AppGenesys Secures $50 Million From Powerhouse Investor Coalition; eInfrastructure Management Service Provider Presents Veteran Management Team.Business Editors SAN JOSE--(BUSINESS WIRE)--May 30, 2000 AppGenesys, a provider of eInfrastructure platforms and management services for global Internet businesses, today announced that it has lined up $50 million dollars in first-round financing from Chase Capital Partners, DynaFund Ventures, Flatiron Partners, Inktomi Corporation For the Lakota spider-trickster god, see . Inktomi Corporation was a California company that provided software for Internet Service Providers, which was founded in 1996 by UC Berkeley professor Eric Brewer and graduate student Paul Gauthier. , Intel Capital, iXL Ventures, Kelso & Company, NeoCarta Ventures and Softbank Venture Capital. AppGenesys develops standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. infrastructure platforms that enable Fortune-class enterprises to operate transaction-based businesses on the Internet. The AppGenesys platform merges the most widely used hardware, software and middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a applications into a single management package that consists of systems testing, monitoring and hosting services. "As global enterprises embrace the Internet as the 21st century business medium, infrastructure needs have become increasingly complex and difficult to keep up with," said Benjamin Chen, chairman and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. of AppGenesys. "Our impressive roster of investors has made a huge bet that the AppGenesys platform and management package is the answer that Fortune 1000 CIOs have been seeking." On the heels of this investment, AppGenesys has installed a mature management team of IT visionaries with execution acumen acumen Astuteness, perception, perspicacity , who bring to the company a wealth of experience in infrastructure and Web application development. Prior to AppGenesys, Chen served as the CTO of iXL as it became one of the pioneering developers of digital business. Chen co-founded AppGenesys with Mark Swanson, who is acting 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 the company. Like Chen, Swanson also played a key role in the emergence of iXL, where he preceded Chen as CTO and then was general manager of its 350-person New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of operation. Chen and Swanson are joined on the management team by: -- Chuck Copin; executive VP, marketing and sales. Copin was an instrumental force in building AGENCY.COM'S western region and brings a 20-year marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales background to the team. -- Michael Schwartz; senior VP, operations. Schwartz joins the team from iXL, where he played a key role in developing the company's managed network services unit and brings 25 years of operational management experience to AppGenesys. -- Gregory Lewis; CFO See Chief Financial Officer. and VP, mergers and acquisitions. Lewis is a veteran in Internet start-up finance. He has negotiated numerous complex strategic alliances and several joint merchandising ventures. In addition, he has overseen over 50 mergers and acquisitions, private equity placements and IPOs while with the investment banking firm Wertheim Schroeder & Co. About AppGenesys AppGenesys, an eInfrastructure management services provider, focuses on the complex process of staging, systems testing and deploying Web initiatives for Fortune-class clients. The company offers a scaleable suite of standardized hardware and software management solutions that accelerate implementation and improve site performance. AppGenesys manages clients' Internet infrastructure operations through a global framework. Headquartered in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., AppGenesys was spun-out of iXL Ventures' managed network services business with $50 million in funding from a dynamic investor coalition comprising Chase Capital Partners, DynaFund Ventures, Flatiron Partners, Inktomi Corporation, Kelso & Company, NeoCarta Ventures and Softbank Venture Capital. |
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