The Seattle-based company, which has taken in $13.5 million sofar, says it will use the latest financing round to fund ongoingoperations, acquire new customers and further develop itstechnology. Last week, the company said it hopes it can garner newclients by helping companies with asset liquidations brought aboutby the economy's downturn. Also last week, the company announcedthat Scott Laster, founder and CEO, has given way to Walter Boos,who is now CEO and chairman.

Bidpath currently works with more than 30 commercial auctioncompanies with collective annual gross asset sales in excess of$400 million. The company helps sellers market assets through anetwork of 25 online listing websites and business-to-businessexchanges that attract a combined total of 10 million potentialbuyers a month. The online marketing network includes sites such asYahoo! B2B Marketplace,, TraderOnline, GSNet,ComAuctions, WorldBid, and Tradelert.

Bidpath Auction Manager 3.0 automates the auction method ofmarketing, including the collection of inventory images and data inthe field and their direct upload to an online catalog and anexclusive network of business-to-business exchanges and listingsites. Bidpath Live Auction hardware and software enablesauctioneers to broadcast bid and ask prices, and receive and awardonline bids in real time over the Internet. With Bidpath,registered bidders can participate in an online auction directlythrough a common Web browser.

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