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Olive Software, Inc. and Sequoia Venture Capital Close Expansion Funding Deal
Olive Software, Inc., a global leader in content management, ePublishing and archiving technologies for the publishing and library industries, announced today that it had secured a US$6 million investment partnership with Sequoia Venture Capital. Milestone International, LLC acted as advisor to the company in this round.
Founded in 1999 and profitable since 2002, the company has acquired expansion funding to capitalize on very active and growing markets. The investment further strengthens the company and will serve as a springboard to the next levels of sales, marketing and product development.
Already a world leader in electronic publishing, the company now has the resources to further its market advances of the last three years with its ActivePaper and ActiveMagazine product suites.
"The technology and large business opportunity will enable us to build together a large and successful company," said Shmil Levy, a Partner with Sequoia Capital.
"While profitable for 2 years, the current investment round provides Olive with a greater degree of strength and stability, a solid financial platform for planned growth and expansion, and the potential to leverage strategic relationships within the Sequoia portfolio of companies," said Yoni Stern president and CEO.
About Sequoia Capital:
Founded in 1972 Sequoia Capital is one of the leading venture capital firms. In the last three decades Sequoia has funded hundreds of companies, including: Apple, 3COM, Cisco, LSI, Yahoo, Google and Flextronics. Sequoia Capital targets its investments in early stage companies in the areas of Components, Systems, Software and Services. Sequoia Capital offices are located in Menlo Park, California and Herzelia, Israel.
About Olive Software, Inc.
Olive Software develops and markets an enterprise level content management platform for publishers and libraries, featuring an automatic transformation of new and printed publications to XML, long term digital archiving, and powerful multi-media electronic publishing system. The platform offers multiple vertical applications driven from a single workflow and single XML repository. Founded in 1999 by a team of experienced entrepreneurs, technologists and publishing industry veterans, the company is well on its way to becoming the industry standard in the electronic publishing space. 29.03.2004, Olive Software, Inc.
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