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ACQUIRED COMPANY
 
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Xign  Acquired by JPMorgan Chase (2007  amount undisclosed )

7077 Koll Center Parkway
Pleasanton, CA 94566
USA
(925)-469-9446
Website Company Summary Management Team
Management

Sales/Marketing: George Fan; Jim Lucier
Customer Service: Allen Nordgren
Not listed on the website: (May no longer be at the company) Kristina Vorheis*
Board

Outside board: (May no longer be on the board) Robert MacColl (MasterCard International) James Hale (Financial Technology Ventures) Bob Lisbonne (Matrix Partners Partner) Robert Nally (RDM Corporation CTO & COO)
Company

Business description: Xign is a leading provider of ePayables solutions that automate the financial settlement of business-to-business commerce. Xign offers the first complete electronic invoice and payment service that streamlines accounts payable processing via the Internet. With Xign, Global 2000 enterprises can reduce payable processing costs and cycle times, cut working capital costs and strengthen supplier relationships. Xign helps thousands of enterprises automate their financial settlement processes. The Xign Payment Services Network (XPSN) is the first complete electronic invoice and payment service to fully streamline accounts payable processing via the Internet. Thousands of organizations in utilities, telecommunications, retail, pharmaceuticals, media, manufacturing, government and healthcare sectors use Xign to reduce financial settlement costs, strengthen trading relationships, and better manage cash. Xign products are marketed through a direct sales force or indirectly via partnerships with industry leaders MasterCard International and Pantellos Group.
Customers include: Bristol-Myers SquibbCharles SchwabFirstEnergyMasterCardMetLifeSONYSprintT-Mobile;  Armstrong Worldwide Industries;  Charter One Bank;  Cinergy;  Laidlaw Education Services ;  Memorial Sloan-Kettering Cancer Center;  Pacific GasAndElectric;  Payless Shoesource;  Purdue Pharma;  Randstad;  Randstad North America;  Sentara Healthcare ;  Shaw's Supermarkets;  Southern Company;  The Williams Companies;  Tribune;  VoiceStream
Partners include: CerticomCommerce OneEntrustOpswarePeopleSoftVerizon;  Comdata ;  EFG;  JPMorgan Treasury Services;  SciQuest ;  Sony Music USA
Capital

Rounds: 2
Recent Fundings:    Nov 2001
Capital raised: 34.3M
Ownership: Acquired by JPMorgan Chase (2007  amount undisclosed )
VCs include: CRVMatrix PartnersFTV Capital
Angels/other VCs: Charles Schwab (Charles Schwab)
Corporate investors: MasterCard International;  RDM Corp

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Last Mentions


Overview
Record updated: Apr 2007
Sector: Internet
Year Founded: 2000
Headcount: 26-50 as of Aug 2004
Rounds: 2
Recent Fundings:    Nov 2001
Capital Raised: 34.3M
Ownership: Acquired by JPMorgan Chase (2007  amount undisclosed )