BuildOnline backers left nursing losses

Early investors in BuildOnline, a Dublin online firm that had raised more than €40 million in funding, are nursing losses after the firm merged with a US company.

26th May, 2007

Early investors in BuildOnline, a Dublin online firm that had raised more than €40 million in funding, are nursing losses after the firm merged with a US company.

BuildOnline has merged with Citadon, a San Francisco company, to form a new company called CTSpace.

The enlarged company has raised $5.3 million (€3.9 million) in new funding from two American funders, Insight Venture Partners and GRP Partners.

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