GroundWork Open Source Closes Over-Subscribed $12.5 Million Series C Financing Round.Undisputed Open Source Systems and Network Management Leader Receives Funding From JAFCO and SAP Ventures SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- GroundWork Open Source, Inc. (www.groundworkopensource.com), the leader in open source systems and network management software, today announced that it has secured $12.5 million in its third round of 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 Series C round includes new investors JAFCO Ventures, SAP Ventures, the corporate venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so arm of SAP AG (company) SAP AG - (Systeme, Anwendungen, Produkte in der Datenverarbeitung - German for "Systems, Applications and Products in Data Processing") A company from Germany that sells the leading suite of client-server business software. The US branch is called SAP America. , and existing investors, Canaan Partners and Mayfield Fund Mayfield Fund is a venture capital firm located on Sand Hill Road in Menlo Park, California, home to many of Silicon Valley's leading venture capital firms. Mayfield was founded in 1969 by Tommy Davis, one of the first venture capitalists. . Investment proceeds will be used to extend GroundWork's worldwide adoption and phenomenal customer traction, grow the GroundWork Partner Network, and broaden the product portfolio. "In less than three years, GroundWork has established an irrefutable irrefutable - The opposite of refutable. leadership position in open source systems and network management, offering a viable and compelling open source alternative to proprietary IT monitoring solutions," said Tom Mawhinney, General Partner at JAFCO Ventures, which led the round. "We invested because there is a tremendous untapped market opportunity in the mid-market for GroundWork's solution and their seasoned management team is ideally poised to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this opportunity." GroundWork unifies leading open source projects to deliver enterprise-class IT systems and network management solutions at a fraction of the cost of proprietary solutions, including HP OpenView HP OpenView was a Hewlett Packard product range consisting of an extensive portfolio of network and systems management products. In 2007 the entire HP OpenView portfolio was rebranded under the strengthened HP Software name. . Offering the widest range of support for operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. , applications, and networked devices, organizations can leverage the flexibility and low cost of open source tools to achieve enterprise-level availability, performance and operational efficiency at a fraction of the cost of traditional software. "We see enormous synergies with GroundWork's technology and its ability to monitor installations of SAP applications, which are seamlessly integrated into a comprehensive system-wide monitoring solution," said Jai Das, Partner at SAP Ventures. "For mid-market customers, GroundWork will help reduce total cost of ownership." GroundWork Monitor Professional, the company's flagship solution, has been deployed in more than 20 countries spanning key vertical markets including finance, technology, construction, education, government, manufacturing, utilities, healthcare, and pharma. In 2006, GroundWork had a 400% increase in subscription revenue while surpassing the 200 customer milestone. "GroundWork's solutions are ready for mission-critical business environments," said Ranga Rangachari, 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 GroundWork. "In 2006, we successfully monetized our business and achieved escape velocity escape velocity, the velocity a body must be given in order to escape the gravitational hold of some other larger body, e.g., the earth, moon, or sun. A body given less than the escape velocity will fall back toward the surface of the larger body; a body given a in the open source systems and network management space. In 2007, we see a growing and profitable business, taking share from proprietary products like HP OpenView as the mid-market better understands the value and maturity of our offering." About JAFCO Ventures Based in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. , JAFCO Ventures is an independent venture capital partnership focused on companies that are emerging leaders in the software, semiconductor and communications industries. JAFCO Ventures was formed in 2003 and currently manages $200 million in capital. The fund's charter is to invest in venture opportunities with true "breakout" potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development (ABD ABD n. A candidate for a doctorate who has completed all the requirements for the degree, such as courses and examinations, with the exception of the dissertation. [a(ll) b(ut) d(issertation).] ) team. The role of the ABD team is to help JAFCO's portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit www.jafco.com. About SAP Ventures Established in 1996, SAP Ventures is the corporate venture investing arm of SAP AG. The fund focuses on information technology investing, with an emphasis on enterprise technologies and services. The team has amassed an enviable track record of generating outstanding financial returns while providing a window on innovation to the SAP Ecosystem. SAP Ventures evaluates opportunities globally, looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. innovative companies with outstanding management. The fund works closely with their portfolio companies, providing advice and guidance and helping them connect with SAP and SAP's partners. CommerceOne, MySQL, RedHat, WebEx, and Virsa (SAP) are just a few of the companies in which SAP Ventures has invested. For more information please visit http://www.sap.com/company/sapventures/index.epx. About GroundWork San Francisco-based GroundWork Open Source, Inc. (www.groundworkopensource.com) is the leader in the fast-growth market for open source systems and network management software. The company unifies leading open source projects into a complete software solution for monitoring and managing the performance and availability of the entire IT infrastructure at a fraction of the cost of traditional software. Thousands of systems administrators across hundreds of organizations worldwide have downloaded and deployed our products to monitor and manage the performance and availability of over one million systems and network devices. GroundWork customers represent a variety of industries, including education, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , government, manufacturing, and high technology. The company is privately held, with investments from Canaan Partners, Mayfield Fund, JAFCO Ventures and SAP Ventures. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary. |
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