Breakthrough Broadband Service Management Technology Attracts Industry-Leading Venture Financing for CoManage.Business Editors & High Tech Writers PITTSBURGH--(BUSINESS WIRE)--Oct. 23, 2000 Highland Capital, Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Lead $36 Million Financing to Support CoManage's Customer-Aware Telecom Service Management Solution CoManage Corporation, the leading supplier of award-winning Customer-Aware(TM) service management systems for network service providers, today announced it has secured a $36 million round of venture financing, among the largest ever in the telecommunications Operations Support System (OSS Oss (ôs), city (1994 pop. 62,141), North Brabant prov., S Netherlands; chartered 1399. It is a significant industrial center. Manufactures include meat products, chemicals, pharmaceuticals, electrical equipment, and metalware. ) space. Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices located in Boston, Silicon Valley, Geneva, and Shanghai. Since its inception in 1988, the firm has invested in more than 180 early and growth stage companies and taken a sector-focused approach to investing in and The Goldman Sachs Group, Inc., led this third round of funding, which also included current investors Adams Capital Management, Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. , Birchmere Investments, Columbia Capital, Lucent Venture Partners and Patricof & Company Ventures. The financing will be used to accelerate development and sales of CoManage's award-winning Integrated Service Manager(TM) (ISM See ISM band. ), the industry's first Customer-Aware service management system for service providers delivering next-generation broadband services such as DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , Voice over DSL, IP, Asynchronous Transfer Mode See ATM. (communications) Asynchronous Transfer Mode - (ATM, or "fast packet") A method for the dynamic allocation of bandwidth using a fixed-size packet (called a cell). See also ATM Forum, Wideband ATM. ATM acronyms. Indiana acronyms. (ATM) and virtual private networks (VPNs). CoManage's service management system dramatically simplifies and speeds creation and management of next-generation voice and data services. The software system is the first in the industry to feature groundbreaking technology enabling service providers to see and manage individual customer connections better than ever before. "With its innovative technology and impressive team, CoManage is revolutionizing how telecom and data carriers provision and manage their service offerings," said Martin Mengwall of Highland. "CoManage's Customer-Aware service management solution is already allowing a growing list of leading service providers to enhance their customer focus." The new round brings CoManage's total funding to $57 million and represents one of the largest ever in the OSS space, which includes developers of network management systems, element managers and accompanying support products focused on carrier network operations. Founded in 1998, CoManage has recruited a world-class software development and management team to its Pittsburgh-based headquarters from technology industry leaders such as Cisco, Hewlett-Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Lycos, Marconi, Microsoft and Nortel. "CoManage has the vision and expertise to address the most critical issues facing next-generation service providers as they seek to fill rising demand for telecom and data services," said John Kiang kiang: see ass. of Goldman Sachs. "With its customer-centric solutions, the company is positioned to capture a leadership role in the emerging service management market." "We are thrilled to have the support of leading firms like Highland Capital and Goldman Sachs and our current investors," said Dave Nelsen, co-founder and 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 CoManage. "This capital and additional expertise will help us change the face of service management and enable network service providers to deliver superior services to their end-user customers." About CoManage's Integrated Service Manager CoManage's award-winning solution has been selected by leading telecom and data carriers to support advanced service offerings. ISM is the industry's first product to combine four key network management functions -- discovery, provisioning, fault management and performance monitoring -- into a single software application. The system then creates Customer-Awareness by embedding information about customers and services into these functions. This breakthrough yields unprecedented end-to-end control and visibility of customer services. In addition, service providers can use the Customer-Aware system to offer their customers self-provisioning and self-monitoring capabilities. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. telecom analyst Michael Howard
ISM's innovations make completely new things possible. For example, with CoManage's system, a service provider can look at how network operation is affecting all connections and services for any given customer, effectively gaining the customer's perspective on network performance. Or a service provider can sell customized service level agreements (SLAs) to individual customers and automatically monitor performance for each unique agreement, without special hardware. With these important new capabilities, ISM enables service providers to increase revenue, reduce operations costs and dramatically improve customer satisfaction. At its launch in June, ISM won the top award for new telecom management software at SUPERCOMM, the largest annual trade show for next-generation telecom networking technologies. About Highland Capital Highland Capital Partners, founded in 1988, is a leading venture capital firm focused on building companies in the information technology, communications and medical markets. With over $1 billion under management, Highland has invested in and worked to create such firms as Altiga Networks, ANDA ANDA abbr. abbreviated new drug application Networks, Ask Jeeves Noun 1. Ask Jeeves - a widely used search engine accepting plain English questions or phrases or terms trademark - a formally registered symbol identifying the manufacturer or distributor of a product , Be Free, CheckFree, ChemConnect, COLO Colo Colorado (old style state abbreviation) COLO Columbus, Ohio COLO Co-Location COLO Colonial National Historic Park (US National Park Service) COLO Cost Of Living Option .com, eToys, Evoke Communications, LivePerson, Lycos, Mainspring, MapQuest, Medscape, Mercata, NextCard, Ocular Networks, Staples.com, Telcobuy.com, Telica, WebLine Communications and Wit Capital. For additional information, visit the company's web site at www.hcp.com. About Goldman Sachs Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The Firm is headquartered 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 and maintains offices in London, Frankfurt, Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other major financial centers around the world. About CoManage CoManage Corporation (www.comanage.net) is the leading supplier of Customer-Aware service management systems for service providers offering packet- and cell-based telecom and data services. With CoManage's award-winning solution, service providers can conduct Customer-Aware Service Management, uniquely tailoring services to customers' needs. CoManage's innovative Integrated Service Manager is the first single application that integrates discovery, provisioning, fault management and performance monitoring capabilities for managing services in multi-vendor network environments. By delivering Customer-Aware managed services with ISM, service providers can increase revenues, decrease operations costs and increase customer satisfaction. CoManage's industry-leading ISM captured the top prize in new telecom management software in the SUPERQuest awards competition at SUPERCOMM 2000. More information on CoManage and the Integrated Service Manager is available at www.comanage.net, or by calling 1-877-COMANAGE or 1-412-318-6000. |
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