Content provided in partnership with
Web services firm Invision.com receives $5 million in funding
Long Island Business News, Jan 31, 2006 by Henry E. Powderly II
Web services firm Invision.com has received $5 million in funding to expand its presence in the region, the company announced Tuesday. Invision, the parent of LongIsland.com and LIJobs.com, received $2.5 million investments each from Advantage Capital Partners and Commerce Bank, said Chief Executive Officer Tyler Roye.
- Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »
The money will be used for certain strategic acquisitions and for 50 new hires in 2006 to aid in the company's growing IT support business, in which companies outsource the hosting and day-to-day maintenance of computer networks to Invision. Roye said the company is seeing strong demand for these services, with a majority of its revenue now coming from that market, what he called utility-like services. We're inundated by opportunity and are ramping up the receiving machine.Roye said the firm is looking for high-end project managers, programmers, network engineers and other support staff. Advantage's investment was made through New York's Certified Capital Company Program, in which insurance companies operating in the state can earn tax credits by making investments in small companies that frequently have difficulty accessing traditional funding sources.Roye added that while the firm may expand beyond its Long Island base, it will also seek to grow its market share in existing territories.It comes down to more of the same. A little further geographically perhaps, and more penetration in our existing markets.
Copyright 2006 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.
Find Research Guides for:
Find Featured Titles for: Home & Garden
Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »