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Hubspan Secures $13 Million in Venture
Capital Financing
Financing to fuel market expansion
and sales and marketing activities
Seattle, Washington -- October 14th, 2005
Hubspan, Inc., a leading provider of managed services for
cost-effective, scalable business-to-business integration,
today announced that it has closed a $13 million round of
funding. BA Venture Partners led the financing round with
additional support from SeaPoint Ventures, Intel Venture Capital,
and Hunt Ventures. The funds are earmarked for the company's
expansion into international markets, as well as key sales
and marketing initiatives. Additionally, Rory O'Driscoll,
managing director at BA Venture Partners, will join the company's
board of directors.
"BA Venture Partners believes that Hubspan leads the emerging
category of on-demand enterprise integration by providing
a service that is more flexible than legacy electronic data
integration (EDI) and cheaper than licensed software based
offerings," said Rory O'Driscoll, managing director at BA
Venture Partners.
The company's Hubspan Business Network (HBN) is an Internet-based
network built to enable real-time transactions between trading
partners. Currently, the HBN network is utilized by many of
the leading Global 1,000 enterprises to securely manage millions
of transactions monthly with more than 5,000 trading partners
across 22 countries.
About Hubspan
Hubspan, Inc. provides managed services for cost-effective,
scalable business-to-business integration through the Hubspan
Business Network. Combining wide-ranging interoperability
with maximum security and world-class reliability, Hubspan
enables companies around the world to conduct mission-critical
transactions with their partners without having to change
technology or business processes. Headquartered in Seattle,
Washington, Hubspan is trusted to deliver by industry-leading
customers including The Boeing Company, Graybar, and Tradeplace.
Additional information can be found at www.hubspan.com.
About BA Venture Partners
BA Venture Partners (BAVP) provides capital and expertise
to accelerate market traction for technology and healthcare
companies. Based in Foster City, California, the BAVP team
collectively offers decades of technology and venture industry
experience to development-stage companies in hardware, software,
biotechnology and medical devices. Representative portfolio
companies include Alimera, Biz360, Frontbridge Technologies,
Glu Mobile, Good Technology, Monolithic Power Systems, Placeware,
Seattle Genetics, and Wayport. Bank of America is BAVP's sole
limited partner. For more information, visit www.baventurepartners.com.

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