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Title: LearningFramework Extends Second Round of Company Financing; Emerging e-learning Company Seizes Opportunity to Raise Additional $1 Million in Series B Round of Financing
Abstract: LearningFramework, a solution provider for learning and knowledge management, announced that due to the continued positive response it has received, the company has made the decision to extend its second round of financing to potentially include an additional $1 million. To date, the company has received a combination of funds and commitments from investors for approximately $5 million for the second round of financing. LearningFramework has received $8 million in fundraising commitments to date since the company's inception. LearningFramework will utilize the funds to further expand the development of its learning and knowledge platform, which is designed to empower customers to solve critical work flow issues and problems that exist in the delivery of education and training content today.

San Diego-based LearningFramework is a system and service provider (SSP) that utilizes standards-based technology and services to leverage knowledge assets for its clients. LearningFramework's open platform technology, and premier service support, opens the pathway to learning by bridging the content exchange between providers and end users. The company enables clients to tackle the fundamental challenges associated with learning in today's fast-paced, competitive world.

Source: LearningFramework, Jan. 19, 2001
Keywords: Financing, Software, Service Providers

Title: SmartForce Signs 100th Million Dollar Agreement; Fourth Quarter 2000 Represents Strongest Major Deal Quarter in SmartForce's History -- By a Factor of Two
Abstract: SmartForce (Nasdaq:SMTF) (www.smartforce.com), the world's largest e-Learning company, announced that during the quarter ended Dec. 31, 2000, it signed its 100th million dollar-plus agreement. This accomplishment means that SmartForce has signed more than 100 agreements with its customers with fully committed contract value of over $1 million each. The record number of million dollar deals signed in the fourth quarter helped SmartForce record $168 million in 2000 revenues, generate fully committed end of year backlog of $357 million, and become the one of the few profitable Internet companies in the market today.

SmartForce signed major deals across a variety of sectors of its customer base, including technology, telecommunications, pharmaceutical, healthcare, consulting and financial services. The company also signed million dollar deals in a number of international markets, including Europe and Asia. Moreover, the agreements further underscore the company's transformation from an information technology content provider to a provider of e-Learning solutions that support key business initiatives. Examples of the e-Learning applications being created under agreements signed during the quarter include:
  • A leading telecommunications equipment company signed a $5.2 million agreement to use a tailored e-learning application for its extended enterprise. The solution will support the customer's certification programs for both employees and channel partners. The solution also includes the use of WebTest, SmartForce's new Internet-based testing application, to test potential new hires on critical technical topics.
  • A major professional services integrator signed a $4.8 million agreement to create an e-Learning environment based on the SmartForce platform. The fully-hosted solution, which will be rolled out on a global basis, will enable the customer to rapidly increase the number of certified consultants on a range of technical and business topics.
  • One of the world's largest financial services companies expanded its relationship with SmartForce by signing a $1.1 million agreement to use the SmartForce e-learning infrastructure to distribute technology, business and soft skills content throughout its worldwide enterprise.
SmartForce, the world's largest e-Learning company, provides integrated enterprise e-Learning solutions. SmartForce e-Learning is available as a fully hosted Internet environment through an Internet rental model. With more than 2,500 major corporate customers, SmartForce e-Learning solutions bring the power of the Internet to the critical training business process. The SmartForce e-Learning environment is also used by leading Internet, software and other companies to provide the infrastructure to support their e-Learning initiatives. SmartForce is quoted on the NASDAQ National Market under the symbol "SMTF." The company, which has more than 1,500 employees worldwide, has corporate headquarters at 900 Chesapeake Drive, Redwood City, Calif., 94063. Phone: 650/817-5900. Fax: 650/817-5061. Web site: www.smartforce.com.

Source: SmartForce, January 18, 2001
Keywords: Financing, Content Providers

Title: NetSchools Corporation Completes $30 Million Equity Financing
Abstract: NetSchools Corporation announced that it has completed a $30 million equity financing. This round was led by ING Furman Selz Investments with investments by Wachovia Capital Associates and existing investors, including The Sturm Group, GE Asset Management, Vulcan Ventures, Inc., and Chase H&Q. The funds raised from the round will be used by the company to support the marketing and sales of the company's core products, which are geared to delivering one-to-one e-learning solutions to students and teachers in the K-12 market. Chase H&Q served as the company's private placement agent for this transaction.

NetSchools Corporation, headquartered in Atlanta, Georgia, is the leading one-to-one e-learning company focused on solutions that respond to the digital needs of the K-12 education market. The company's flagship offering is the NetSchools Constellation(TM), a complete Internet-based learning system that fosters focused interaction between students, teachers, and families by providing every student with a durable portable laptop computer, a wireless network allowing high speed system connectivity for every student, open curriculum management software, and long-term technical and instructional support. NetSchools has installed its comprehensive Constellation product in over 40 schools involving approximately 14,000 students in 14 states and the country of Barbados. The Internet-based curriculum, assessment and community-building components of NetSchools Constellation(TM) are also separately available to schools nationwide on the company's web service, NetSchools.com. NetSchools investors include: ING Furman Selz Investments, Chase H&Q, Vulcan Ventures, Inc., APV Technology Partners, Noro-Moseley, GE Asset Management, The Sturm Group, ULLICO and Wachovia Capital Associates.
Source: NetSchools Corporation, November 27, 2000.
Keywords: Financing/Funding, Internet, Education

Title: $360 Billion Education Market Continues To Draw Commitment From Investment Community
Abstract: Project ACHIEVE(TM), a producer of web-based school information systems, received $15 million in its second round of financing today, led by The Sprout Group, a venture capital affiliate of Donaldson, Lufkin & Jenrette (DLJ), and including investments from Arcadia Partners and Jostens Inc. Stacey M. Boyd, founder, president and CEO of Project ACHIEVE, announced that the funding was raised via a private placement through Merrill Lynch. Project ACHIEVE's school information systems improve two important processes in any school: teaching and learning. Using an Application Service Provider model, ACHIEVE allows educators and parents to log-on via a secure Internet browser to record data and view real-time information about student progress against state and district standards, attendance, disciplinary incidents, parent communications, and demographic information. Teachers save time by entering all data once into a single, secure system rather than recording information in various notebooks, files and duplicate forms.
Source: Project Achieve, February 17, 2000
Keywords: Venture Capital, Standards, School Information Systems, Application Service Provider
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