The company is a survivor of the dotcom downturn and in spite of massive investment in the past, has been recapitalized with the support of most of the exiting investors. It developed (ASP) software to provide automated organization of meetings, including travel, lodging, etc. The company has an impressive list of fortune 500 customers with significant recurring revenue and plans to achieve break-even next quarter. Amos Barzilay, a partner at Walden International will be leading the round and will take an active position on the board.