Seattle – Application service provider digiMine said it raised $20 million in Series B funding. Mayfield Fund led to the round, which included Cedar Grove Investments, Deutsche Bank Technology Fund, Kellett Investments, Second Avenue Partners, and Silicon Valley Angels. The company will use the funding for enhancing its data center with additional staff and improved infrastructure, research and development, adding new features to its services, and for sales and marketing. The company says it will likely have one additional mezzanine round in 2001. To date the company has raised approximately $25 million.
Source: venture wire