XAware Receives $2.1 Million in Series-A Funding Led by ITU Ventures Colorado.Business Editors/High-Tech Writers COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo.--(BUSINESS WIRE)--Oct. 3, 2002 Capital Infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. Will Bolster XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Information Exchange Leader's Sales, Marketing and Product-Development Efforts XAware, Inc., a leader in XML-based information exchange and data integration, has secured a funding package of $2.1 million. The capital infusion is a Series-A round of funding led by ITU Ventures This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. and including Gefinor Ventures, new XAware Chief Executive Officer Bill Miller and former Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. executive Janpieter Scheerder. The funding package will enable XAware to expand sales and marketing efforts, while continuing to develop leading-edge XML-based integration products. In conjunction with this expansion, XAware will concentrate on the needs of systems integrators and software vendors with its XML-based integration components. Colorado Springs-based XAware develops lightweight embeddable data integration software components that reduce the complexities of accessing, transforming and integrating disparate data and application resources. "This investment is an affirmation of the strength of our core product, our technology and the abilities of our team," said Bill Miller, newly appointed chief executive officer of XAware. "ITU Ventures and Gefinor Ventures are ideal partners to help XAware realize its full potential as an information exchange company by funding the expansion of our sales, marketing and development activities." With the broad acceptance of XML as the common language for information exchange within and between companies, there is a growing need for specialized software components that dynamically exchange and integrate data from disparate sources using XML as the exchange language. XAware is focusing its marketing, sales and development strategy to serve the needs of systems integrators and independent software vendors within the government 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. sectors. Software tools and components from XAware enable companies to update existing applications or write new ones that are XML, Web Services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. and integration ready. ITU Ventures Managing Partner Jonah Schnel Jonah Schnel is co-founder and Managing Partner of Los Angeles-based venture capital firm, ITU Ventures. He is also current Director of Surfect Holdings and has been serving on Surfect Technologies' Board of Directors since June 2006. said XAware is poised to take advantage of huge opportunities in XML-based information exchange. "XAware is uniquely positioned to help application providers solve complex integration problems with XML-ready integration components," Schnel said. "We view XAware to be a company with a unique market position and high-growth potential." Gefinor Ventures' principals chose to back XAware because of its strength in the integration space and its foresight in creating a business model that focuses strategically on software components. "We have been impressed from the beginning by XAware's products, technology and management team," said Greg Carlisle, managing director of Gefinor Ventures. "Feedback from XAware's customers has reinforced our view that the company is poised to be the leader in XML data integration software. Among a number of companies we looked at, XAware provides a unique solution, built on XML and is ready for deployment." About XAware, Inc. XAware, Inc. is a worldwide leader in XML information exchange supporting both J2EE (Java 2 Platform, Enterprise Edition) A platform from Sun for building distributed enterprise applications. J2EE services are performed in the middle tier between the user's machine and the enterprise's databases and legacy information systems. and Microsoft .Net See .NET. technologies. XAware's lightweight embeddable data integration components dramatically reduce time to market, while increasing interoperability for application vendors in the financial services and government sectors. Focused on serving the needs of systems integrators and software vendors, XAware software components reduce the complexities of accessing, transforming and integrating disparate data and application resources. Founded in 1999, XAware is based in Colorado Springs, Colo., and is venture backed. For more information on XAware, visit www.xaware.com or call 719/262-3724. About ITU Ventures ITU Ventures Colorado is an $11 million partnership between ITU Ventures and Colorado Public Employees' Retirement Association (COPERA COPERA Colorado Public Employees' Retirement Association ). This partnership focuses on making investments in technology companies affiliated with research universities and laboratories located within Colorado. ITU Ventures Colorado is managed by ITU Ventures, a firm with more than $45 million in assets serving the unique needs of technology businesses that are emerging from the nation's leading research universities and institutions. For more information, visit www.itu (International Telecommunication Union, Geneva, Switzerland, www.itu.ch) A telecommunications standards body that is under the auspices of the United Nations. Comprising more than 185 member countries, the ITU sets standards for global telecom networks. .com. About Gefinor Ventures Gefinor Ventures is a venture capital firm providing capital, guidance and strategic support to early stage companies with innovative products and services. With offices in Colorado Springs, Austin and 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 , Gefinor Ventures provides the presence and reach of a large organization with a focused entrepreneurial approach. For more information, visit www.gefinorventures.com. XAware is a trademark of XAware Inc. All other brands or product names are trademarks of their respective owners. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion