Bizzuka Inc., a leading provider of Web sites, Intranets, and web content management solutions, has raised $1.7 million in financing from Advantage Capital Partners, the Louisiana Technology Fund and several individual investors. The Lafayette-based company will use the funds to accelerate its national expansion plans. The company currently provides custom Web site design and content management services to over 300 small to medium-sized companies throughout the United States."It's important for us to continue expanding our product and our presence in a competitive marketplace," said John Munsell, Bizzuka's co-founder and chief executive officer. "With this investment from Advantage, the Louisiana Technology Fund and our angels, we can add the sales and development staff we need and continue to develop Bizzuka into a nationally recognized brand."
One of the goals of the Louisiana Technology Fund is to retain or bring new technology jobs into the state. Since relocating to Lafayette in 2003 from Tampa, Florida, Bizzuka has added 18 new jobs in the technology sector, an area of economic development also targeted by the city of Lafayette. "With the new funding, we expect to add another 20 jobs within the next 12 to 18 months," said Lonnie Rouse, co-founder and Chief Operations Officer.
Bizzuka is the first Lafayette-based company to receive funds from the Louisiana Technology Fund.
"Bizzuka's OnDeCC (On Demand Content and Components) technology brings high levels of capability and sophistication at a reasonable price for a large segment of the market," said Crichton Brown, managing director at Advantage in New Orleans. "We're pleased to invest in a Louisiana company that is serving a nationwide customer base."
Advantage invested its private capital in connection with Louisiana's Certified Capital Companies (CAPCO) program, which encourages the flow of investment capital to promising companies located in the state. These companies, in turn, develop technologies, create jobs and increase economic activity in their communities.
About Bizzuka
Founded in 2000, Bizzuka (http://www.bizzuka.com ) has developed and markets a unique, component based content management platform. In addition to giving companies the ability to easily edit all areas of content within their site, OnDeCC gives companies on-demand access to a library of over 100 Web based applications inside of their Web site, intranet or extranet. Bizzuka creates custom Web site designs for their client sites and also allows advertising agencies and other reseller partners to create custom designs for the OnDeCC platform.
About Advantage Capital Partners
Advantage Capital Partners (http://www.advantagecap.com ) is a private equity and venture capital firm focused on early stage companies and other investments supporting state and local economic development. With offices in New Orleans, St. Louis, Austin and other cities, Advantage has raised more than $750 million in institutional private equity since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.
About the Louisiana Technology Fund
The Louisiana Technology Fund is a partnership of the state's four research parks and Advantage, Enhanced, Whitecap Louisiana Growth Fund and Intertech Venture Fund. All three firms participate in the Louisiana Certified Capital Companies program. The technology fund will invest in companies engaged in or intending to engage in technology-based products or services in information technology, communications, medical, biomedical, advanced materials, food environment or micro-manufacturing technologies. The research parks included are the Louisiana Technology Park in Baton Rouge, University of New Orleans Research and Technology Park, University Research Park in Lafayette and InterTech Science Park in Shreveport.
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