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IPipeline Raises First Venture Capital Financing

Friday, July 11, 2008 6:04:00 AM PDT | VentureDeal Staff
Exton, Pennsylvania --  Software company iPipeline said that it has secured a series A funding amount of $18 million.

The company has developed a suite of sales distribution software that it markets to the insurance and financial services industries as a software-as-a-service model.

Fidelity Ventures and NewSpring Capital made the investment.  The company said it would use the funding proceeds to expand its sales and marketing efforts and to make selected tuck-in acquisitions.

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