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Comet Systems secures $20 million in funding

Published on .

Comet Systems, which makes branded cursors for use as marketing tools, July 10 will announce it has secured $20 million in a third round of financing. Lead investor idealab Capital Partners, idealab's venture capital arm, contributed $16 million--the biggest single-company investment the VC financier has made to date.

The Comet Cursor allows replacement of an arrow computer cursor with an animated or graphic icon. Director of Marketing Ben Austin said Comet Systems will use the money to develop a new line of cursors, due this fall, that will add hyperlinks to Web pages. AT&T WorldNet Comedy Central Universal Studios Online, Warner Bros. and Yahoo! are among companies that have licensed the Comet Cursor technology. The cursor is available for download at marketers' sites and at cometzone.com.

Copyright July 2000, Crain Communications Inc.

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