Salion Inc., develops software for companies that supply goods to the auto industry, will use the money to expand its engineering, professional services and marketing and sales efforts. It also will try to move into the aerospace, defense and high-tech markets. Salion, located in the Perry-Brooks Building, 720 Brazos St. in the CBD, has raised a total of $15 million.
ClearCube will use its credit to support efforts to increase sales of its decentralized personal computer systems. The money comes in a $3.5-million revolving credit line and a $500,000 equipment credit line. ClearCube is located at 8834 N. Capital of Texas Highway in the northwest submarket.
Through Sept. 30, Austin companies had raised $943 million in venture capital with most of it going to existing companies, according to Angelou Economic Advisors. Venture money invested in Austin area companies peaked with $1.6 billion in 2001.
Salion's product is called revenue acquisition management software, which helps suppliers manage the work involved in preparing quotes and proposals for customers. ClearCube makes personal computer systems that are housed in a centralized location and connected to keyboards and monitors on employees' desks. The setup is designed to give information technology managers greater control over the systems and provide more security.
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