Jerusalem Venture Partners invests $3.5m in XMPiE - TheStreet

Jerusalem Venture Partners

today announced a $3.5 million investment in

Scitex Corporation

(Nasdaq:SCIX) spinoff

XMPiE

.

XMPiE develops software solutions to create graphically rich personalized messages for tasks such as marketing and customer relations. Its technology includes tools to define and design personalized documents and addresses the logistical and technical problems of implementing "one-to-one marketing campaigns" across multiple media, such as print, email, and Internet. The company says that its solution enables marketers to adjust to changing market conditions quickly and cheaply.

"XMPiE's technology expands the ability of corporations to leverage their customer-relations management systems in order to interact personally with customers via every possible channel," says JVP managing partner Yuval Cohen. "The decision to invest in XMPie is based on the fact that the company's market is huge and growing every year, and it needs XMPie's solutions to carry out massive direct-mail campaigns that can be adjusted quickly and efficiently to the market's reactions."

JVP is the startup's first external investor. So far the company raised its working capital from its founders and Scitex.

XMPiE says it is about to begin pilot tests of its first product. The company also says it has earmarked the proceeds of its financing round for completion of product development, to implement field trials, and for the establishment of marketing, distribution and support operations, initially in the United States.

Company CEO Jacob Aizikowitz led Scitex's digital print and personalization efforts, and was one of the founders of Electronics for Imaging (Nasdaq:EFII). The founders are Israel Roth, previously the manager of Scitex's post-print department, and Reuven Sherwin, who led the personal applications at Scitex.

XMPiE, which was founded in July 2000, employs all of 10 people. The startup maintains headquarters in the United States and an R&D center in the Poleg Technology Park of Netanya.