Yipes Adds $9.5 Million in New Series A Funding

Yipes Enterprise Services raised an additional $9.5 million to close its Series A equity investment, totaling $63.5 million. The additional capital will be used to serve new and current customers as well as for further expansion into Yipes’ existing markets. Yipes expects to reach profitability in 2004. Current markets include: New York, Philadelphia, Washington DC, Chicago, Dallas, Houston, Denver, Seattle, San Francisco and San Diego. Yipes reported it also added 90 buildings to its national network footprint over the past year, bringing the total to 474 buildings in service. Yipes Series A investors include: Norwest Venture Partners, Sprout Group/CFSB, New Enterprise Associates, JP Morgan/Chase, Soros Private Equity Partners, Focus Ventures and Glynn Ventures.

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