CYA Technologies, Inc Announces $6.8 Million Series A Investment -- Software Company Gaining Significant Traction with Business Continuity Solutions.Business Editors TRUMBULL Trumbull, town (1990 pop. 32,016), Fairfield co., SW Conn.; settled in the 1660s, inc. 1797. Largely residential, the town has some light industry. The Nasdaq's data center is there. , Conn.--(BUSINESS WIRE)--May 23, 2002 CYA CYA Cover your ass. See Defensive medicine. Technologies, Inc., a leader in business continuity solutions, announced today $6.8 million in Series A financing. YankeeTek Ventures, a Cambridge Cambridge, city, Canada Cambridge (kām`brĭj), city (1991 pop. 92,772), S Ont., Canada, on the Grand River, NW of Hamilton. It was formed in 1973 with the amalgamation of Galt, Hespeler, and Preston, all founded in the early 19th cent. , Mass. based venture capital firm, led the round with $2.5 million; $2.3 million converted from existing bridge loans provided by Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). Innovations and others. The round will remain open for new investors as the Company is seeking an additional $2 million. The Company will use the funds to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. development of additional CYA Command Console(TM) suites, strengthen its strategic alliances and build its direct and channel sales force. CYA, which stands for Capture Your Assets! (TM), markets a suite of software products and utilities targeted to the enterprise's growing need to achieve high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. , guarantee data integrity and enable true business continuity by protecting the relationships and processes within an organization's enterprise systems. The current suite is targeted at Documentum Documentum is an enterprise content management platform, now delivered by EMC Corporation, as well as the name of the software company that originally developed the technology. EMC acquired Documentum for $1.7 billion in December, 2003. , the leading enterprise content management vendor, and consists of eight modules designed to provide clients with a building block approach to business continuity. The patent-pending CYA HOTBackup is the suite's "engine". CYA HOTBackup is the only application-aware software solution of its kind; able to understand the application, it's data and the complex relationship between them. By utilizing this intelligent engine, enterprises can plug-in additional modules to achieve greater degrees of business continuity for mission-critical information. "CYA has continued to thrive, regardless of current market conditions. In the first quarter of this year we had over $1 million in orders, we are ahead of schedule with our development, and our partner program is gaining traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. ," said Elaine Price, 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 CYA. "The value and importance of CYA's business continuity solutions are supported by the Blue-Chip list of customers that have embraced them. The ability to achieve continuous backup without impairing production time coupled with the ability to maintain data integrity, links and relationships down to the object level, makes this a compelling, cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. way to safeguard mission-critical data," said Jack Genest, Managing Director of YankeeTek. About CYA Technologies, Inc CYA Technologies is the leading provider of application-aware business continuity software products and utilities essential to the protection of critical business processes that power the enterprise. The Company's product suite, the CYA Command Console, consists of a multitude of innovative and robust modules designed to provide superior business continuity and high availability solutions as well as simplify complex administrative tasks. Fortune 2000 companies in every industry utilize CYA's products to successfully compete in todays highly regulated and eBusiness environments. The Company plans to develop additional CYA Command Console's for other leading platforms in the Enterprise Content, Customer Relationship, and Enterprise Resource management arenas. About YankeeTek Ventures YankeeTek Ventures is a $60 million venture capital fund focused on early-stage technology companies. YankeeTek's professionals work closely with entrepreneurs to provide the assistance, guidance and support required to build successful companies. YankeeTek focuses on investments in the areas of Application Software and Services, Communications and Networking, eBusiness Infrastructure, Semiconductors and Emerging Technology. For more information, visit www.yankeetek.com |
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