Embotics Raises New Financing from Tera Capital and Private Investors.Investment Will Advance Embotics' Automated IT Management and Governance Solutions for Enterprise Server Environments OTTAWA -- Embotics, a company that offers enterprise solutions for autonomic IT service management and security, today announced it has closed a new financing round from Tera Capital Corporation and undisclosed private investors. Embotics will use the additional funding to accelerate product and marketing activities for its self-managing, self-securing, enterprise IT solutions. Driven by strong customer demand, rapid growth of IT infrastructure complexity and industry regulations, Tera Capital is increasing its investment in Embotics and its innovative enterprise solutions. Located in Toronto, Tera Capital is a high technology and biotechnology investment capitalist that manages private equity, venture capital, mutual funds, hedge funds and limited partnerships which specialize in the innovation economy. Several high profile private investors who are not being disclosed also participated in the investment round. "The industry is in need of an automated solution that provides an easier way to manage and secure server environments for enterprises," said Howard Sutton, founding principal of Tera Capital and a member of Embotics' Board of Directors. "The Embotics offering has made this a very attractive investment for us, enabling a product that underscores our belief in the company's approach to solving system complexity and governance issues for its customers." "The new financing will provide Embotics with a healthy runway to execute on its next phase of customer activities and product development, as well as to advance our work with partners like AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. and 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) ," said Jay Litkey, 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 Embotics. "We are consistently working to fulfill enterprise demand for more comprehensive oversight, auditing and control over IT operations as driven by legislation including SOX (1) (Schema for Object-oriented XML) An XML schema developed by Veo Systems and Muzino Communications, which was submitted to the W3C. SOX is based on DTD, but adds data typing and reuse mechanisms. , GLB (Gramm-Leach-Bliley Act) Enacted in 1999 and effective in mid 2001, the GLB stipulates that every financial institution shall protect the security and confidentiality of its customers' confidential personal information. , HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, and PCI (1) (Payment Card Industry) See PCI DSS. (2) (Peripheral Component Interconnect) The most widely used I/O bus (peripheral bus). . Our support from Tera Capital and our private investors will allow Embotics to accelerate on all fronts." About Embotics Embotics was founded to provide standards-based, automated IT service management and security capabilities for computers. Embotics' cross-platform software technology uses autonomic computing Refers to computer systems and networks that configure themselves to changing conditions and are self healing in the event of failure. "Autonomic" means "automatic responses" to unpredictable events. and telecommunications principles to increase the availability, performance and security of both server and client systems. Embotics was founded by seasoned entrepreneur Jay Litkey (founder of Symbium and BlackholeTV) and is funded by Tera Capital Corporation. Embotics is headquartered in Ottawa, Canada. For more information, please visit www.embotics.com. |
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