Teneros Secures $20 Million Led by Goldman Sachs; Series C Brings Total Capital Raised to $44.5 Million for Leader in Application Continuity Market.MOUNTAIN VIEW, Calif. -- Teneros today announced that it has secured $20 million in funding led by Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. and joined by existing venture partners New Enterprise Associates (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ), Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , and STAR Ventures. The third-round investment brings the total capital raised by Teneros to $44.5 million. The company will use the funds to finance the go-to-market strategy of the Teneros Application Continuity Appliance(TM) for Microsoft(R) Exchange, the first remotely monitored and maintained appliance to bring cost-effective 24x7 mission-critical application continuity to mid-market enterprises and branch offices of large enterprises. "We believe Teneros has changed the price-performance equation for business continuity with their family of high-availability and disaster recovery appliances. By offering 24x7 end user uptime for mission-critical infrastructure applications such as Microsoft Exchange Messaging and groupware software for Windows from Microsoft. Exchange Server is an Internet-compliant e-mail system that runs under Windows NT/2000 and Windows Server 2003. It can be accessed by Web browsers, the Exchange client, versions of Outlook and the earlier Windows Inbox. , with zero on-going in-house IT costs, Teneros' products address the kind of broad market that we like to see in our investments," said Peter Perrone, vice president of Goldman Sachs. "We are delighted that our execution on product innovation, development, sales and customer service has merited investment from a world-class firm like Goldman Sachs, and the continued confidence of our top-tier venture investors," said Steve Lewis Steve Lewis may refer to:
penetration - the act of entering into or through something; "the penetration of upper management by women" ." All three existing investors, New Enterprise Associates (NEA), Sevin Rosen Funds, and STAR Ventures participated significantly in the round, bringing the total to $20 million including Goldman Sachs' investment. The valuation for the Series C is a major step-up from the post-money of the Series B. "We're excited to have an outstanding firm like Goldman Sachs as a partner in Teneros' success, and we are very happy as major investors in the strong up round that Goldman Sachs led," said Scott Sandell, general partner of New Enterprise Associates. "With $20 million raised in this round, Teneros has a considerable war chest to take control of its market." "We believe that the deal reflects Teneros' strength in its market, its sales, and the broad appeal of its family of appliances," said Nick Sturiale, general partner of Sevin Rosen. "This round cements Teneros' position as the emerging leader in the application continuity market for mission-critical infrastructure like Microsoft Exchange." "We see Goldman Sachs providing substantial value-add to further accelerate Teneros' success in the market," said Yoni yoni In Hinduism, a representation of the female sexual organ and feminine generative power, the symbol of the goddess Shakti (see shakti). The yoni is often associated with the phallic linga, the symbol of the god Shiva. Cheifitz, partner at STAR Ventures. "Goldman Sachs' global resources and capabilities complement STAR's unique connections with customers and partners for Teneros in Europe, Israel, and worldwide." Customer and Channel Growth Teneros launched the ACA ACA - Application Control Architecture last September at the exclusive, invitation-only DEMOfall Conference. It is the first appliance on the market to deliver instant-on(TM) failover in the event of planned or unplanned downtime for Microsoft Exchange server Microsoft Exchange Server is a messaging and collaborative software product developed by Microsoft. It is part of the Microsoft Servers line of server products and is widely used by enterprises using Microsoft infrastructure solutions. . With a 20-minute, plug-&-go(TM) installation, instant-on(TM) failover, data corruption Data corruption refers to errors in computer data that occur during transmission or retrieval, introducing unintended changes to the original data. Computer storage and transmission systems use a number of measures to provide data integrity, the lack of errors. detection and prevention, and no intrusive agents on the Exchange server, the Teneros appliance ensures continuous, 24x7 Exchange operation for end users. Teneros' solution can be deployed equally effectively at headquarters or at branch offices to provide 99.99%-99.999% (four nines to five nines) uptime for Microsoft Exchange. Since product release, Teneros sales of their Application Continuity Appliance for Microsoft Exchange have doubled every month. Teneros customers include the New York Mets
In addition to building a strong direct sales team in the major metropolitan areas throughout the U.S., the company has developed an international channel program, signing partnerships with systems integrators such as Intervision Systems, Inc., A Plus Technology, GIM a. 1. Neat; spruce. Electronics, InfoPartners and Optimus Solutions in the U.S. as well as partners in the UK, France, Portugal, Spain, and the United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. . Teneros has established alliances with Microsoft partners who design, install, and manage the networks and messaging infrastructure of mid-market companies and field offices of large enterprises. ABOUT TENEROS Founded in 2003, Teneros has pioneered a new product category that assures continuity of operations The degree or state of being continuous in the conduct of functions, tasks, or duties necessary to accomplish a military action or mission in carrying out the national military strategy. for the mission-critical Microsoft applications fueling corporations worldwide -- the Teneros Application Continuity Appliance(TM). Funded by Goldman Sachs, New Enterprise Associates (NEA), Sevin Rosen Funds, and STAR Ventures, the company is developing a family of plug-&-go(TM), business continuity appliances to serve the needs of mid-market companies and branch offices of large enterprises. Teneros is an Advanced Infrastructure Solutions Microsoft Gold Partner. Teneros is headquartered at 215 Castro St., 3rd Floor, Mountain View, Calif., 94041. More information is available at www.teneros.com. ABOUT GOLDMAN SACHS Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. ABOUT NEW ENTERPRISE ASSOCIATES New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same basic principals: support their entrepreneurs, provide an excellent return to their limited partners, and practice their profession with high standards and respect. Practicing classic venture capital for over 25 years, NEA focuses on early stage investments, playing an active role in assisting management to build companies of lasting value. With $6 billion under management, NEA's experienced management team has invested in over 500 companies, of which more than 150 have gone public and more than 200 have been acquired. NEA has offices in Restin, Virginia, Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. and Baltimore, Maryland. For more information, go to www.nea.com/. ABOUT SEVIN ROSEN FUNDS Sevin Rosen Funds is a top-tier venture capital firm with a record of funding successful companies since 1981. The SRF SRF abbr. somatotropin-releasing factor partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. Compaq, Lotus, Cypress, Electronic Arts, SGI (SGI, Sunnyvale, CA, www.sgi.com) A manufacturer of workstations and servers, founded in 1982 by Jim Clark. The company was founded as Silicon Graphics, Inc., but changed to its acronym in 1999. , Citrix and CIENA are representative of some of the firm's successful IPOs. Sevin Rosen general partners are Jon Bayless, Steve Domenik, Steve Dow, John Jaggers, Jackie Kimzey, Dave McLean, John McLean, John (məklān`), 1785–1861, American political figure and jurist, b. Morris co., N.J. His family moved to Ohio, where he studied law, was admitted (1807) to the bar, and practiced in Lebanon. Oxaal, Charles Phipps, Al Schuele and Nick Sturiale. The firm has offices in Austin, Dallas, Palo Alto and San Diego. For more information, please visit http://www.srfunds.com. ABOUT STAR VENTURES STAR Ventures is a leading venture capital firm whose mission has been to identify, invest in, and develop venture-backed companies that will redefine technology and business. Since its inception more than a decade ago, STAR Ventures has been investing in private, emerging and later-stage growth opportunities within the Telecom, Enterprise S/W See software. , Wireless and Life Sciences sectors. STAR currently manages $980 million, which was raised from investors like Siemens, AG Germany. STAR's endeavors have encompassed investment in 182 portfolio companies which, to date; have culminated in 56 successful IPO's & M&A's including companies like Ciena, Alvarion, Precise, and Orckit. With offices in Munich, Herzliya and Dallas, the firm has both the global reach and the resources to enable successful growth for their portfolio companies. For more information please go to http://www.star-ventures.com. All trademarks are the property of their respective owners. |
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