Following Cable & Wireless’ $20 million investment in GorillaPark (see EVCJ September 2000, page 13), the Internet business accelerator has announced the completion of its $40 million second round of funding. Joining Cable & Wireless in the round are Initiative-IP which has put in between $7.5 million and $8 million, ABN AMRO, Crescendo Ventures, Deutsche Bank, NeSBIC Group and Rabobank Nederland.
Jerome Mol, chairman and CEO of GorillaPark, stated that when looking for investors, the company wants to find a strategic partner to deliver its services throughout the world. He added that GorillaPark is continually looking for products to enhance its performance and that Cable & Wireless is a prime example of this, helping the company to generate ideas. Mol describes Initiative-IP as a very well networked company with a strong French base that will enhance GorillaPark’s success in the French market thanks to the production ability and experience of its Initiative-IP engineers. He stated, “We are especially pleased to welcome Initiative-IP to our investment group. Their key position and vast network throughout the French business community gives GorillaPark a strategic partner who will help accelerate our expansion into the French market and beyond.”
Last month, GorillaPark also announced the addition of two new companies to its portfolio. Moonshake Technologies is a service provider offering Internet software architecture design, research and development for Internet start-ups and is joining GorillaPark with the objective of rapidly expanding its pan-European program. Exaide is a full service provider of e-business consulting and implementation that helps clients effectively integrate e-business as part of an overall business strategy. GorillaPark considers the company “well positioned to capitalise on the emerging need of traditional brick and mortar companies to transform themselves by adding e-business capabilities”. The announcements coincided with the official opening of the new London offices that took place last month.