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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Nexgenix Receives $15-Million Infusion

August 25, 2000|Robin Fields

Irvine consulting firm Nexgenix Inc. said Thursday it had received a second round of private funding, adding $15 million to its coffers.

Founded in 1990, Nexgenix helps clients develop Web sites and design strategies to keep online visitors coming to them. Its customers include CBS Sportsline, H&R Block, iMotors, Lucent Technologies Inc. and Rooms to Go. The company expects revenue of more than $50 million this year, a spokesman said.

Earlier in the year, the company planned to raise almost $60 million in an initial public stock offering but changed course in May, withdrawing its registration with the Securities and Exchange Commission.

The round of financing announced Thursday comes principally from Meritech Capital Partners, a $1.1-billion venture fund, and Gemini Investors LLC, which manages $300 million. Nexgenix received $20 million last year from Redpoint Ventures, one of the firms behind Meritech.

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