Hyperic Announces Series A Funding From Accel Partners; Investment to be Used to Evolve Hyperic's Products, Business Strategy; Larry Augustin, Bob Bickel to Advise On New Strategic Initiatives.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 -- Hyperic, a leader in open management frameworks for IT operations, today announced it has acquired first round Series A investment from Accel Partners, a well-known Silicon Valley venture capital company. Among other uses, the funding will be used to shape Hyperic's business model and product lines in order to address new opportunities in the IT management space. Concurrent with today's news, Hyperic announced that Larry Augustin Larry Augustin is a venture capitalist and the the former chairman of VA Software, now known as SourceForge, Inc.. He founded VA Research, the predecessor to that company, in 1993 while a Ph.D. student in electrical engineering at Stanford University. , a leading open source authority, has joined Hyperic's board of directors. Bob Bickel, former Executive Vice President of Strategy and Corporate Development at JBoss, is serving as a key strategic advisor to Hyperic. "Today's funding announcement is in recognition of the innovation and value that Hyperic has generated in the field of IT operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. ," said Javier Soltero, Hyperic chief executive officer. "In just a few short years, Hyperic has become a recognized leader in solutions that enable companies to easily and cost-effectively manage large-scale IT infrastructures through a single, comprehensive interface. Accel Partners is a top-tier VC firm and we welcome the financial and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. it has extended to us." "Since its founding in 2004, Hyperic has solved a very hard problem--building a systems management product that is well packaged and easy to use, but serves complex needs. They have delighted customers in the process," said Kevin Efrusy, partner at Accel Partners. "Through today's investment we look forward to supporting the efforts of Hyperic's management team as it takes the next step in seizing new opportunities in the changing application software market." Hyperic's unified IT management solution, Hyperic HQ, offers cross-platform and cross-technology discovery, monitoring, alerting, reporting and control of enterprise IT assets. The product has been adopted by dozens of world-class companies, including several Fortune 100 companies, and today manages many of the world's largest Web infrastructures. The success of Hyperic's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. enabled the company to be profitable since its founding, and to self-fund its growth until the present time. "Hyperic has the potential to dramatically increase its presence in the IT management space, even to lead a new era of ease of use, pervasiveness and openness," stated Bickel. "By adapting its business model to the changing application delivery landscape, we see the opportunity for Hyperic to pre-empt pre·empt or pre-empt v. pre·empt·ed, pre·empt·ing, pre·empts v.tr. 1. To appropriate, seize, or take for oneself before others. See Synonyms at appropriate. 2. a. the market and establish itself as the leader of open, interoperable The ability for one system to communicate or work with another. See interoperability. platforms in the management systems technology field." New board member Larry Augustin currently serves on the boards of several early-stage technology companies. In 1993 he founded VA Linux (now VA Software), serving as its 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. until 2002. One of the group who coined the term "Open Source," he has written and spoken extensively on Open Source topics worldwide. Bob Bickel currently serves a number of companies as an active advisor or board member. Before his service to JBoss, Bickel was general manager of the HP Middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a Division; he also worked at Bluestone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Software, Inc., acquired by HP in 2001, as executive vice president of products. At Bluestone, Bickel introduced that company's application server technology to market, helping grow the company's annual revenue run rate to over $60 million. About Hyperic Inc.: Privately held and based in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] , Hyperic is the leading provider of predictable and open IT management solutions. Hyperic IT management solutions help companies realize the vision of unified application management by combining ease of deployment, low overhead and comprehensive support for both open source and commercial technologies with predictable, open pricing. Founded in March 2004, Hyperic's world-class team of professionals is experienced in commercial and open source application development and large-scale IT operations. Visit www.hyperic.com. About Accel Partners: Accel Partners is a venture capital firm that has been dedicated for over 25 years to supporting entrepreneurs who possess the unique insight to define new categories and build world-class technology companies. These entrepreneurs have led fundamental industry transformations rather than followed predefined market trends. Accel deeply shares our entrepreneur's passion for fundamental uniqueness and their courage to be first. This emphasis on leadership has engendered category defining companies that have reshaped their industries and in many cases created entirely new sectors. Accel-backed companies have sparked many of the most significant revolutions in technology businesses, such as: Veritas Software Veritas Software Corp. was an international software company that was founded in 1983 as Tolerant Systems, renamed Veritas Software Corp. in 1989, and merged with Symantec in 2005. It was headquartered in Mountain View, California. , Jboss, Facebook, RealNetworks, UUNet, Macromedia, PictureTel, Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , Walmart.com, and many others. Visit www.accel.com. |
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