Netkey, Kiosk Software Leader, Receives Investment from C&T Access Ventures
Venture Arm of Christian & Timbers Increases Netkey Total
Second Round Funding to $10 Million
March 12, 2001 - Netkey, Inc. -- the leading provider of end-to-end software solutions for Web-enabled kiosks -- announced today that it has successfully closed on an additional $500,000 in funding from C&T Access Ventures, bringing its total second round of funding to $10 million.
The second round investment syndicate for Netkey was led by Hudson Ventures Partners of New York. Co-investors included Zero Stage Capital of Cambridge, Mass., Fleet Development Ventures of Boston, and Connecticut Innovations of Rocky Hill, Conn.
"When Christian & Timbers recruits for a firm, we get to know them inside and out," said Bill Trainor, Managing Director of C&T Access Ventures. "As we learned more about Netkey and their potential, we determined that they are well-positioned to dominate the kiosk software industry and make this emerging technology a household name. We are excited to be able to contribute to their success."
Self-service kiosks are becoming a critical customer interface in the retail, financial services and hospitality industries as organizations seek new ways to leverage their investment in Web-based information and e-commerce assets. In the next phase of Customer Relationship Management (CRM) technology, businesses are increasingly demanding measurable return on investment (ROI) and full integration of their kiosk networks with existing marketing and communications channels to better segment customer bases and deliver targeted messages, enabling the delivery of a single "customer view."
In its latest research report, Frost & Sullivan projects a compound annual revenue growth rate of more than 20 percent in the interactive kiosk market over the next six years. Frost & Sullivan recently ranked Netkey as "the premier provider of kiosk software." Netkey's software platform continues to grow with help from investors such as Christian & Timbers. The company recently unveiled Netkey Manager (TM), the industry's newest and most powerful solution for kiosk network monitoring, reporting, analysis and content management.
"Christian & Timbers and C&T Access Ventures bring a great deal to the table both as an investor and recruitment partner," said Alex Richardson, chief executive officer of Netkey. "They have deep experience in understanding what it takes to make a company succeed, and what that company needs to grow. In addition, they have a truly world-class advisory board and we hope to draw on their leadership and experience to help move Netkey to the next level."
About Netkey, Inc.
Netkey, Inc. is the recognized leading provider of innovative and scalable software products and services for self-service devices including kiosks, Web-enabled ATMs and managed PCs. Netkey offers a comprehensive Internet-based software platform for delivering content, services and applications to a broad range of customer-activated point-of-sale (POS) and point-of-information (POI) appliances. Leading retailers, banks and other organizations use Netkey's scalable e-business technology to deliver rapid returns on investment and enhanced customer service. Netkey's software suite has become the authoring and server platform of choice for developers and systems integrators across the globe including NCR. Frost & Sullivan ranks Netkey as "the premier provider of kiosk software." Netkey's list of forward-thinking customers includes Yahoo!, J.C. Penney Co. Microsoft, Borders Group. Inc, Ford Motor Co. and Service Merchandise. Netkey is located in New York, San Francisco and Branford, Conn.
Netkey holds U.S. Patent No. 5,761,071 for its browser kiosk system and U.S. Patent No.6,078,848 for its peripheral integration software for browser kiosk system. For more information about Netkey and its award-winning solutions, call 1-800-443-7924, e-mail [email protected], or visit www.netkey.com.
About C&T Access Ventures
C&T Access Ventures is a $44 million venture capital fund sponsored by Christian & Timbers. Founded in 2000 the fund invests in companies where Christian & Timbers provides senior executive placement services. These targeted clients of Christian & Timbers include high-growth technology companies in industries such as broadband, networking infrastructure, security, software, and wireless communications. This approach allows Christian & Timbers to partner from a strategic staffing perspective with its clients. C&T Access Ventures makes co-investments in private companies with existing top-tier venture backing where the principals of the fund have business or professional relationships, and will invest between $500,000 and $2 million per company.
Netkey Media Contact:
Penny Crump
Corporate Communications Manager
(203) 483-2888 ext. 276 [email protected]
James Dienes
Jacobs & Prosek Public Relations
(212) 232-2357
[email protected]
C&T Access Ventures Media contact:
Rob Wyse
Media 1st
(216) 765-8020
[email protected]
