o FRESNO, CA — In an effort to prepare for expected growth in corporate development, employees, and revenue, WellnessAmerica Online, Inc. (OTC BB:SONT), announced today that it has closed an initial $8 million round of funding with a pledge of an additional $60 million expected to close within the next two months. Jeff Finney, President of Hong Kong-based Nihon Pacific TSI led the initial funding round with contributing syndicate members that included approximately 150 top tier securities firms, investors, and venture capital firms located in Asia and the United States.
The proceeds will aid WellnessAmerica Online, Inc. in its acquisition and corporate development campaign that is anticipated to drive the Company to become a leader in the
Alternative Health E-Commerce arena by acquiring companies that will create a sophisticated e-commerce platform expected to generate immediate recurring revenue.
o SAN JOSE, CA — Coradiant Inc., announces the closing of $20 million in first round funding from US venture capital companies including Doll Capital Management and Sandlot Capital.
Formed in February 2000, Coradiant is the first pure-play, zero-footprint Managed Service Provider (MSP) built from the ground up to be symbiotic with collocation owners, top-tier IP carriers, content delivery firms, storage network providers and e-businesses. The funding will be primarily used to support a significant growth in the company’s global e-business services infrastructure, as well as open additional worldwide offices to service a rapidly expanding customer base.
o GREAT BARRINGTON, MA — HotRoof(TM), Inc., an application service provider (ASP) delivering streaming media solutions for Internet and corporate clients, today announced that it has completed a $3.3 million round of equity financing from Davenport Capital Ventures and Village Ventures, Inc. to launch the initial applications of its soon to be announced proprietary software product for the delivery of customized video programs to Internet end-users.
Davenport Capital Ventures of Braintree, Massachusetts leads the group of investors, with
additional contributions from Village Ventures, Inc., existing investor The Berkshires
Capital Investors (BCI) of Williamstown, Massachusetts, and the Company’s investment
bankers, Meridian Financial Investments, Inc. of Quincy, Massachusetts. BCI is a member of the Village Ventures network of funds.
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