Israeli start-up Unicorn Solutions today announced it had completed its first financing round of over $6 million. The company develops information integration applications. The company raised $3 million in March, and obtained a $3 million bridging loan, which it has converted into an investment in its shares.
Jerusalem Global Ventures led the round. Other investors were Israel Seed Limited Partners, Apropos IT Ventures Fund, IS-Tecc of Britain, and private investors.
Unicorn Solutions was founded in January 2001 by CEO Dr. Zvi Schreiber and VP R&D Rannen Meir to develop software that would coordinate and exchange data between an organization's different applications. The company has 20 employees in its Jerusalem office.
Jerusalem Global Ventures founding partner Shlomo Kalish said that Unicorn Solutions can solve the problem of integrating date from different platforms – an annual $15 billion market. Jerusalem Global Ventures managing partner Yoni Hashkes will join Unicorn Solutions' board of directors.
Schreiber founded and ran Tradeum, which developed a B2B platform, and was sold to VerticalNet (Nasdaq: VERT) of the US in March 2000 for $474 million in shares. At the time, VerticalNet was trading at $150 a share, but has since tumbled to $0.40.
Published by Israel's Business Arena on 3 October 2001