Plansoft Scores Big Bucks

Plansoft Scores Big Bucks

In what is by far the largest pledge of venture capital to an Internet-based company targeting the meeting industry investors signed a deal giving PlanSoft $24 million, bringing the Cleveland-based company’s total invested capital to $40 million.

“Wall Street and Silicon Valley have been looking at business-to-consumer ventures for the past few years,” says David Hunt, CEO of PlanSoft. “The hottest thing in the investment community is in business-to-business.” That’s at the heart of the PlanSoft business plan. “We want to move the meeting industry onto the Web,” says PlanSoft’s Ed Tromczynski.

Leading the recent financing are Cornerstone Equity Investors, based in New York City, and Comcast Interactive Capital, in Philadelphia. [Editor’s Note: Adams Business Media has an alliance with PlanSoft.]

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