CitySoft, Inc. Closes $1,800,000 Investment Round

Apr 17, 2001, 01:00 ET from CitySoft, Inc.

    WATERTOWN, Mass., April 17 /PRNewswire/ -- CitySoft, Inc., a web site
 management company, has completed an investment round of $1,800,000, President
 and CEO Nick Gleason announced today.  The round included both prominent high-
 tech investors such as Esther Dyson and Mitch Kapor and well-known social
 investment funds such as the New York Community Investment Company, Coastal
 Ventures Limited Partnership, and MMG Ventures.  "I like the idea of doing
 well by doing good," said EDVenture's Dyson.  "CitySoft is out to make a
 profit, but to do so by finding people who are not using their talents and
 helping them learn to be productive.  What could be more satisfying?"
     The financing round was led by the Sustainable Jobs Fund, LP and the
 Calvert Social Investment Fund.  "We are delighted to pull together this
 syndicate of community development venture capital funds and leading
 technology investors to fuel CitySoft's growth," said David Kirkpatrick, SJF
 Managing Director and a Director of CitySoft.
     CitySoft provides Web Management and Enhancement for corporations and
 technology services firms.  CitySoft works with clients to manage, enhance,
 and update Internet sites and applications.  CitySoft's clients and partners
 have included America Online, Accenture, Reebok, Sapient, and Polaroid.
     In addition, CitySoft is uniquely committed to addressing the digital
 divide by recruiting talented team members from urban neighborhoods like
 Harlem that traditionally are not well connected to the new high-tech economy.
 With offices in NY, Boston, and Baltimore/DC, CitySoft has successfully
 provided companies with Internet consulting services for 4 years, while
 maintaining its commitment to hire from underrepresented urban areas.
 CitySoft's goal is to create many more new economy jobs targeted to residents
 of urban neighborhoods within the next five years in cities around the
 country.
     "CitySoft is delighted to be working with this group of investors," said
 Mr. Gleason.  "They combine high tech expertise with an unparalleled
 commitment to urban economic development.  As the Internet services market
 evolves, this investment will help CitySoft take advantage of new
 opportunities to solve our clients' needs by helping them maintain and enhance
 their web sites and applications.  In the process, we will continue to recruit
 and develop great talent from urban neighborhoods."
     For more information, please contact CitySoft's Amanda Birnbaum at
 (212) 344-3121, by cell phone at (917) 549-7730, or by email at
 abirnbaum@citysoft.com.
     CitySoft can be accessed on the World Wide Web at www.citysoft.com
 
 

SOURCE CitySoft, Inc.
    WATERTOWN, Mass., April 17 /PRNewswire/ -- CitySoft, Inc., a web site
 management company, has completed an investment round of $1,800,000, President
 and CEO Nick Gleason announced today.  The round included both prominent high-
 tech investors such as Esther Dyson and Mitch Kapor and well-known social
 investment funds such as the New York Community Investment Company, Coastal
 Ventures Limited Partnership, and MMG Ventures.  "I like the idea of doing
 well by doing good," said EDVenture's Dyson.  "CitySoft is out to make a
 profit, but to do so by finding people who are not using their talents and
 helping them learn to be productive.  What could be more satisfying?"
     The financing round was led by the Sustainable Jobs Fund, LP and the
 Calvert Social Investment Fund.  "We are delighted to pull together this
 syndicate of community development venture capital funds and leading
 technology investors to fuel CitySoft's growth," said David Kirkpatrick, SJF
 Managing Director and a Director of CitySoft.
     CitySoft provides Web Management and Enhancement for corporations and
 technology services firms.  CitySoft works with clients to manage, enhance,
 and update Internet sites and applications.  CitySoft's clients and partners
 have included America Online, Accenture, Reebok, Sapient, and Polaroid.
     In addition, CitySoft is uniquely committed to addressing the digital
 divide by recruiting talented team members from urban neighborhoods like
 Harlem that traditionally are not well connected to the new high-tech economy.
 With offices in NY, Boston, and Baltimore/DC, CitySoft has successfully
 provided companies with Internet consulting services for 4 years, while
 maintaining its commitment to hire from underrepresented urban areas.
 CitySoft's goal is to create many more new economy jobs targeted to residents
 of urban neighborhoods within the next five years in cities around the
 country.
     "CitySoft is delighted to be working with this group of investors," said
 Mr. Gleason.  "They combine high tech expertise with an unparalleled
 commitment to urban economic development.  As the Internet services market
 evolves, this investment will help CitySoft take advantage of new
 opportunities to solve our clients' needs by helping them maintain and enhance
 their web sites and applications.  In the process, we will continue to recruit
 and develop great talent from urban neighborhoods."
     For more information, please contact CitySoft's Amanda Birnbaum at
 (212) 344-3121, by cell phone at (917) 549-7730, or by email at
 abirnbaum@citysoft.com.
     CitySoft can be accessed on the World Wide Web at www.citysoft.com
 
 SOURCE  CitySoft, Inc.