Tuesday, February 24, 2009

Topaz Bridge Gets $2M

Bellevue, Washington-based Topaz Bridge, a developer of an application which connects SAP software with Microsoft Office Sharepoint 2007, said this morning it has received $2M in what it described as the first tranche of a Series B funding round. According to Topaz Bridge, it is looking to raise a total of $5M to $10M in the round. Source of the funding was not disclosed. Topaz Bridge said the new funding will go towards expansion, specifically for hiring additional sales, marketing, and engineering staff, along with an expansion to Europe later this year. Topaz Bridge makes software which takes legacy SAP applications and integrates them into Sharepoint, which is a popular portal/intranet software for companies. Topaz had said in January that it was looking for investors in its Series B round.