Australian-born content management software developer Presence Online is showing no signs of slowing down in the softening economy, managing to attract a further $7 million in second-round venture capital funding.
Half of the dollars were committed by two of the developer's first round investors, the Ericsson-Deutsche Technology Fund and Deutsche Private Equity Fund, which put another $3.5 million on the table. Presence has also attracted the investment dollars of Rothschild e-Fund, which matched the first round investors with $3.5 million.
Presence Online develops and sells a Web content management product called "Aptrix" which sits on either of the Lotus Domino or J2EE (Java Enterprise Edition) platforms. In recent months the company has begun opening offices in the US, South America and Europe to expand into new markets.
Megan Clark, chief executive officer of Rothschild e-Fund, said that the developer's global channel partner relationships was one of the main reasons it chose to invest in the company.