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Marketplace industry veterans funded by
Amplifier Venture Partners, Intersouth Partners
VIENNA, VA - March 28, 2006 - FlatBurger Inc., a
company that supports software developers working in hybrid
software environments, announced today it has secured an
investment of $1.75 million.
Reston-based Amplifier Venture Partners, LP and Durham-based
Intersouth Partners co-led the $1.75 million seed
investment. The round, which will be used to complete
product development, is the company's first outside
financing. Don Rainey of Intersouth Partners and Jonathan
Aberman of Amplifier Venture Partners will join the
company's Board of Directors.
FlatBurger supports software developers working primarily
with open source software by providing them with a business
infrastructure to complement the development tools they
employ in the Microsoft Visual Studio environment.
FlatBurger will provide an economic platform for those
developers to bring their applications to market through
development guidance; development standards; quality
assurance and testing; software licensing support; and
distribution, marketing and ecommerce services.
The company will focus its efforts initially on serving the
needs of the rapidly growing DotNetNuke (DNN) community of
software developers. DotNetNuke is an Open Source Framework
ideal for creating professional Web applications and is
based upon Microsoft ASP.NET technologies.
We are very pleased that FlatBurger chose to partner with us
at its launch, said Jonathan Aberman, Managing Director of
Amplifier. Our fund's model is to work with experienced
entrepreneurs who want hands-on, strategic assistance. Many
of the most interesting serial entrepreneurs can finance
their next business themselves, so you have to bring
something useful and valuable for them to welcome you into
their team.
FlatBurger is solving a critical need in a large and growing
market, said Don Rainey of Intersouth Partners. The
founders, truly seasoned entrepreneurs, impressed us with
their knowledge and industry relationships, as well as their
aggressive plans to help this market grow for the benefit of
many different market participants. We're excited to be part
of the value proposition they introduce to the development
community.
FlatBurger is led by co-founder and CEO Bill Phelan, a
seasoned software executive with expertise in online markets
and Internet businesses. Prior to starting FlatBurger, Mr.
Phelan drove the creation of FTD.com and successfully grew
and exited several other businesses, including OneMade,
Inc., a developer of online auction tools, which was
acquired by America Online (AOL) in May 2003. Phelan's
FlatBurger co-founder is Bob Smith, who is also a Venture
Advisor in Amplifier Venture Partners. Mr. Smith was the
founder of AOL's Digital Cities, and has worked with a wide
range of emerging companies as an investor and advisor,
including ezGov, The Map Network, OneMade, Inc., PromiseMark
and Provista.
This financing will support our rapid growth as we set out
to define an exciting new market, said Bill Phelan, CEO of
FlatBurger. We are pleased to have experienced and
enthusiastic investors partner with us as we set out to make
software development and distribution in the DNN market
efficient, manageable and profitable for a rapidly growing
community of developers and buyers around the world who are
exploring new ways to build their businesses while taking
advantage of the benefits of open source software. We are
also pleased with the depth of their financial resources and
ability to continue supporting our capital needs as we grow.
About FlatBurger, Inc.
FlatBurger supports software developers working primarily
with open source software by providing them with a business
infrastructure to complement the development tools they
employ in the Microsoft Visual Studio environment. The
company name reflects a belief in the flattening of a world
that has no borders, enabling economic opportunity to be
accessible to any market participant regardless of their
physical presence.
FlatBurger has offices in northern Virginia and Troy, New
York. For more information, please visit
www.FlatBurger.com.
About Amplifier Venture Partners, LP
Amplifier Venture Partners, LP provides seed and early stage
venture capital funding to three to four businesses per
year. Through its relationships with established larger
venture capital funds represented on its Board of Advisors,
as well as its strategic relationships with leading
universities and other community leaders, Amplifier is
actively looking for seed and early stage companies in areas
such as Web 2.0, Internet content, management and
enablement, hosted business applications, identity
management, network security and open source software.
Amplifier Venture Partners has been in existence since
mid-2005. FlatBurger is its second investment. Further
information regarding Amplifier can be found at
www.amplifierventures.com, or you may contact Jonathan
Aberman, Managing Director, at 703.464.8100 or
jaberman@amplifierventures.com.
About Intersouth Partners
Located in Durham, North Carolina and Reston, Virginia,
Intersouth Partners is one of the largest and most
experienced early stage venture funds in the Southeast,
having invested in more than 75 private companies. Founded
in 1985, Intersouth Partners manages more than $500 million
in six venture capital limited partnerships, focused on the
technology and life sciences sectors. Visit
www.intersouth.com for more information.
Contacts
Bill Phelan
FlatBurger, Inc.
518.369.4902
bphelan@FlatBurger.com
Jonathan Aberman
Amplifier Venture Partners, LP
703.464.8100
jaberman@amplifierventures.com
Suzanne Cantando
Intersouth Partners
919.493.6640 ext. 108
suzanne@intersouth.com
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