SUNNYVALE, Calif., May 2 /PRNewswire/ -- Project Napa, a stealth Silicon Valley Internet startup, announced today that it has closed on a $1.3 million seed round of financing from a group of venture capitalists and private investors. Venture capital firms The Argentum Group and Crimson Venture Partners LLC co-led the round. "We're big believers that Project Napa's concept will revolutionize the content model on the Internet," says Walter Barandiaran, Managing Partner at The Argentum Group. "But we're backing more than a great concept, we're backing a stellar team." Still in stealth mode, Project Napa aims to transform the way content is distributed, searched and consumed today. Project Napa will bring users and content providers together on a unique platform that makes access to such content painless. Project Napa was founded and is led by a team of successful, second-generation netpreneurs. "Head Grape" Brian Shin, Vice President of Technology at Medsite.com, a leading eHealth company, is an Internet veteran of several successful startups. Brian co-founded enterprise CRM vendor Cambridge Intelligence Agency, which was acquired by MSGi and merged with CMG Direct, the original CMGi company, to form WiredEmpire. He was also co-founder and Chief Information Officer of CreativeAspect, which was acquired by Medsite.com. Before that, he was with Allaire Corporation. -- "Product Connoisseur" Terence Pua was the founder and CEO of justquotes.com, an investment research portal. Following StockMaster.com's acquisition of justquotes.com, Terence was responsible as General Manager for new product development in the financial services space. -- "Engineering Connoisseur" Allen Chen was formerly a Product Manager at StockMaster.com. Prior to StockMaster.com, Allen was a core member of Sun Microsystems and IBM's JavaOS engineering team. -- "Business Development Connoisseur" Charles Woo was formerly with Send.com in business development and recently withdrew from Harvard Business School to co-found Project Napa. Prior to Send.com, Charlie was a private equity executive at Thomas H. Lee Company and an investment banker at Morgan Stanley. About Project Napa Based in Sunnyvale, Calif., Project Napa is a pre-launch, second-generation Internet company. Project Napa was founded in March 2000 and has been selected as a leading participant in the IBM-Conxion DotCom Incubator Program. Project Napa is located on the World Wide Web at http://www.projectnapa.com . About The Argentum Group The Argentum Group (Argentum), founded in 1987, is a New York-based venture capital firm that provides capital to emerging growth companies for development, growth, and acquisition. Argentum is General Partner for four investment funds, which have invested in over 115 companies in a broad range of market sectors including eBusiness, new media & communications, Internet infrastructure, software, business services, and outsourced industrial services. Argentum generally invests between $5 million and $10 million in each of its portfolio companies. Representative investments include Applied Data Systems, Inc., The Cobalt Group, Inc., Digital Club Network, Inc., Dynamic Mobile Data Systems, Inc., Global Commerce Systems, Inc., HorizonLive.com, Inc., KnitMedia, Inc., M3 Technologies, Inc., Medsite.com, Inc., NuCo2, Inc., Omnipoint Corporation (acquired by VoiceStream,) Security Dynamics Technologies, Inc. (merged with RSA Security, Inc.,) ShopNow.com, Inc., TRADEX Technologies, Inc. (acquired by Ariba, Inc.,) Tut Systems, Inc., and XMLSolutions Corporation. About Crimson Venture Partners LLC Crimson Venture Partners (CVP) is an angel investment fund focused on seed stage opportunities at the Harvard Business School. CVP's limited partners include J. H. Whitney & Co., a $5.0 billion private investment firm based out of Stamford, Connecticut. CVP is an active investor in the communications, Internet and technology sectors. CONTACT: Charles Woo, Business Development Connoisseur of Project Napa, Inc., 408-835-5528, or fax, 408-725-0364, or email@example.com . This release was issued through DigitalWork.com -- Your Business Workshop. More information on DigitalWork.com may be found at http://www.digitalwork.com
SOURCE Project Napa, Inc.