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Netkey Nabs Second-Round Funding
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Business New Haven
3/19/2001
By: BNH
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BRANFORD - Netkey Inc. (formerly Lexitech), a provider of software solutions for Web-enabled kiosks, has closed on an additional $500,000 in funding from C&T Access Ventures, bringing its total second round of funding to $10 million.
Hudson Ventures Partners of New York led the second-round investment syndicate for Netkey. Co-investors included Zero Stage Capital of Cambridge, Mass., Fleet Development Ventures of Boston, and Connecticut Innovations Inc.
“When Christian & Timbers recruits for a firm, we get to know them inside and out,” said Bill Trainor, managing director of C&T Access Ventures. “As we learned more about Netkey and its potential, we determined that they are well-positioned to dominate the kiosk software industry and make this emerging technology a household name. We are excited to be able to contribute to their success.”
Self-service kiosks are becoming an important customer interface in the retail, financial services and hospitality industries as organizations seek new ways to leverage their investment in Web-based information and e-commerce assets. In its latest research report, Frost & Sullivan projects a compound annual revenue growth rate of more than 20 percent in the interactive kiosk market over the next six years.
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