What V Cs Really Want
While your story on the increasing challenges of obtaining venture-capital funding was accurate overall ("Public Access Denied," Trends, May 22), I believe it may have misrepresented Uniscape's funding situation. In fact, at the time of the interview, we had several funding alternatives and recently closed a $10 million third round with Sequoia Capital. The point we were trying to make was that while VCs are more cautious and conducting more research than ever, their increased diligence is leading them to fund companies, such as Uniscape, that have solid business plans, leading technology, and dozens of happy customers.
Redwood Shores, Calif.