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February 15, 2007 8:00 AM

SeaTab Software raises $3.5 million

Posted by Tricia Duryee

Bellevue-based SeaTab Software, which provides analytical tools for searching a company's sales information, is announcing today that it has raised $3.5 million in venture capital.

Investors include Trident Capital and a number of private individuals.

As part of the funding, Evangelos Simoudis, managing director of Trident Capital. will join the SeaTab Software board of directors.

SeaTab intends to use the new funding to accelerate its sales, marketing and product development efforts. The company will also use some money to repurchase shares previously held by Novell, an early investor in SeaTab.

David Weld is the president and CEO. Formerly, Weld held the positions of CEO at MessageGate and COO of Loudeye.

SeaTab Software was founded in 1998 and has nearly 12,000 customers, including REI, Concur, Zones, CarToys, Wireless Advocates and Novell.

Here is a story about SeaTab back in 2002.

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