AlterPoint Secures $7.5 Million in Series C Funding.Network Management Software Provider Expands Executive Team with Addition of April Downing as Chief Financial Officer AUSTIN, Texas -- AlterPoint, Inc., the leader in intelligent Network Change and Configuration Management (NCCM NCCM National Car Care Month (April) NCCM National Catholic Commission on Migration NCCM Negotiating Construction Contract Modifications NCCM National Cancer Center of Malawi ) solutions, today announced that it has completed a $7.5 million Series C financing round from existing investors Austin Ventures, JK&B Capital and Palomar Ventures, bringing the total equity investment to $39 million. AlterPoint plans to use the additional funds to expand its product portfolio and increase its market coverage. "We're excited about the growth AlterPoint has experienced in the last few years," said John Thornton John Thornton is the name of:
tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin their status as a major player in the network management industry." In addition to the new funding, AlterPoint has extended its Austin-based executive team with the addition of April Downing as chief financial officer. Downing joins AlterPoint after six years at broadband management software provider Motive, Inc Motive, Inc. (NASDAQ: MOTV.PK; previously known as Motive Communications) is a software manufacturer founded in May 1997 and headquartered in Austin, Texas. Recent News: Alfred Mockett succeeded founder Scott Harmon as CEO of Motive. ., where she served in various posts, most recently as Chief Accounting Officer and acting CFO See Chief Financial Officer. . As CFO for AlterPoint, Downing will assume responsibility for the financial activities and performance of the company. "We couldn't be happier that April has joined the AlterPoint team. Her talent and skills in both corporate finance and business leadership will be a huge asset as we execute on our growth strategy over the coming years," said Scott Harmon, 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 AlterPoint. "In addition, this round of funding is excellent validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of the confidence our investors have in AlterPoint and the growth potential of the network management market." About AlterPoint, Inc. AlterPoint develops intelligent network change and configuration management (NCCM) solutions that have pioneered the evolution of network management. Companies worldwide rely on the intelligence and automation provided by AlterPoint's award-winning product, DeviceAuthority, to proactively manage configuration, change, compliance and security across their multi-vendor network to maximize the performance and availability of their IT infrastructure. Founded in 2001, AlterPoint is headquartered in Austin, Texas, with offices in Europe and Asia. For more information, please visit www.alterpoint.com. About Austin Ventures Austin Ventures has been working with talented entrepreneurs to build valuable companies since 1979. With $3 billion under management, AV is the most active venture capital firm in Texas, and one of the most established in the nation. With a focus on business services, information services See Information Systems. , computer and communications hardware, and enterprise software, Austin Ventures invests at all stages of company development, from $100,000 "planned experiments" to $50+ million investments in management buyouts Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. . About JK&B Capital JK&B Capital is a venture capital firm focused in the software, IT and communications markets with over $1 billion of capital under management. Founded in 1996, 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. About Palomar Ventures Palomar Ventures is a leading venture capital firm with offices in northern and southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and over $525 million under management. The company focuses on early-stage information technology companies that demonstrate the potential for exceptional growth and market leadership. [c] 2001-2006 AlterPoint, Incorporated. All Rights Reserved. AlterPoint, DeviceAuthority, and their respective logos are trademarks of AlterPoint, Inc. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other jurisdictions. All other company or product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies. |
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