Bridgewater Systems Attracts $30 Million Private Equity Funding.Business Editors/Hi-Tech Writers KANATA, Ontario--(BUSINESS WIRE)--March 13, 2000 Bridgewater Systems Corporation, a global supplier of policy-driven management and control software, announced today that it has secured $30 Million (Canadian) in its sixth round of private 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. . The round was led by Sprott Securities Limited of Toronto, Ontario, with Griffiths McBurney & Partners, Toronto, Ontario, as co-lead. "We applaud the great strides that Bridgewater Systems has made in the explosive service provider market in such a short time," commented John Douglas John Douglas is a name shared by a number of notable individuals:
GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) and Verio - both recognized players in the Internet space." Bridgewater Systems' Internet business solution enables progressive service providers to move beyond the "one-size-fits-all" approach to mobile and fixed Internet services delivery. It helps them deal with intense growth, roll out new services faster, and differentiate themselves in a crowded marketplace. Bridgewater Systems helps service providers meet the demand for more services by delivering intelligent software systems for provisioning management and control, and accounting of policy-based IP services - such as Internet access See how to access the Internet. , application hosting, VPNs, e-commerce and IP multimedia. "Bridgewater Systems is an excellent example of the type of Internet savvy company that VenGrowth invests in - an industry leader with rapidly growing sales, a strong product solution set and superior management," noted David Ferguson, Managing Director of VenGrowth, another investor. "Bridgewater Systems is well positioned for significant long-term success, and VenGrowth is excited by the opportunity to feed into the Bridgewater Systems' momentum." Securing this funding is a strong affirmation of our success to date and our IP networking vision," said Doug Somers Career "Pretty Boy" Doug Somers was best known for his stint in the American Wrestling Association (AWA) in the mid 1980's as part of a tag team with "Playboy" Buddy Rose, managed by Sherri Martell. , President 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 Bridgewater Systems. "Our target market is red-hot, and this round of funding will help us expand and leverage our first mover advantage on the global stage. We believe that Bridgewater Systems has what it takes to help service providers move toward the creation of e-Services for the dot.com world." About Sprott Securities Limited Founded in 1981, Sprott Securities Limited is solidly established as one of the most successful brokerage firms in the Canadian market. The Sprott team provides an outstanding combination of experience and professional training to excel at Verb 1. excel at - be good at; "She shines at math" shine at excel, surpass, stand out - distinguish oneself; "She excelled in math" the full range of services offered by this fast-growing firm. With offices located across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. , and seats held on all of the Country's major stock exchanges, Sprott Securities is able to provide full service and close relationships with corporate and investment clients. Website: http://www.sprott.ca About VenGrowth Founded in 1982, VenGrowth is one of Canada's most successful 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] , managing over $900 million on behalf of more than 100,000 individual investors. VenGrowth funds are managed buy a team of seasoned venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. , widely known and respected in the industry. Over the past two decades, VenGrowth has been a value-added equity partner to more than one hundred small and medium sized businesses. Website: http://www.vengrowth.com About Bridgewater Systems Bridgewater Systems works with progressive service providers to deliver integrated policy-driven software systems for IP service networks. Its mission is to be the leader and catalyst for a new class of IP services - those which are customer-focused and tailored to meet the diverse needs of individual users and businesses alike. Bridgewater's Internet business solution enables network, service and application providers to build, manage and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the explosive growth of IP services, from retail and wholesale Internet access through to VPNs, hosting, multimedia applications, and converged IP/PSTN services. Website: www.bridgewatersystems.com Bridgewater, its logo, and WideSpan are trademarks of Bridgewater Systems Corporation. |
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