Transactiv Raises $1.2 Million

Transactiv, an Ohio-based developer of an online commerce platform, closed a $1.2 million Series A round of financing with Blue Chip Venture Capital, CincyTech, Neyer Holdings, Queen City Angels, and participation from Cincinnati, Ohio-based private investors.

PRESS RELEASE

-Transactiv, an Ohio-based startup that is developing a new transactional platform for online commerce, today announced that it has closed a $1.2 million Series A round of financing with Blue Chip Venture Capital, CincyTech, Neyer Holdings, Queen City Angels, and supporting participation from Cincinnati’s most prominent private investors. The capital will be used to fund the company’s development of its next-generation commerce platform, intellectual property portfolio, and technology leadership.

“Transactiv is a highly innovative organization, poised for tremendous growth,” said Stephen Boord, Managing Director, at Neyer Holdings. “Transactiv’s combination of ground-breaking technology, a highly experienced management team, and its unique and compelling value proposition creates the opportunity for it to be one of Cincinnati’s most promising startups.”

“We are pleased by this vote of confidence from our investors and share their enthusiasm for building successful new technology startups in Ohio,” said Karl Perron, Transactiv President and Chief Executive Officer. “Our investors have an impressive track record of funding the region’s most successful companies, and we look forward to joining their ranks when we launch our innovative platform in 2010.”

About Transactiv

Transactiv is a new Cincinnati-based startup dedicated to enabling online commerce for businesses of all sizes. Founded by a team of experienced professionals from SAP, Microsoft, and i2, Transactiv addresses a fundamental need in online commerce to effectively connect millions of products and businesses online. For more information please visit www.transactiv.com.