$8 Million from JK&B Capital and Hummer Winblad Venture Partners Fuels CITTIO's Explosive Growth; 30-year Industry Veteran Marc Sokol Joins CITTIO Board of Directors.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Please replace the release dated March 29, 2006 with the following corrected version due to multiple revisions.
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$8 MILLION FROM JK&B CAPITAL AND HUMMER WINBLAD VENTURE PARTNERS FUELS CITTIO'S EXPLOSIVE GROWTH
30-year Industry Veteran Marc Sokol Joins CITTIO Board of Directors
CITTIO Inc., the award-winning innovation leader in network monitoring The term network monitoring describes the use of a system that constantly monitors a computer network for slow or failing systems and that notifies the network administrator in case of outages via email, pager or other alarms. and operations software, today announced completion of an $8 million round of funding, bringing the company's total funding to date to $11.5 million. This round was led by JK&B Capital, and also included an additional investment from Hummer Winblad Venture Partners. This new funding will fuel the company's meteoric me·te·or·ic
1. Of, relating to, or formed by a meteoroid.
2. Of or relating to the earth's atmosphere.
3. growth, which is characterized by a 500 percent increase in license sales and the acquisition of more than 100 corporate and service provider customers in the last 12 months alone.
Additionally, the company announced that technology industry veteran Marc Sokol of JK&B Capital will join the company's board of directors.
The market for systems monitoring and management software is significant -- larger than $7 billion worldwide -- and crowded with network monitoring and management solutions that are either expensive and complex or affordable but under-powered. CITTIO delivers a robust, cost-effective, easy-to-use alternative for large and mid-sized operations. Designed by data center managers and networking professionals, its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. WatchTower helps companies increase datacenter productivity, manage distributed systems Distributed systems (computers)
A distributed system consists of a collection of autonomous computers linked by a computer network and equipped with distributed system software. , reduce downtime, and generate business value from the network. WatchTower also empowers managed service providers -- whose margins from selling "boxes" are steadily shrinking -- to create healthy incremental revenue from monitoring their customers' networks.
"JK&B invested in CITTIO, because this company has a real opportunity to lead a multi-billion dollar industry," said Sokol. "WatchTower is a purpose-built product that is a natural fit with today's fast-changing, multi-vendor, multi-device IP infrastructures. The beauty of it is that IT no longer needs to budget for high-effort, high-cost integration efforts simply to install network monitoring and management software. WatchTower installs quickly, and organizations of all types realize ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). and business value almost immediately."
"We're honored with the on-going support of Hummer Winblad, and also excited to work with Marc Sokol, who understands the challenges enterprise network managers face and who has real-life experience as an entrepreneur and executive," said Jamie Lerner, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CITTIO. "Marc knows that innovation in network monitoring and management is not on the radar screen at the largest network management providers; these companies can only make incremental improvements to their products because their installed base is too heavily invested in their solutions to embrace a drastic shift in product approach. Marc's expertise adds value to our continuing efforts to fine-tune WatchTower to a fast-paced marketplace."
About Marc Sokol
Sokol has more than 30 years of experience in the enterprise software industry. Prior to joining JK&B in 2000, Sokol was senior vice president and general manager, global marketing at Computer Associates International, Inc. (CA) where he also served as senior vice president of business development and senior vice president of advanced technology. Before holding these positions, he managed a number of engineering development projects at CA.
Earlier, Sokol co-founded Realia, Inc., which he sold in 1991, to Pansophic Systems, Inc., which was later acquired by CA. At the beginning of his career, he was a software developer at NASA's Goddard Space Flight Center The Goddard Space Flight Center (GSFC) is a major NASA space research laboratory established on May 1, 1959 as NASA's first space flight center. GSFC employs approximately 10,000 civil servants and contractors, and is located approximately 6.5 miles northeast of Washington, D.C. .
Sokol is on the Board of Directors of AppStream, XOsoft, Cranite Systems, ClearPoint Metrics, Vormetric, Scalent Systems, AlterPoint, CounterStorm, and Splunk and is widely recognized as an authority on Internet and infrastructure technologies. He has testified before the U.S. Congress on Y2K See Y2K problem and Y2K compliant.
Y2K - Year 2000 computer challenges, and addressed the United Nations on managing global computing infrastructures. He also has spoken frequently at seminars for chief information officers.
About JK&B Capital
Founded in 1996, JK&B Capital is a venture capital firm focused in the software, IT, and communications markets with more than $900 million of capital under management. JK&B has built a track record of generating exceptional returns for investors by identifying and investing in companies with technologies which have been critical to the growth of the world's information economy. A key to JK&B's success has been its ability to leverage its substantial technology domain expertise to identify, analyze, and access the most promising emerging technologies and the companies behind them. JK&B then provides these companies with financial support, strategic guidance and most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent"
above all, most especially technical guidance to help them grow and prosper. For more information, see www.jkbcapital.com.
About Hummer Winblad Venture Partners
Hummer Winblad Venture Partners was created in 1989 as the first venture capital firm focused exclusively on software. As the software industry grew from PC software to enterprise computing Refers to information technology in the larger company. See enterprise data and enterprise networking. to Internet applications, Hummer Winblad has been at the forefront -- funding the entrepreneurs and ideas that helped define these markets. The firm's goal is to provide the capital, experience, and vision that will enable its companies to become leaders in this new software economy. For more information on Hummer Winblad, visit www.humwin.com.
About CITTIO, Inc.
CITTIO, Inc. is the award-winning innovation leader in network monitoring and operations software. Based on a 100 percent Java architecture, only WatchTower delivers a fully bundled software (1) Applications that are included with new hardware. For example, a new PC often comes with several applications, many of which may be light versions or full versions with no limit on usage. Others may be only 60- or 90-day trial packages. See bundle. solution, including a Web server, an embedded database (1) Database software that is included with an application rather than offered as a separate database management system (see DBMS). Tending to be compact and efficient, an embedded database generally includes fewer features than a full-blown DBMS. , and a management portal, providing complete functionality for operating a network data center. The unique monitoring capabilities of WatchTower, coupled with powerful automation technology, provide IT managers and network technicians alike with a simple and complete solution for datacenter management. CITTIO's customers include industry-leading companies such as Blue Cross/Blue Shield of Hawaii, Capitol Advantage Capitol Advantage is a technology and publishing firm based in Fairfax, VA. The company is the largest publisher of Congressional directories in the country as well as the market leader in software for online advocacy, having over 1,700 clients. , DemandTec, Five Mile Capital, National Parks Conservation Association The National Parks Conservation Association (NPCA) is the only environmental organization devoted exclusively to advocacy on behalf of the National Parks. Its mission is "to protect and enhance America's National Park System for present and future generations. , Pacific Sunwear Pacific Sunwear (also known as PacSun) is a shopping mall retail store that sells surfing and skateboarding clothing and accessories for teenagers and young adults. It was originally based in Newport Beach, California, United States. , and The Gymboree Corporation. For more information, please visit the CITTIO Web site www.cittio.com.
Editor's Note: All CITTIO brand and product names are trademarks or registered trademarks of CITTIO, Inc., in the United States and other countries. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.