Borealis announces the acquisition of Icovia, a leading provider of interactive, online space planning solutions by 20-20 Technologies Inc., the world's largest developer of computer-aided design, business and manufacturing software solutions tailored for the interior design and furniture industries. This strategic acquisition increases 20-20's market share of the increasingly popular world of online design with interactive tools and complements its own suite of 3D web applications called 20-20 Virtual Studio.

The integration of the two technologies from each company has already yielded a new product - Icovia 3D, an interactive 3D space-planning tool, home furnishings retailers and manufacturers can use to extend their physical showrooms virtually and in 3D.

"Icovia is excited about the acquisition because it allows us to rapidly roll out new products and features that will help our customers market their products online," said Steve Street, Chief Executive Officer of Icovia.

"20-20 acquired Icovia both because of its complementary product offering, and its expertise and success marketing technology products to the home furnishings industry. We are extremely pleased to have been able to support the Icovia team as it built its industry leading solutions and are even more pleased to see those solutions and the team become part of a broader platform of technology for the home furnishings industry," said Matt Rightmire, Managing Director at Borealis Ventures.

Borealis is pleased to announce its recent follow-on investment in Avedro Inc., which is developing a minimally-invasive treatment for vision correction based in part on technology licensed from Dartmouth College. Avedro is led by CEO David Muller, who previously pioneered the laser vision correction industry as the founder and CEO of Summit Technology.

"Avedro is another prime example of the opportunity we see to build significant companies upon innovation from research centers like Dartmouth. The market has been looking for a non-incisional alternative to LASIK and Avedro will soon deliver it. We are enthusiastic about the company's significant progress since Borealis provided the first seed funding to spin-out the company and look forward to continuing to support the team as Avedro now takes its technology to market," said Borealis Managing Director and Avedro board member Phil Ferneau.

New investors Prism VentureWorks and De Novo Ventures joined Borealis and existing investor Echelon Ventures in this round.

With temperatures in the single digits and snowflakes still falling the thought of hitting the road on a bike may be far from most of our minds. However, we at Borealis Ventures are already gearing up for the Annual Prouty Century Bike Ride & Challenge Walk. The 2008 Prouty will take place on Saturday, July 12, 2008. Now in its 27th year, the Prouty raises funding for vital research work at Dartmouth Hitchcock Medical Center's renown Norris Cotton Cancer. This past year, Borealis was pleased to provide financial support as a Silver Wheel sponsor, but we also put some (aching) muscle to the effort by fielding Team Borealis, which biked through the beautiful NH and VT landscape to raise additional donations. All told, the 2007 Prouty involved over 3,500 participants and raised over $1.7 million.

We have set a goal for Team Borealis of 50 riders and walkers and $50,000 raised towards the overall Prouty fundraising goal of $2,000,000. We hope that you will join us in this important endeavor. Please reserve July 12, 2008 on your calendar and look for more Prouty info in the months to come.