? CAMARILLO, CA — eLabor.com, the leading provider of workforce management solutions, today announced it has received $40 million total in its second round of equity financing and strategic alliance relationships. The funding was led by Lehman Brothers and included investment from Redpoint Ventures and Microsoft. Founded in 1983, eLabor.com provides comprehensive workforce management solutions for every role in an organization through either its hosted Workforce Portal or as a software license. This investment adds to the $7.5 million secured in the first round of funding from Brentwood Venture Capital in 1998.
? SAN FRANCISCO — TurboLinux Inc., the high-performance Linux company, today announced it has closed $30 million in a third round of funding with global computing giants including FUJITSU LIMITED, Hitachi, Ltd., IBM, SGI and SOFTBANK E-COMMERCE CORP. making their first-ever investments in the company. Details of the financing round were not disclosed. More than 15 corporate and venture investors participated in the round, including investment firms Deutsche Banc Securities and H&Q Asia Pacific. Previous investors in TurboLinux who also participated in the most recent round include August Capital, Dell Ventures and Intel Capital.
? SAN FRANCISCO — Stanford Capital Ventures Corp. today announced CreateLabs, an equity investor, technology builder, US-Asia strategic alliance developer, and incubator of high technology businesses focusing on innovative web based software solutions, broadband, and wireless opportunities in the U.S. and Asia. CreateLabs has a strategic investment in development powerhouse CyberLabs.com, with several offices in Hong Kong and China. CyberLabs provides soup to nuts marketing, technical and operations development, including Internet and intranet development, database creation, instant translation, and Chinese localization. CyberLabs.com has developed several websites in operation including Giftcentre.com.cn and Dxgift.com.cn.
? SAN JOSE, CA — Lantern Communications, the pioneer of 10 Gbps Ethernet optical packet rings, today announced that it has raised $59 million in its second round of financing. This funding will hasten the development of the company’s innovative Resilient Optical Packet Ring (ROPR) system for metropolitan area networks. Additionally, the funding will facilitate the expansion of the company’s operation through its newly formed subsidiary, Lantern Communications Ltd., located in Ottawa, Canada. Led by The Goldman Sachs Group Inc. and its affiliates (NYSE:GS), the round also includes prominent investment partners Madison Dearborn Partners, Menlo Ventures, Integral Capital, Tyco International and existing investor Mohr Davidow Ventures. Included in these investors’ portfolios are a number of next generation service providers who are deploying IP-based infrastructures and can benefit from Lantern’s IP-optimized systems for delivery of application-aware Ethernet services.
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