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2 LI companies get venture capital funds

Two Long Island companies received venture-capital funding totaling $2.1 million in the first quarter, extending the area's recent success in obtaining such funds, according to a new report.

Certpoint Systems Inc., a Roslyn Heights software developer, obtained $1.6 million, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association. A Southampton company called innRoad Inc., which specializes in Web-based hotel-management services, received $550,000.

The quarter was the fifth in a row that Long Island has received venture capital funding.

Certpoint plans to invest the money in sales and marketing, including hiring about 10 more employees, said Ara Ohanian, whose business card identifies him as the president and chief happiness officer. The company has 100 employees, 50 of them on Long Island, Ohanian said.

The 16-year old company has 1,000 customers, including 300 worldwide. Certpoint specializes in software for packaging and distributing business training content on mobile devices and the Internet. It publishes software in 45 languages, Ohanian said.

"We are truly global," he said. Its clients include Toyota, Weight Watchers, Motorola and L'Oreal.

Executives at innRoad couldn't be reached for comment.

The take from venture capital firms is up slightly from the $2 million invested on Long Island in the first quarter of 2011. But it's considerably less than the $18.7 million invested in the fourth quarter of 2011 and the $22.5 million in the third quarter.


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