Bristol Technology Receives $9.1 Million from JVP, Apax Partners and Existing Investors in Series B Venture Capital Financing.Business Editors/High-Tech Writers DANBURY, Conn.--(BUSINESS WIRE)--July 21, 2003 Investment Fuels Sales and Marketing Expansion for TransactionVision, Visionary End-to-End Transaction Tracking and Monitoring Software Bristol Technology, Inc., a leading provider of transaction monitoring and analysis software, today announced the completion of a $9.1 million round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends . This funding will be used to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale sales and marketing initiatives for TransactionVision, the company's 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. . Bristol Technology's financing was led by JVP JVP Janatha Vimukthi Peramuna (People's Liberation Front, Sri Lanka) JVP Jewish Voice for Peace JVP Jugular Venous Pressure JVP Junge Volkspartei (Young Austrian People's Party) JVP Junior Vice President , an international venture capital fund based 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, Jerusalem and Tokyo, and Apax Partners, a global venture capital fund, and included participation from existing investors. JVP focuses on investments in early-stage companies in the enterprise software and networking, semiconductor and components, and communications and mobile infrastructure sectors. Apax Partners' investments range from early-stage venture capital to later-stage buyouts and cover six primary industries; including IT/telecommunications, consumer/retail and healthcare. Bristol's TransactionVision enables customers to reconstruct and analyze individual end-to-end business transactions comprised of numerous electronic messages between separate applications across thread, program, host, platform, geographic and institutional boundaries. TransactionVision customers are better equipped to meet and enforce service level agreements, establish and track key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. , and maintain an immediate awareness of any business issues stemming from a compromised transaction environment. Customers represent a worldwide presence: American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , Deutsche Telekom, Dresdner Bank, Northwestern Mutual and Bank Gesellschaft Berlin. "With ever increasing globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation occurring in today's business environment, the cliche that time is money has never been more true. Organizations need to be quickly alerted at the first sign of a key performance indicator failure, and be able to drill down from the business process to the supporting IT infrastructure in the search for its root cause," stated Cameron Haight, Research Director, Gartner, Inc. "This agility will enable corporations to move closer to Gartner's concept of the real time enterprise with the outcome being a substantially improved competitive position." "Bristol's TransactionVision provides both business and IT users with a clear view as to the value of each transaction to the enterprise, which in turn enables the informed prioritization of problem resolution for transaction management," stated JVP General Partner Michael Carus. "This offers a new approach to transaction management that we believe will become the basis from which the market will view performance of its transaction-oriented computing environment." Bristol Chief Executive Officer, Keith Blackwell, commented, "JVP and Apax Partners recognize the enormous market opportunity for software that tracks and monitors business transactions that delivers critical decision making capabilities. They also recognize the unique strength of TransactionVision to provide business and operations managers with an end-to-end transactional view in order to reduce financial risk, increase customer satisfaction, and optimize business processes. " "Across many industries, Global 2000 enterprises are encountering significant difficulty in monitoring and managing distributed and heterogeneous systems, which creates a strong market for Bristol's TransactionVision product," stated Evangelos Simoudis, a partner with Apax Partners in Menlo Park, CA. "We believe Bristol has the product, strategy, and management team to achieve leadership in this emerging market." Carus, Bloch, Simoudis, and Bickel Named to Bristol Board of Directors With this financing round, Bristol has appointed Michael Carus, Allon Bloch, Evangelos Simoudis and Bob Bickel to its Board of Directors. They join existing board members Keith Blackwell, Ken Blackwell, and Jim Perakis. JVP's General Partner and CFO See Chief Financial Officer. Michael Carus focuses on enterprise software, enterprise networking and communications software investments. In addition to managing JVP's financial strategy, Carus serves on the Boards of TeleKnowledge, Cogent and Bridgewave. Prior to joining JVP, Carus was EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition , COO and CFO of Fundtech (Nasdaq: FNDT FNDT Friday Night Drinking Thread ). Allon Bloch has led or co-led JVP's investments in Cyber-Ark, XMPIE, MagniFire and Sheer Networks. Bloch serves on the board of XMPIE. Prior to joining JVP, Bloch worked with McKinsey & Co. in London, where he consulted with leading European companies on a wide range of strategic issues. Apax's Simoudis focuses on enterprise software investments concentrating on infrastructure and system software. He also serves on the Boards of Composite Software, Confluent con·flu·ent adj. 1. Flowing together; blended into one. 2. Merging or running together so as to form a mass, as sores in a rash. Software and Princeton Softech. Prior to joining Apax, Simoudis was the 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 Customer Analytics, Inc., which was acquired by Xchange, Inc. Simoudis previously served as the VP of Business Intelligence Solutions at 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) . Bob Bickel founded Bickel Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal in 2002, a business advisory and consulting services firm. Previously, Bickel was the General Manager of the HP Middleware Division (HPMD) overseeing all market opportunities with regard to HP Middleware products. Before joining HP, Bickel was executive technology officer and executive vice president of products for Bluestone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Software Inc., acquired by HP in January 2001. About Bristol Technology Bristol Technology is a leading provider of transaction monitoring and management software products that facilitate end-to-end transaction visibility and business activity monitoring See BAM. . Bristol's TransactionVision provides customers with real time transaction tracking capabilities to speed business and IT decision-making. Bristol's sales and marketing analytics software, DataAlchemy(TM), is used by over 75 companies, including Del Monte, General Mills, Kodak, Procter & Gamble, and Sara Lee, to deliver powerful analyses of transactional data for consumer products goods manufacturers. Bristol is headquartered in Danbury, CT and has offices in Amersfoort, The Netherlands and Bangalore, India. For additional information about Bristol Technology and TransactionVision, visit Bristol www.bristol.com. About JVP JVP is a leading international venture capital firm focusing on investments in early stage companies in the enterprise software & networking, semiconductors & components and communications & mobile infrastructure sectors. With over $670 million under management, and offices in NY, London, Jerusalem and Tokyo, JVP leverages its international presence, vast expertise and substantial capital base to build companies with the potential to shape and dominate global markets. Through thirteen successful exits including Chromatis (acquired by Lucent Technologies), Precise (acquired by Veritas), Netro (NTRO NTRO National Terrorism Response Objective NTRO National Technical Research Organization (India) ), T.sqware (acquired by Globespan), Scorpio Communications (acquired by US Robotics) and Fundtech (FNDT), JVP continues to attract top tier institutional and strategic investors worldwide. To learn more about JVP, visit www.jvpvc.com. About Apax Partners Apax Partners is one of the world's leading international private equity investment groups, managing and advising more than $12 billion across the United States, Europe, Israel and Japan. With over 30 years of direct investing experience, Apax focuses on the following industry sectors: information technology, telecommunications, retail/consumer products, healthcare, media and financial services. Investments in the information technology sector include: Oblix, Jamdat, Confluent Software, Princeton Softech, Hal, etc. Apax Partners pursues a balanced fund Balanced Fund A mutual fund that invests its assets into the money market, bonds, preferred stock, and common stock with the intention to provide both growth and income. Also known as an asset allocation fund. strategy, investing in companies at all stages of development from start-up to buy-out transactions. For more information, please visit www.apax.com. Copyright (C) 2003 Bristol Technology Inc. TransactionVision is a registered trademark of Bristol Technology, Inc. All other trademarks are the property of their respective owners. |
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