Unit.Net AG Closes Second Round Financing

Unit.Net AG (www.unit.net), which raised CHF 4 million (Euro 2.6 million) in its first round of financing in October 1999, announced the initial closing of a CHF 17.3 million (Euro 11.4 million) second round financing. Investors include Part'Com, Belgacom Multimedia Ventures and Holland Venture, which invested in the first round as well.

The proceeds from the current round of financing will be used for Unit.Net's European expansion as well as the development of new applications for the company's corporate and media customers, which include Credit Suisse Group, Novartis, Aventis and General Motors, as well as the World Trade Organization (WTO) and the International Labor Organization.

Unit.Net, which is headquartered in Zurich, with subsidiaries in Germany, France, Italy and Spain, services the market for corporate communications through its press and investor relations solution Conference IT. The company has also teamed with Network Appliance to offer streaming applications for corporate intranets, a solution branded Internalise IT.

"We are on track to become Europe's Number One platform for the provision of high quality streaming media services," says Andrea Cappellari, CEO of Unit.Net. "The rapid expansion beyond Switzerland to four other countries proves the scalability of our business model while establishing ever higher quality standards in service delivery. The simplicity of our signal acquisition and streaming application integration capabilities, coupled with a powerful global distribution network supported by our relationship with Activate, a majority-owned operating company of CMGI, Inc., gives our clients the full benefits of streaming media, without burdening themselves with technology. We make streaming simple, reliable and seamless."