Monday, November 19, 2001

Internet

Gomez lands another $3.5M

By Patricia Resende

Gomez Inc., a Waltham-based Web research and ratings company for e-businesses and consumers, has landed $3.5 million in funding.

Gomez, which has a three-pronged business model that includes a consumer site, a subscription service, and Web site and transaction measuring service, plans to use the investment to expand its sales force and distribution partners.

Dolphin Communications Partners of New York, an existing investor, led the round, which included both Softbank Finance and Morningstar Japan.

Gomez, which cut its staff by 25 percent in April and pulled its IPO last October, will also use the funds for the development and distribution of new products and services, said Alex Stein, Gomez's president. Gomez has partnerships and contracts with companies including Akamai Technologies, Fidelity, and J.P. Morgan.

"This latest round of financing is a strong vote of confidence from our investors regarding Gomez's prospects, and will fully fund the business to execute on our plan," said Stein.

Rich Brekka, Dolphin Communications president, said Gomez has a compelling business model and a strong management team that make it "one of the few Internet companies that deserve to be financed in this difficult financial market."