Arkivio Closes Series B Equity Round with $9.5 Million in Funds; Prepares for Release of Groundbreaking Storage Management Solution with Support from Respected Investors.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--March 18, 2002 Arkivio, an innovator of storage management technology, announced the closing of its Series B equity round, during which the company received $9.5 million in financing from a group of leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . This latest show of confidence from the investment community brings the total amount of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to $12.5 million since the company was formed in December 2000 to solve the challenges in the enterprise storage resource and data management market. The additional capital will enable Arkivio to bring the first release of its groundbreaking storage management technology to the market this year, as well as develop sales and marketing channels and establish customer service operations. "Arkivio's storage management solution will change the face of the current enterprise storage resource management market," said Giovanni Paliska, Arkivio 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. . "Arkivio enables IT managers to gain control of their storage resources and minimize maintenance while reducing storage infrastructure costs. No other storage solution on the market today can realistically meet all these objectives." Arkivio software enables IT administrators to analyze data and storage resource usage patterns to intelligently and seamlessly optimize capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. , accurately forecast growth, and ensure data availability Refers to the degree to which data can be instantly accessed. The term is mostly associated with service levels that are set up either by the internal IT organization or that may be guaranteed by a third party datacenter or storage provider. . Arkivio technology is vendor neutral; operates across heterogeneous storage platforms; and integrates with any existing environment -- whether direct attached, NAS (1) See network access server. (2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular or SAN -- requiring no changes to the storage networking infrastructure. It delivers more efficient use of an enterprise's storage resources, significantly reducing the cost of storage acquisition and administration. This second equity round was led by Voyager Capital, a leading e-business venture capital firm which contributed an investment of $5 million. The Series B round also included investments from Arkivio's Series A investors JAFCO America Ventures and Moore Capital Management Inc. Curtis Feeny, managing director at Voyager Capital, will join Arkivio's board of directors. "We invested in Arkivio because the technology will make a difference in the storage market," said Feeny. "The company has a solid business strategy and is backed by respected industry veterans -- including Wo Overstreet formerly of McData/EMC and CDS fame -- who have successful track records in delivering industry leading storage solutions." "Series B was an up round for Arkivio," added Paliska, "and we are pleased to have Voyager Capital's support and strong endorsement of the Arkivio team, technology and business plan in this challenging economy. Voyager has a proven track record building strong partnerships with successful enterprise software companies, and we are very enthusiastic about working together with them to create value in the storage market and empower companies to take control of their storage resources." About Voyager Capital Voyager Capital is Seattle's leading e-business venture capital firm, providing entrepreneurs with the resources, experience, and connections to build successful companies. Voyager invests in early stage enterprise software and services, Internet infrastructure, and wireless companies. Voyager's managing directors bring experience from a variety of senior management, business development, and venture capital roles. Voyager's advisory board members and investors provide important contacts for e-business startups, and are among the most successful information technology executives and investors in Seattle and Silicon Valley. With $265M under management, Voyager's investments include Amplitude Software (acquired by Critical Path), Avenue A, Inc. (Nasdaq: AVEA AVEA American Veterinary Exhibitors Association ), Captura Software, ClearCommerce, Contivo, NetPodium (acquired by Akamai Technologies Akamai Technologies, Inc. (NASDAQ: AKAM) is a company that provides a distributed computing platform for global Internet content and application delivery, headquartered in Cambridge, Massachusetts. ), Qsent, SeeCommerce, and Tegic Communications (acquired by America Online See AOL. ). Voyager is headquartered in Seattle with an office in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. For more info, visit Voyager's web site at http://www.voyagercapital.com or telephone 206/438-1800. About Moore Capital Management Moore Capital Management is a private, multi-billion dollar investment management firm with 250 employees and offices in 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 , London, Washington DC and Boston. The private equity group of Moore Capital Management invests in growing companies and private equity funds, with specific focus on Information Technology and an emphasis on storage, network infrastructure and enterprise software. Portfolio companies include: Arkivio, Avexus, Bolt, Broadband Storage, Entropia, Infraworks, NuVox Communications, Overture and SAN Valley Systems. About JAFCO Ventures JAFCO Ventures is a leading early stage technology firm that targets the IT industry using a balanced investment strategy Balanced Investment Strategy A portfolio allocation and management method aimed at balancing risk and return. Such portfolios are generally divided equally between equities and fixed-income securities. across both sectors and stages. JAFCO Ventures management team has 150 years of collective private equity investing, entrepreneurial, and IT experience. JAFCO Ventures has incubated such leading communications companies Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. as Avanex and Monterey Networks and has made early stage investments in companies such as Aptis Communications, Brocade Communications, Digital Island, Airgate PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. , and Ocular ocular /oc·u·lar/ (ok´u-lar) 1. of, pertaining to, or affecting the eye. 2. eyepiece. oc·u·lar adj. 1. Of or relating to the eye or the sense of sight. Networks. In the enterprise software sector, JAFCO Ventures has made significant investments in such firms as eDocs, Lightspan Partnership, Net Perceptions, Peakstone, Silknet Software, and Trigo Technologies. JAFCO Ventures manages combined funds of $750 million and has offices in Palo Alto, Calif., and Boston, Mass. JAFCO Ventures was listed as one of the most successful venture capital firms in 1999 by Forbes magazine and again in 2000 by Red Herring Red Herring A preliminary registration statement that must be filed with the SEC describing a new issue of stock (IPO) and the prospects of the issuing company. Notes: based on post-IPO performance. About Arkivio Arkivio, a stealth-mode storage management software company, provides innovative technology for managing information across data and storage networks. Arkivio software delivers more effective and efficient storage resource and data management than prior technologies which rely on extensive involvement from IT personnel. Arkivio solutions are designed to be implemented in customers' existing heterogeneous environments and are agnostic to hardware vendor selection and connection topology. Based in Mountain View, Calif., Arkivio was founded in December 2000 by four storage industry veterans committed to solving the data management challenges facing today's organizations. For more information, visit Arkivio's web site at www.arkivio.com or call 650/237-6100. |
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