VentureBank@PNC today announced that it will provide working capital financing for Fairfax, Va.-based Webversa, a pioneer in voice and wireless access to enterprise information. Webversa offers mobile users dynamic, two-way access to enterprise applications and data from any telephone, using voice commands.
VentureBank@PNC offers a wide range of financial solutions from loan facilities and direct equity to strategic advice for companies in all developmental stages through its team of venture capital financing professionals. Since its inception in 1998, VentureBank@PNC has provided a broad range of financial services to numerous high technology and emerging growth companies. The transaction with Webversa represents the bank's first significant lead financing for a voice technology provider.
"Voice access to the Internet is changing the way people use and benefit from enterprise and Web-based information," said A. William Stein, co-head, VentureBank@PNC. "Our support of Webversa's promising technology exemplifies our confidence in the company's bold vision, technical expertise and strong leadership in a potentially explosive market. Our financial solutions are customized to meet both current and future needs of companies like Webversa, and we are pleased to provide our resources to companies that can positively impact the future of e-business."
Webversa extends corporate enterprises beyond the confines of traditional wired networks through its Webversa Voice™ application. The technology allows users to navigate Web sites, databases and enterprise applications by voice command using telephones. Voice access' potential has been praised by industry analysts and other experts who believe that real-time interaction with e-business information represents a market space with great promise.
"Value creation in the interactive world is moving upstream to high-value applications and the most broadly available platforms," said Mark Plakias, vice president and lead analyst of Voice and Wireless Commerce at industry analysis firm The Kelsey Group. "This refers to enterprise users and voice, which is where Webversa has focused its energies. We expect to see this space heat up significantly in 2001."
"VentureBank@PNC's participation in our financing efforts is yet another validation of Webversa's technology solutions," said Janet C. Wylie, president and CEO, Webversa. "The support of a financial services organization like PNC will help strengthen our `enterprise everywhere' voice solutions and expand our business. Webversa is pleased to join the ranks of other high-growth companies that benefit from VentureBank@PNC resources."
About Webversa
Webversa, the leading provider of voice-to-enterprise services and technology, extends corporate enterprises beyond the confines of traditional wired networks. It provides real-time, ubiquitous access to any enterprise application, database, or Web site through any phone, anywhere. With the Webversa Voice™ application, users can gain access to their applications and navigate via voice commands from a standard telephone and have dynamic content read back to them, making e-business or customer service information available anytime and anywhere for time-critical decision-making. The technology integrates seamlessly with existing applications for fast implementation and return on investment. Webversa's solution is available as a hosted service, providing high reliability and scalability with a minimal investment. For more information, visit http://www.webversa.com/ or call 703-207-0040.
About VentureBank@PNC
VentureBank@PNC, a member of The PNC Financial Services Group, (NYSE: PNC) provides a full range of financial solutions through PNC Bank N.A. and its affiliates, including loans, equity investments, merger & acquisition advisory services, treasury management and private banking products to emerging companies with significant growth potential. It offers creative, flexible capabilities of a boutique investment banking firm coupled with the resources, depth and stability of a large financial services provider.
The PNC Financial Services Group, Inc. (NYSE: PNC), headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund processing services.
SOURCE: The PNC Financial Services Group
Contact: Susan Barron of VentureBank, 412-768-5033, or
susan.barron@pncbank.com; or Peter Jacobs of Webversa, 703-207-0040, or
pjacobs@webversa.com
Website: http://www.webversa.com/
Website: http://www.venturebank-pnc.com/
Website: http://www.pnc.com/
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