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Viaken Secures $13 Million in Second Round Funding

NEW YORK, June 25 – Bioinformatics provider Viaken Systems of Gaithersburg, Md., said Monday it has closed $13 million in second-round equity funding. 

Sterling Venture Partners was the lead investor, along with new participating investors MacAndrews & Forbes, Allianz, Schoffstall Ventures, and E-media, and repeat investors Core Capital Partners and Mid-Atlantic Venture Funds. 

Viaken received $3.7 million in its first institutional round of funding in April 2000.

The company said it expects to use the new funding to support expansion of its sales and marketing efforts and its professional services activities, and further invest in its data products business. 

"This round of financing represents an important step in the growth of the company," said Tom Smith, Viaken director and general partner of Mid-Atlantic Venture Funds. "To raise funds in a challenging economic environment from a quality group of investors is validation of the company's strategy.”

Last week, Viaken announced it had hired Michael Provance, formerly of Internet consulting firm US Interactive, to head its global professional services activities. Provance will take over the responsibilities of managing the services group from Stephen Gardner, Viaken's vice president and CTO. Gardner will now concentrate on developing the company’s data products business and its European operations.  

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