Continuus Closes $2.5 Million in New Financing; Premiere Configuration Management Solutions Provider Poised for Growth.IRVINE, Calif.--(BUSINESS WIRE)--Feb. 22, 1995--Continuus Software Corporation today announced it has received an additional $2.5 million in 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 . The investor group was led by Norwest Venture Capital and also includes Advanced Technology Ventures and Brentwood Associates. This financing will fund the continued development of Continuus' leading process-oriented configuration management solution, as well as new marketing initiatives and the company's international expansion. Continuus' current total venture capital funding is now $7.5 million. "Funding from these top-notch firms gives Continuus the backing it needs to exploit the new version 4.0 product's full market potential, while simultaneously moving forward aggressively with development of our PC product," said John Wark John Wark (born Glasgow, 4 August 1957) was a Scottish footballer who grew up in the Ipswich Town side of the 1970s and went on to become a player synonymous with the club. He was also part of the all conquering Liverpool side of the mid 1980s. , President and Chief Executive Officer of Continuus Software. "Each of these investment firms is respected for selecting strong, fast-growing technology companies, and we are proud to be part of their exclusive group of strategic investments." "As client/server becomes a standard computing computing - computer architecture, the market for Continuus' CM solutions is growing dramatically. Based on the increase in revenues from the 4.0 product launch, coupled with the recent additions of John Wark and Bob Chamberlain Chamberlain may refer to:
"Additionally, Continuus is exceptional because its customer base broadly encompasses corporate MIS, aerospace and defense, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , software, and high-tech software developers." About Continuus Software Corporation Based in Irvine, Continuus Software is a leading provider of client/server change and configuration management systems for software development teams. The company develops and markets Continuus/CM and Continuus/PT, a comprehensive, process-oriented solution used to manage software development and ongoing maintenance. Continuus sets a new industry standard in change and configuration management, process support, ease of use, flexibility, and scalability to help software developers improve team productivity, product quality, and time to market. Continuus is a privately-owned, venture-backed corporation. Products are sold direct as well as through resellers overseas to the computer, commercial, telecommunications, and government markets. The company also offers extensive training and integration services to software developers. Major customers include Apple, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Bell Atlantic, Lockheed, Motorola, Northern Telecom, and Tandem (Tandem Computers Inc., Cupertino, CA) A former major manufacturer of fault-tolerant computers founded in 1974 by James Treybig and provider of the early 21st century technology for HP's enterprise computing strategy. . About Norwest Venture Capital Founded in 1961 and headquartered in Minneapolis, Minn., Norwest is the lead investor in this financing round, and one of the premiere 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] 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. . The company manages more than $500 million in over 250 start-up businesses and emerging-growth companies across a range of industries. Norwest focuses on the software, medical, retail, and telecommunications industries. The firm specializes in client/server software technology with recent investments including Forte Software, PeopleSoft, Inc., Resumix, Inc., Tivoli, The Vantive Corporation, and Documentum. CONTACT: Continuus Software Doug Meloth, 800/820-1995 The Horn Group Annette Shimada or Carol Shen Shen, in the Bible, place, perhaps close to Bethel, near which Samuel set up the stone Ebenezer. , 415/579-6400 |
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