Hyperic Closes $3.8 Million Series A Round; Benchmark Capital Joins Accel Partners as Investor; Two Leading Open Source VCs Back Hyperic's Open Source IT Management Platform.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 Inc., provider of the first comprehensive open source IT management platform, announced today that it has closed a $3.8 million Series A funding round with an investment from Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon , a highly regarded Silicon Valley venture capital firm that has backed open source leaders MySQL and Red Hat Software as well as companies ranging from Palm to eBay. Benchmark joins fellow Silicon Valley VC firm Accel Partners, a previously announced participant in the Hyperic round and an investor in successful open source companies including JBoss. "Open source technology has gained a firm foothold in the database, 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 and enterprise application markets. We believe that IT management is the next frontier, and Hyperic comes to the table with exceptionally strong credentials," said Peter Fenton, General Partner, Benchmark Capital. "They have logged four years of development on their platform, are deployed in top-tier enterprises, and have some clear differentiators, including rapid deployment and support for both commercial and open source IT assets. These and other factors position Hyperic to become the leader in the space." "Enterprises spend $6 to $7 billion a year on IT management solutions. That translates into a significant market opportunity for open source alternatives," said Javier Soltero, Hyperic Chief Executive Officer. "Our ability to secure funding from two of the Silicon Valley 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] with the most open source-related experience is a strong endorsement of our product direction, business potential and strategic capabilities." Hyperic was started in 2004 with a hybrid commercial/open source product for auto-discovery, monitoring and control of IT assets. The company recently released its Hyperic HQ Management Platform as open source to enable enterprises to easily tailor the platform to their needs through open access to the Hyperic source code. Hyperic HQ's inventory auto-discovery, monitoring, alerting and portal tools are now available under an open source license, along with plug-ins for every major commercial and open source web server, application server and database. Support for products without plug-ins can be rapidly added to Hyperic HQ through its free open source development kit. Hyperic HQ Enterprise Subscription, available for a yearly fee per managed computer, adds technical support as well as advanced features including remote resource control, role-based security, log/security event tracking, policy-based management See policy management. and problem identification. About Hyperic Inc. Hyperic offers the first open source IT management solution that discovers, monitors, analyzes and controls all open source and commercial enterprise IT assets from a single unified interface. The Hyperic HQ Management Platform has been adopted by enterprises of all sizes, including several Fortune 100 companies, since the San Francisco-based company was founded in March 2004. For more information, visit www.hyperic.com. About Benchmark Capital Founded in 1995, Benchmark Capital is an early-stage venture firm that is dedicated to building technology companies of lasting value. The firm's strategy is to be the first investor in technology-driven companies that seek to create new markets and have significant growth potential. Benchmark invests in technology-driven companies in the areas of enterprise software and services, communications and security, semiconductors, mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings , consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, and 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. . The firm's portfolio includes such franchise companies as eBay, Handspring hand·spring n. A gymnastic feat in which the body is flipped completely forward or backward from an upright position, landing first on the hands and then on the feet. , Juniper Networks Juniper Networks, Inc. (NASDAQ: JNPR) is an information technology company based in Sunnyvale, California and founded in 1996. The company designs and sells Internet Protocol network products and services. and Red Hat Software. For more information, visit www.benchmark.com. |
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