Avaki Closes $4.2 Million Financing; Investments From Polaris, General Catalyst and Sofinnova Bring Avaki's Total Funding to Over $20 Million.Business Editors and High-Tech Writers BURLINGTON, Mass.--(BUSINESS WIRE)--Feb. 4, 2003 Avaki Corporation (www.avaki.com), a leader in commercial grid software solutions, today announced that it has raised $4.2 million in an extension to its series A financing. Investments from Polaris Venture Partners, General Catalyst Partners and Sofinnova Partners bring Avaki's total funding to over $20 million. The company will use proceeds from the financing to continue market expansion efforts by enabling enterprises across a variety of industries - including life sciences, manufacturing, oil and gas, and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. - to transparently access and utilize IT resources distributed across geographic and even corporate boundaries. Avaki grid software provides end users with wide-area access to data, compute power, and applications. Avaki Data Grid  The introduction to this article is vague. To comply with Wikipedia's guidelines, it should be improved. 3.0, released last month, creates a federated Connected and treated as one. See federated database and federated directories. data service which enables the secure, transparent sharing of data among widely distributed Adj. 1. widely distributed - growing or occurring in many parts of the world; "a cosmopolitan herb"; "cosmopolitan in distribution"cosmopolitan bionomics, environmental science, ecology - the branch of biology concerned with the relations between organisms users and applications within and between organizations. With Avaki Data Grid, companies eliminate costly organizational and technical barriers to data sharing The ability to share the same data resource with multiple applications or users. It implies that the data are stored in one or more servers in the network and that there is some software locking mechanism that prevents the same set of data from being changed by two people at the same time. , while creating a flexible, J2EE-based access infrastructure that installs quickly and easily and scales to meet business requirements. About Avaki Avaki Corporation offers the first commercial grid software solution to address critical data access challenges facing today's enterprise. Avaki's software products federate fed·er·ate v. fed·er·at·ed, fed·er·at·ing, fed·er·ates v.tr. To cause to join into a league, federal union, or similar association. v.intr. To become united into a federal union. IT resources across departments and locations, enabling users and applications to access distributed data and processing power as if they were local. Using these products, companies gain dramatic productivity improvements while reducing IT cost and complexity. Unlike other distributed computing solutions, Avaki's products provide breakthrough data access capabilities, alone or in combination with Avaki's proven compute grid capabilities. Customers such as Pfizer, Gene Logic, Infinity Pharmaceuticals, the North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. Bioinformatics Grid project, Structural Bioinformatics and Texas Tech are using Avaki software to reduce and control IT costs, improve efficiency of multi-site or inter-company collaboration, and accelerate product development. Backed by Polaris Venture Partners, General Catalyst, and Sofinnova, Avaki is located in Burlington, Mass. For more information, please visit www.avaki.com. About Polaris Venture Partners With over $2 billion under management, Polaris Venture Partners is a partnership of experienced venture capital investors and technology executives. Polaris assists entrepreneurs in building exceptional information technology and life sciences companies. Polaris-backed companies include: Akamai Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AKAM AKAM Akamai Technologies, Inc. (stock abbreviation) AKAM Automated Key Access Machine ); Allaire Corporation; Aspect Medical Systems (NASDAQ: ASPM ASPM Abnormal Spindle-Like Microcephaly Associated ASPM Asociación del Secretariado Profesional de Madrid (Spanish: Association of the Professional Secretaryship of Madrid) ASPM Armed Services Procurement Regulation Manual ); Centra Software (NASDAQ: CTRA CTRA Canadian Therapeutic Recreation Association CTRA College Terrace Residents' Association CTRA Canadian Telecommunications Resellers Alliance CTRA Committee To Restore America ); deCODE Genetics (NASDAQ: DCGN); Paradigm Genetics (NASDAQ: PDGM). Former Polaris-backed companies have included: Advanced Inhalation Research (AIR) (sold to Alkermes), and Solidworks (sold to Dassault Systemes). The company has offices in Boston and Seattle. More information about Polaris Venture Partners is available at www.polarisventures.com. About General Catalyst Partners Founded in 2000 and headquartered in Cambridge, Mass., General Catalyst Partners is the private equity partner for entrepreneurs, early-stage companies and transformational companies that seek to build innovative software and technology platforms into industry-leading companies. By leveraging its principals' deep operational expertise, General Catalyst helps portfolio companies improve their likelihood of success through business building and partnership development assistance. Current portfolio companies include: Avaki Corporation (www.avaki.com); IMlogic (www.imlogic.com); Imprivata (www.imprivata.com); Laszlo Systems (www.laszlosystems.com); m-Qube (www.m-qube.com); Narad Networks (www.naradnetworks.com); National Leisure Group (www.nlg.com); OutStart (www.outstart.com); ProfitLogic (www.profitlogic.com); Recruitsoft (www.recruitsoft.com); SmartBargains (www.smartbargains.com); and Upromise (www.upromise.com). For more information, please visit http://www.generalcatalyst.com. About Sofinnova Partners Based in Paris since 1972, Sofinnova Partners is a leading European venture capital firm dedicated to investing in start-up and early stage companies in two specific sectors: information technologies and life sciences. The company is managed by nine general partners and partners, and has close to EUR EUR In currencies, this is the abbreviation for the Euro. 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. 500M of funds under management. Its most recent fund, Sofinnova Capital IV, was raised in March 2001 at EUR 330M. In the past five years, Sofinnova Partners made over 60 investments, mostly as lead investor. In the IT sector, Sofinnova Partners invests primarily in microelectronics, networking technologies, software and wireless applications. Sofinnova Partners has been a lead or co-lead investor in companies such as Nomade, Multimania, Egide, BVRP BVRP Bibliotheque Virtuelle Rene Pechere and T-Sqware. Some recent investments include: Esmertec (Switzerland), Tak'Asic (France), Intransa (US), Volubill (France), Avaki (US). For more information: www.sofinnova.fr |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion