Atreus Systems Secures $17.0 Million in Second Round Funding.Business Editors SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif--(BUSINESS WIRE)--May 23, 2001 SOFTBANK Venture Capital Takes Lead in Funding for Atreus Systems' Broadband Service See broadband and broadband service provider. Creation Software Platform Atreus Systems(TM), Inc., a leader in developing intelligent broadband service creation and delivery platforms for service providers and carriers, today announced they have closed a $17.0 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) Series B round of funding led by SOFTBANK Venture Capital (SBVC SBVC San Bernardino Valley College SBVC Saginaw Bay Visitors Center (Bay City, Michigan) ). Gary Rieschel, executive managing director at SBVC will join Atreus Systems' board of directors. SBVC was joined in this round by existing investors Blueprint Ventures of 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 , and Skypoint Capital of Ottawa, Canada. "In today's market environment, we are pleased SBVC and our other investors have recognized that Atreus Systems' business model and product strategy for helping service providers to quickly create and deliver value-added services as being an attractive investment," said Atreus Co-founder and interim 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. Andrea Baptiste. "SBVC's extensive experience in telecommunications and international markets and the high level of synergy between Atreus and many of their portfolio companies made them a logical choice to lead this round for us. We also look forward to having Gary on the board with his experience in building successful companies in the telecommunications industry as we move into then next stage of growth for the company." "The world-class team at Atreus has developed a unique software solution that clearly addresses the major pain point for carriers of extracting more value from their networks. Atreus achieves this enabling the rapid definition, creation and delivery of applications valued by their customers," said Gary Rieschel, executive managing director at SBVC. "The early acceptance of these products in the market was one of the drivers behind our investment in Atreus. We are excited to have Atreus Systems as one of our portfolio companies." Atreus' Broadband Service Creation Solution Atreus xAuthority(TM), Atreus Systems' 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. , is an intelligent service creation management platform for the delivery of customized, bundled IP based services. It's an open software platform that enables providers to increase revenue per customer and reduce the operational costs of implementing and managing IP-based network, application and content services. When coupled with Atreus xServiceDrivers(TM) the Atreus Service Creation Solution creates the service and network intelligence required to support the delivery of specific services. Unique to the Atreus solution, service drivers, are software plug-in modules that enable providers to rapidly launch a service offering, create service bundles and quickly integrate existing hardware or introduce new network and computing elements needed to support a service offering. These modules further allow the xAuthority to automatically communicate service configuration policies in protocols native to an applicable service delivery point device such as an Internet Appliance Also called "information appliance," "smart appliance," and "Web appliance," it is a device specialized for accessing the Web and/or e-mail. Designed for ease of use, it plugs into a telephone jack or LAN connection for Internet hookup. , IP Service Switch, etc. in order to effect provisioning changes for instantaneous service delivery. And, these services are then accessible to the end user through Atreus xPortal Software(TM), which features a single login point to self-activate services. About SBVC SBVC works with the best entrepreneurs to create the most powerful companies of the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . SBVC has $2.5 billion under its management, over 150 leading Internet companies in its portfolio, and an unparalleled investment team of former CEOs and entrepreneurs, technology pioneers, senior executives from major technology corporations, and leaders from the investment banking community. Companies in its portfolio include Art Technology Group, E*TRADE, Interliant, iPrint.com, Net2Phone, PeoplePC, Preview Systems, Support.com and TeraBeam Networks. For more information, visit http://www.sbvc.com. About Atreus Systems Atreus Systems(TM) is an innovative software technology company developing intelligent broadband service creation and delivery platforms for service providers and carriers. The company's proven software solutions enable service providers and carriers to increase profitability per customer by creating and delivering customized, bundled IP, application and content services over broadband networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. . The Atreus xLINK(TM) product suite leverages the power of xAuthority(TM), a policy-based central management platform, designed to automate dynamic service delivery by addressing the definition, activation, billing, and management of customized, bundled services for businesses and consumers. Atreus Systems, headquartered in Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. , is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. financed by leading telecom 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] SOFTBANK Venture Capital, Blueprint Ventures, and Skypoint Capital. For more information, visit the company's web site at www.atreus-systems.com or call (800) 764-5514. Atreus, the Atreus Systems logo, xAuthority, xLINK, StartSmart, guestLINK, officeLINK, homeLINK, xService Drivers and xPortal are trademarks of Atreus Systems Corporation. All other trademarks are the property of their respective owners. |
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