StrikeIron hits the anvil with $5M in new funding
CARY, NC (March 20, 2009) — StrikeIron Inc., which sells data-as-a-service, has closed a $5 million round of new funding with existing investors participating.
Current Investors who participated in this round include NC-based Aurora Funds, NC Idea, and Boston-based Ascent Venture partners.
The company says that during 2008, it added more than 500 new customers and increased sales by nearly 300 percent.
Earlier this year, the company told the Triangle Business Journal it would add about seven people to its then staff of
22 following this funding.
"Despite a tough economic environment, StrikeIron is pleased to experience growth as organizations continue to embrace Web services," said Richard Holcomb, CEO of StrikeIron.
"With today's budget constraints, we are committed to providing our customers with powerful, valuable, and cost-effective resources so that they can make smarter choices to meet their budgetary needs."
Business users, application developers and enterprise IT professionals are able to customize and integrate external data sources and additional external functionality from StrikeIron into enterprise, Web, and composite applications.
The company provides a technology platform, micro-transaction management, and a consistent interface across many XML-based services from multiple and diverse sources.
StrikeIron's e-commerce services are among its most popular.
They include address correction for companies that ship products, currency rates and live data sources and business
functionality from organizations such as Cortera, Gale Cengage, MapQuest, Midnight Trader, SpeedTax, and Zacks.
These include a new service from SpeedTax that enables real-time calculation of sales tax rates based on delivery address, jurisdiction, and tax classification category. The service not only provides sales tax information but also validates and standardizes addresses.
The jurisdiction mapping functionality uses rooftop mapping to provide the most precise and detailed information available and can be integrated into financial solutions, eCommerce shopping carts, or CRM systems.
These services follow closely on the heels of the launch of LiveData for Excel earlier this year. LiveData for Excel makes connections to external or internal live data sources from within the familiar Excel environment.
The company's 1,600 customers and partners include Avaya, BEA, Delivery.com, IBM, Honda Europe, Siemens, Nike, Swarovski, ShoeBuy, and Exclusive Resorts.