E-Procurement Operation Picks Up $10 Million More in Backing

AUSTIN-High-tech funding goes to Austin-based Sitestuff.com, which has picked up $40 million in backing just this week. The operation is a services procurement agent that is successfully courting Texas' commercial real estate sector.

By Mike Sheridan | Updated on August 03, 2000

Sitestuff.com Inc. continues to make inroads into the commercial real estate market, picking up additional second round funding this week.

The Austin-based company said this week it has closed on $40 million in financing, including $30 million from an alliance of CB Richard Ellis, Jones Lang LaSalle and Trammell Crow. The trio has agreed to make SiteStuff.com their primary Web-based procurement partner.

Another $5 million came from Sevin Rosen Funds and Centerpoint Ventures. Sitestuff.com secured the balance through debt financing from leading high-tech lenders, Imperial Bank and Comdisco Inc.

Also on board with SiteStuff are Dallas-based The Staubach Co.’s property operations unit and Western National Property Management and Irvine Apartment Management Co., both in Orange County, CA.

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