Hilgraeve Closes $2.5M in Funding for Secure Internet Delivery; To Solidify Lead in Secure Web-Based B2B File Transfer.

Business Editors, High-Tech Writers

MONROE, Mich.--(BUSINESS WIRE)--Oct 10, 2000

Hilgraeve, Inc., a long-time leader in communications software, today announced it has closed a $2.5 million first round of funding. The money will be used for the continuing development and marketing of Hilgraeve's newest Internet product, HyperSend. Hilgraeve has produced award-winning technology for mission-critical business applications for 18 years and has never before accepted outside funding.

HyperSend is a web-based product resulting from Hilgraeve's years of experience in developing award-winning communications software, including HyperTerminal, DropChute and HyperACCESS. HyperTerminal has been included in more than 50 million copies of Microsoft Windows since the launch of Windows 95.

HyperSend is a secure Internet delivery service that poses no file-size restrictions, and is more secure, reliable and trackable than email. HyperSend also features hands-free, automated data transfer capabilities and central administration features for corporate accounts. This new technology is showcased at HyperSend.com, which premiered July 30th. HyperSend.com allows users to sign up for a free account and send up to 100 messages each month.

"HyperSend offers incredible growth potential, because it provides businesses with the first truly easy solution for secure electronic delivery of documents and files of any kind or size," said Hilgraeve founder and CEO Matt Gray. "Knowledgeable private investors recognize this as a major opportunity, and have been anxious to participate. We plan to proceed immediately to secure second round funding to further accelerate market penetration and growth."

Investors include Paul Tobias, CEO of Mackinac Partners and former CEO of Munder Capital; Jack Reinelt, former division president of Apnet, a leading provider of B2B e-commerce services; Jim White, of counsel to law firm Shumaker, Loop & Kendrick and former CEO of Checkers Drive-In Restaurants, Inc.; and Doug Hawes, of counsel to law firm LeBoeuf, Lamb, Greene & MacRae.

About Hilgraeve

Hilgraeve, Inc. is a leading provider of solutions for mission-critical business communication requirements. Founded in 1980, Hilgraeve ranks among the world's most prolific communication software companies. Its HyperTerminal product is on more than 50 million desktops worldwide as a standard feature within all Microsoft Windows products since Windows 95. Publications such as Fortune, PC Week, PC World and PC Magazine have recognized Hilgraeve products with their reviews and awards. For more information, please visit www.hypersend.com and www.hilgraeve.com.