First Access Secures Second Round Financing; Jerusalem Venture Partners Leads $5 Million Investment In Award-winning Security Developer.HAIFA, Israel--(BUSINESS WIRE)--Sept. 1, 1998--First Access Ltd., provider of smartcard-based practical security solutions and founder of the vicinity authentication market segment, today announced an agreement with a group of investors led by Jerusalem Venture Partners (JVP JVP Janatha Vimukthi Peramuna (People's Liberation Front, Sri Lanka) JVP Jewish Voice for Peace JVP Jugular Venous Pressure JVP Junge Volkspartei (Young Austrian People's Party) JVP Junior Vice President ) for a $5 million second round capital investment. In the company's current fundraising activities, JVP is joined by Shamrock, the Disney family's investment company, and the Van Leer Van Leer is a German surname. The Van Leer family history begins in the Prätigau mountain area near the village of Fideris in what is now the canton of the Grisons. Surname
"The significant funding from JVP will further enhance our growth and market penetration," said First Access 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. Moshe Elgressy. "JVP is one of Israel's leading 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 its participation is instrumental in turning First Access into a world-class company," added Elgressy. JVP's vote of confidence in First Access' products and future follows the initial capital investment of $1.5 million made by Neurone neu·rone n. Chiefly British Variant of neuron. Venture Capital Fund. Neurone's main investors include the Israeli partners of Siemens and Sun Microsystems, and Check Point Software. "Neurone is pleased to see First Access move into its second phase as a growing company," said Neurone's president and CEO Ami Dotan. "We are proud to see the company progressing into one of Israel's leading security vendors," Dotan added. "We view First Access as one of our prime investments for the future," said JVP General Partner Erel Margalit. "The company has the innovative products and outstanding management team needed to become a global leader in the Enterprise security market in the U.S., Europe and Far East. We intend to work closely with them to accomplish this goal," he added. About JVP Jerusalem Venture Partner L.P. (JVP) is a $75 million venture capital fund that invests in the building of successful Israel-based and Israel-related technology companies. JVP invests in early-stage technology based companies which specialize in the areas of communications, Internet, and software applications. The Fund's investors include major technology and financial institutions, as well as prominent individuals in the U.S., Europe, Japan, and Israel. JVP is the second fund in a series of funds managed by two of JVP's current Israeli management team. The first fund, Jerusalem Pacific Ventures (JPV JPV Juntos Pela Vida ), was established in 1994 with $20 million under management. JPV invested in thirteen leading companies, including Scorpio Communications (sold to US Robotics), Fundtech (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 :FNDTF), Summit Design (NASDAQ:SMMT SMMT Society of Motor Manufacturers and Traders SMMT Short Message Mobile Terminated SMMT System Mechanic Mobile Toolkit ), Paradigm Geophysical (NASDAQ:PGEOF), Netro, RTS (Request To Send) An RS-232 signal sent from the transmitting station to the receiving station requesting permission to transmit. Contrast with CTS. 1. (operating system) RTS - run-time system. 2. , and CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. . About First Access First Access Ltd. is the award-winning vendor of Practical Security solutions and creator of the Vicinity Authentication market segment. The company's innovative security product was winner of Byte Magazine's prestigious "Best of CeBIT" award in March of 1998. First Access's patent-pending product suite combines new hardware, software and smartcard technologies for easy-to-use, automatic user authentication of PCs, network workstations and office equipment. The First Access product suite implements the highest level of integration with network operating systems such as Windows NT, providing enterprise wide security and access control. First Access has joined twelve industry leaders including 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) , Sun Microsystems, Bull, Schlumberger and Gemplus, as founders of the OpenCard Framework, a smartcard standard development architecture. Moshe Elgressy, a top Israeli security expert and software engineer, founded First Access Ltd. in 1997. First Access has its R&D Headquarters based at 10 Markoni Street, PO Box 25084, Haifa 31253, Israel. Telephone: 972/4-840-3322. Fax: 972/4-840-3399. E-mail: info@access-1.com, Web site: www.access-1.com.
CONTACT: First Access Ltd.
Alon Klein, 972/4-840-3222
aklein@access-1.com
or
Simon/McGarry Public Relations
John Jordan, 650/596-5880 ext. 4274
jjordan@shandwick.com
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion