Venture capitalist eyes e-procurement

Trans-Tasman venture capital firm IT Capital will invest $2 million in Streamlink giving the VC a 23.5 per cent stake in the company.

The vendor says its differentiator is its focus on enhancing existing buyer/supplier relationships, while it says other procurement solution developers focus solely on building outside e-marketplaces.

IT Capital executive vice president Simon Brown, said the firm is backing Streamlink because it is a "driving force" behind the e-procurement sector's development here. "It's approach has seen it build an impressive position in the Australian market," Brown said.

He added that the company had global potential, demonstrated by business partner IBM'S backing.

IT Capital is Streamlink's first investment partner. Streamlink, which develops e-procurement software for vertical industries, manages the B2B purchasing and invoicing for Coca Cola Amatil, PricewaterhouseCoopers, Qantas and others.

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