Automated flow printing solutions start-up Press-sense Ltd. has obtained a $5 million loan from Plenus Venture Lending Fund. The loan is part of a financing round, the proceeds of which the company plans to use to boost its business.
Press-sense was founded in 2001 as a spin-off from ProImage Ltd. (now Agfa-Gevaert Israel Ltd.) The company has 130 customers and posted $20 million in sales in 2006. The company has raised $10.5 million to date from Evergreen Venture Partners and Vertex Venture Capital, not including the current financing round.
Press-sense develops web-to-print solutions. Its customers include Hewlett Packard Co. (NYSE: HPQ), Xerox Corporation (NYSE: XRX), and Oce NV (Nasdaq:OCENY; XETRA; AEX:OCEN). The company's solutions enable commercial printers to manage and streamline business procedures from customer relations to pricing, production, planning, and inventory management.
Press-sense CEO Shlomo Ben-David said that the loan was a vote of confidence in the company and its team. "We anticipate a fruitful collaboration," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2008
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