company raised $2 million from the Vectory venture capital fund, owned by Motti Zisser. The company’s value after that round was estimated at $5 million.
The company predicted it will finish 2000, its first year for overseas sales, with over $3 million in orders and will begin to show a profit in 2002.
Published by Israel's Business Arena on December 25, 2000