Business Layers Closes $12.5 Million Round of Financing.Business Editors ROCHELLE PARK, N.J.--(BUSINESS WIRE)--Nov. 15, 2000 Business Layers, a leading developer of eProvisioning(TM) solutions, today announced that it has closed a $12.5 million round of financing. The round was led by Ascent Venture Partners, and supported by early round Business Layers investors, including Canaan Partners, Novell, 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 :NOVL NOVL Novell, Inc. (stock abbreviation, AMEX) ), Garage.com, Gemini Capital, Formula Ventures, Israel Seed Partners, and Shlomo Kramer, co-founder of Check Point Software Technologies Ltd. The financing parallels Business Layers' aggressive growth, and will fuel continuous development efforts for its innovative eProvisioning solutions. "Ascent Venture Partners is committed to backing companies that demonstrate strong leadership promise, and have the potential to become market leaders in their space," explained Leigh E. Michl, Managing Director of Ascent Venture Partners. "With an experienced management team and a competitive solutions offering, Business Layers is well-positioned for rapid growth." Since its launch in 1999, Business Layers has carved out a new market with its unique vision of eProvisioning, designed to help organizations leverage their digital infrastructure as a core part of their Internet strategy. The company's solutions align business needs with IT resources, automatically provisioning users with access to the devices, applications, systems, and services they need to be productive from day one. With Business Layers' eProvisioning solutions, organizations can seamlessly align eBusiness with IT across the extended enterprise of employees, business partners, and customers, and better respond to emerging market requirements. "We are pleased to reach another milestone by raising additional funds to further our company and product development," said Izhar Shay shay n. Informal A chaise. [Back-formation from chaise (taken as pl. )] Noun 1. , 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 Business Layers. "The support of Ascent and our previous investors reinforces their belief in our ability to deliver an industry-leading solution, and achieve continued growth and success in the marketplace." In addition to the investment of funds, Ascent Venture Partners' Leigh Michl will join Business Layers' Board of Directors, offering comprehensive business management support and expertise. Ascent Venture Partners has invested in over 100 firms. Many have become successful publicly-held corporations, including: Concord Communications; Hologic; Mariner Mariner Any of a series of unmanned U.S. space probes sent near Venus, Mars, and Mercury. Mariners 2 (1962) and 5 (1967) passed Venus within 22,000 mi (35,000 km) and 2,500 mi (4,000 km), respectively, and made measurements of temperature and atmospheric density. Health Group; MathSoft; MicroTouch Systems; Quintus Corporation, Syquest Technologies SyQuest Technology, Inc., now known as SYQT, Inc., was an early entrant into the removable hard disk market for personal computers. The company was started in 1982 by Syed Iftikar who named it partially after himself in a derivation of "Sy's Quest". ; and Viewlogic Systems. Other portfolio companies have achieved their growth objectives through corporate mergers. About Business Layers, Inc. Business Layers is a leading developer of eProvisioning(TM) solutions that help organizations implement a core part of their Internet infrastructure. Business Layers' award-winning eProvision Day One(TM) software helps organizations radically improve people's Time-to-Productivity by securely automating the process of allocating IT resources to business partners and employees. eProvision Day One has received the "Category Breaker breaker: see wave, in oceanography. " award for Applications by Network World magazine, and was recently awarded the Electronic Messaging See e-mail and messaging system. Association's (EMA (1) (Enterprise Management Architecture) An earlier strategic plan from Digital for integrating network, system and application management. It provided the operating environment for managing a multi-vendor network. ) Best of Show award at the Spring 2000 event. In addition, Business Layers recently received the New Jersey Technology Council's Internet Company of the Year Award. Business Layers investors include Canaan Partners, Novell, Garage.com, Gemini Capital, Formula Ventures, Israel Seed Partners, Ascent Venture Partners, and private investors. With offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe, Business Layers is headquartered in Rochelle Park, NJ, and operates engineering facilities in Israel. For more information, contact Business Layers at 877/552-9377, or access the company on the web at http://www.businesslayers.com. Business Layers, Inc., the Business Layers logo, eProvisioning, eProvision Day One, ADPr, and "Time-to-Productivity" are trademarks or registered trademarks of Business Layers, Inc. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other company and product names mentioned are the trademarks or registered trademarks of their respective companies. |
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