Web applications provider Visto Corp has announced the completion of a $7m tranche of funding that includes investments from Compaq Computer Corp and Network Associates Inc. The Mountain View, California-based company offers users free personal applications including e-mail, calendars, address books, task lists, photo albums and file storage and says it will use a significant portion of the funds for expanded marketing and branding campaigns.
The amounts that Compaq and Network Associates each invested were not disclosed. The new cash infusion follows a $24m round of equity financing the company completed in June and brings the total for the round to $31m. Visto claims it service is also geared towards small and medium businesses and is the underlying architecture for Compaq’s online service. In addition to the Compaq connection, the company has partnerships with theglobe.com, Network Associates’ recently-launched mcafee.com and Hewlett-Packard Co.
