Cincinnati, Ohio-based Transactiv has announced that it has secured $1.2 million in financing from Blue Chip Venture Capital, CincyTech, Neyer Holdings, Queen City Angels and a number of private investors.
What it hasn’t announced yet, however, is what it’s actually building. So what do we know?
According to the release, the capital will be used to fund the company’s development of its “next-generation commerce platform, intellectual property portfolio, and technology leadership”. The boiler plate doesn’t reveal much either, mentioning only in passing that the startup’s technology aims to “enable online commerce for businesses of all sizes”.
The platform is slated for launch in 2010.
Transactiv was co-founded by Karl Perron, acting as the startup’s President and CEO, whose LinkedIn profile reveals that he filled a number of senior executive positions at SAP before moving on to head OutPerformance back in August 2007. OutPerformance was a provider of enterprise profit optimization solutions to the manufacturing industry whose assets were acquired by S&OP Solutions in January 2009.
Hopefully for Perron and the rest of the team, the startup will fare better than the late Transactiv, a venture-backed company that offered a B2B eCommerce solution but apparently went out of business without making any type of splash.