software on demand

Filed in archive Venture Capital on October 5, 2004

Two new developments in software on demand:

First: Stephan Schambach - founder of "we always make it next quarter" - Intershop is back. Stephan now heads new Boston based start-up Demandware that sells - you have guessed it - eshops on demand. Nevertheless Stephan convinced North Bridge Venture Partners and General Catalyst Partners to invest $7.15 million in Series A. The homepage does not offer too much information so far but no doubt the experienced team knows what e-commerce is about.

Second: The NYTimes has a nice summary of Halsey M. Minor's (founder of Cnet.com and now Grand Central CEO () plans for his private on demand investment fund:

"Later this week, Minor will announce the formation of a $50 million venture fund to invest in promising technology start-ups. This time, though, he will be risking no one's money but his own.

Where so-called angel investors typically sink $100,000 to $200,000 into a deal, Minor intends to invest no less than $500,000 in any one start-up, and as much as $20 million if the right opportunity presents itself."

Seems like starting an on demand software business gives you good chance to get proper fundning nowadays...