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ProcurePoint folds

Mar 1, 2004 12:00 PM

ProcurePoint Travel Solutions, a company focused on online sourcing and procurement of hotel space for corporate meetings and transient travel, has closed. Ed Sarraille, president and CEO of the Sausalito, Calif.-based company, confirmed that ProcurePoint is no longer operating but declined to comment further.

The company had some notable successes in 2003, including closing a $4 million Series A-1 round of financing from Needham Capital Partners and Sequoia Capital in September and partnering with business travel consortium Hickory Travel Systems.

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