Tuesday, February 21, 2006

GroupSystems Raises Funding

Broomfield, Colorado-based GroupSystems Corporation said today that it has raised an additional round of venture financing from Slottsbacken Ventures, a Swedish venture capital firm. The developer of decision making software said that it would use the funding to strengthen its European presence. GroupSystems is a spinoff from the University of Arizona, and is also backed by IBM. The firm said that its software is used by Proctor & Gamble, IBM, The Federal Reserve Bank, Glaxo Smith Kline, and other organizations for group meetings and group decision support. Slottsbacken Ventures is a VC firm owned by 6apFond. More information »