Uplogix Lands $7 Million in Series B Venture Funding; Adams Capital Management General Partner Martin Neath to Join the Company's Board of Directors.AUSTIN, Texas -- Uplogix(TM), the leading provider of automated au·to·mate
v. au·to·mat·ed, au·to·mat·ing, au·to·mates
1. To convert to automatic operation: automate a factory.
2. network support solutions, today announced the completion of a $7.0 million round of Series B financing. Adams Capital Management led the round with returning support from Series A investors including investment firm Fayez Sarofim Fayez Sarofim (Arabic: فايز ساروفيم) is a Coptic Egyptian American fund manager for a number of Dreyfus family stock funds. He is divorced with 5 children, and lives in Houston, Texas. & Co. Martin Neath Neath (nēth), Welsh Castell-nedd, town (1981 pop. 48,687), Neath Port Talbot, S Wales, on the Neath River. Neath is both a market and an industrial town. Metallurgy and a growing petrochemical industry are important. , a general partner at Adams Capital Management and former Tivoli executive, will join the Uplogix board of directors. This latest round of investment brings the company's total capital raised to $10.6 million. Uplogix will use the financing to build operational capacity to support its growing base of global customers and to expand investment in the company's product development initiatives.
"We look at a lot of companies, and in the area of systems and network management this is the most exciting development I've seen since leaving Tivoli," said Martin Neath, General Partner at Adams Capital Management. "With more and more mission-critical network devices distributed at remote offices and branches, the intelligent out-of-band appliance from Uplogix is unique in improving network availability and reducing labor costs."
Uplogix provides innovative solutions for automating the support of distributed networks. They have developed a set of management appliances that can be installed throughout the network to deliver unprecedented command and control capabilities via their next-generation out-of-band architecture. Unlike traditional network management tools, this unique approach allows Uplogix to deliver automated support functionality regardless of the state of the network. These "virtual network assistants" automate To turn a set of manual steps into an operation that goes by itself. See automation. a broad range of support operations from remote access and data collection to fault diagnosis and recovery. Uplogix customers have been able to dramatically reduce their overall network support costs, some by more than 50 percent, by leveraging this technology.
"Martin's success in helping build Tivoli into a multi-billion dollar enterprise management company is exactly the type of experience and guidance we need as Uplogix moves forward," said Barry Cox, chief executive officer, Uplogix. "Adams Capital Management has an extraordinary track record of guiding young companies to becoming dominant players. We believe they are the ideal partner to help us to solidify so·lid·i·fy
v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies
1. To make solid, compact, or hard.
2. To make strong or united.
v.intr. our position of leadership in providing the automated IT management solutions that customers are demanding."
About Adams Capital Management
Established in 1994, Adams Capital Management is a national venture capital firm noted for its domain expertise in disruptive technologies A new technology that has a serious impact on the status quo and changes the way people have been dealing with something, perhaps for decades. Music CDs all but wiped out the phonograph industry within a few years, and digital cameras are destined to eliminate the film industry. in the Information Technology, Semiconductor, Applied Materials Applied Materials, Inc. NASDAQ: AMAT (HKSE: 4336 ) is the global leader in nanomanufacturing technology solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel solar displays, solar and Network Infrastructure industries. ACM (Association for Computing Machinery, New York, www.acm.org) A membership organization founded in 1947 dedicated to advancing the arts and sciences of information processing. In addition to awards and publications, ACM also maintains special interest groups (SIGs) in the computer field. deploys a market-centric strategy to invest in emerging growth companies. With $700 million currently under management, ACM is an active lead investor, with four strategically located offices in Austin, Boston, Palo Alto Palo Alto, city, California
Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , and Pittsburgh. For more information, visit www.acm.com.
Uplogix provides automated network support solutions for enterprises seeking to reduce the cost and complexity of managing their networks. Uplogix' solutions dramatically increase network uptime, lower network support costs and improve network management security. Uplogix is privately held and headquartered in Austin, Texas. For more information, please visit www.uplogix.com.