CAT Technology, Inc. Raises $5 Million in First-Round Funding; Leading Provider of Web-System Design and 24x7 Managed Services for eBusiness.Business Editors, High-Tech Writers LOS GATOS Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , Calif.--(BUSINESS WIRE)--March 9, 2000 CAT Technology (www.CATtechnology.com), a leading Bay Area provider of mission-critical web-based systems and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , it announced recently that its had completed Series A sale of Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. by a consortium of 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] and private investors. VC firms participating in the first-round funding include Amtech LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (Beneventure Capital), Zain Technology Ventures, Staenberg Private Capital, and DigaComm Ventures. The new funds will help the company accelerate its current rapid growth rate and expand its ability to fully outsource the design, architecture, testing, deployment, and 24x7 management, of mission-critical class web-systems for Internet start-ups and businesses in the mid-cap market. The capital raised will strengthen CAT's core of engineering resources and finance the construction of a new Internet See Web 2.0 and Internet2. Operations Center The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. in preparation for a planned nationwide expansion. "CAT Technology has the expertise and technical savvy to explode in concert with the staggering industry projections for this space," said Gil Amelio, 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 San Francisco-based Beneventure Capital. "Unlike their emerging competition, CAT's vertically aligned business model ideally positions the company to be a leader in the eCommerce niche of web-system design and managed services." "The dramatic increase in demand for highly scalable backbone infrastructure solutions and services coupled with market projections suggests that CAT is in the right market at the right time," said Mohammed Al-Baghdadi, CEO of San Francisco-based Zain Technology Ventures. "We feel CAT's technical and market expertise strategically position them to dominate this marketplace". Jon Staenberg, Founder of Seattle-based Staenberg Private Capital, states, "As an investor in the company, we see the incredible growth potential CAT provides to this booming market. CAT Technology provides the IT resources every Internet-based business desperately needs." "With the expansion of complex IT web-system needs, CAT Technology has created a range of solutions and services crucial to minimizing or completely negating downtime," said Michael Addicott, Managing Director of Atherton-based DigaComm Ventures. " They provide innovative solutions built on proven technology to keep e-businesses up and running. We joined forces with CAT because we believe they will maintain and solidify their current leadership role in back-end solutions and management." "The fact that we have attracted such a respected group of initial investors so quickly is a strong vote of confidence for CAT's long-term vision," said Richard Crouch, CEO of CAT Technology. "With continued support from our backers, we are on course to take CAT Technology to the next level." About CAT Technology, Inc. CAT Technology (www.cattechnology.com) is a leading provider of highly scalable, highly available, mission-critical class web-systems. Web-centric services include architecture & design, integration, optimization, staging, and 24 x 7 managed services. One of Sun Microsystems' ten largest Regional Systems Partners (RSP RSP right sacroposterior (position of the fetus). ) nationwide, CAT has also achieved national prominence as a leading Cisco Systems, Oracle, and Veritas Software solutions provider. The company is headquartered in Los Gatos,California. |
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