Siebel lets stand alone

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San Mateo, Calif.--Siebel Systems, San Mateo, Calif., said Thursday it has officially spun off its wholly owned subsidiary The new venture has raised $27 million in funding from a group led by Siebel, Sequoia Capital and U.S. Venture Partners. The move is significant because is one of a handful of Internet portals, including competitors and the Internet start-up, aimed at an estimated 42 million sales professionals. As a separate company from Siebel, whose bread and butter is selling software to corporate sales departments, could escalate competition in the sector through aggressive marketing and the introduction of new services.
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