NEW YORK--(BUSINESS WIRE)--July 22, 1999--
IntraLinks, Inc. announced today that it has raised $22 million from a group that includes two new strategic partners, Reuters and a major global pharmaceutical company, and current investors Ernst & Young LLP, Patricof & Co. Ventures Inc., and New York City Investment Fund. IntraLinks also appointed Devin N. Wenig, executive vice president at Reuters, to its Board of Directors.
The company, which provides Internet-based services to manage business-critical communication, will use the investment proceeds to expand its product offerings for the capital markets and legal community and extend its services into the pharmaceutical markets, as well as for general corporate purposes.
Mr. Wenig currently serves as executive vice president, responsible for marketing and strategic development for Reuters Information businesses in the Americas. Over the last five years, Mr. Wenig has been responsible for Reuters' global third party data program as well as acquisitions, investments and strategic planning in North America.
Speaking of Reuters' involvement with IntraLinks, Mr. Wenig said, "Working with the world's leading financial institutions, IntraLinks has created a benchmark for e-business in the capital markets. Reuters is particularly excited about synergies between Loan Pricing Corporation, a Reuters Company, and IntraLinks. The rapidly expanding, $1.5 trillion global loan syndications market depends on Loan Pricing Corporation for real-time news, data and analytics and IntraLinks for online loan syndications. We are also pleased to have this opportunity to join with other leading investors to aid IntraLinks' growth and expansion into new markets."
About IntraLinks, Inc.
IntraLinks is a leading provider of Internet-based services that allow corporations and institutions to manage business-critical communication. IntraLinks' services provide secure, neutral, online environments where professionals can organize and collaborate on document-intensive business processes and transactions. By speeding communication among multiple parties that participate in collaborative work processes, IntraLinks' services improve productivity, increase operating efficiencies, expedite transactions and reduce costs. IntraLinks' services are easily accessible globally using a web browser.
Over 1400 organizations have used IntraLinks' services. Since its first transaction in April 1997, IntraLinks has been used for complex legal matters, boards of director communication and over 680 capital market deals. With offices in New York and London, IntraLinks is an IBM Business Partner and a Lotus Premier Business Partner.
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