NEW YORK Business.com said it has received $6.5 million of additional venture funding, marking the second capital infusion for the business-to-business search engine in four months.
Institutional Venture Partners in Menlo Park, Calif., which invested in search engines Ask Jeeves and Excite, made the investment. As part of the investment, Steve Harrick, a partner at IVP, will join Business.com's board of directors.
The funding follows $10 million invested in Business.com in November by Benchmark Capital. Business.com has raised over $75 million since its launch in 1999, when it made waves by paying $7.5 million for its domain name. In 2001, the company refocused itself as a business-to-business search engine from its original incarnation as a business portal. Like Google and Yahoo's Overture Services, it allows businesses to display text ads next to search results.
Business.com in Santa Monica, Calif., competes with business search engines like ThomasB2B.com and search giants like Google. Jupiter Research said in a new report that it expects the search market will develop like television and print, with both mass-market options and niche properties.