BtoB

Line56 secures second-round of funding

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Los Angeles--Line 56, an e-business magazine, conference and Internet media company, announced Friday it has closed its second-round funding of $5 million. An investor group of b-to-b media professionals leads the funding round; members of the group will take active roles at the company. Previously, Line56 announced a $2 million commitment from Francois Bitz, a former Carnegie Mellon University professor and founder of Fore Systems Inc., as the initial stage of its second round. Line56's current corporate management team will remain in place. The company said Line56's controlled circulation has been growing at a rate of close to 10,000 per month. It also named Lester Craft, formerly editor in chief of eCommerce Business, as its new editor in chief, succeeding Adrian Mello
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