Alacritude Closes Series A Financing With Additional $1.2 Million

Jul 08, 2003

Alacritude, LLC, publisher of eLibrary and, has announced that it has secured an additional $1.2 million of equity financing in addition to the previously raised $3.1 million last December, 2002, to complete its Series A financing at a total of $4.3 million. The round was led by Chicago-based Prism Opportunity Fund, with Stamford, Connecticut-based 1to1 Venture Partners, LLC and several individual investors participating. The new $1.2 million in funding--originally targeted at just over $400,000--came from existing investors and one new Kansas City-based investor who was also one of the original investors in Hoover's, Inc., a company that Alacritude's Chairman and CEO Patrick Spain co-founded. With the new capital, Alacritude plans to build eLibrary and (acquired from Tucows, Inc. in August, 2002) through both internal growth and acquisitions.

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