Focus Ventures Joins BA Venture Partners, Leapfrog, Mayfield, and Redpoint Ventures in Backing Information Lifecycle Management Leader
OuterBay, a leader in information lifecycle management (ILM) solutions for applications and databases, today announced it has received $12 million in Series C financing. Focus Ventures led the round with a $4.2 million investment, bringing OuterBay’s total funding to $40 million. The round was completed at an increased valuation over the prior round, which occurred in June of 2003. Previous investors BA Venture Partners, LeapFrog Ventures, Mayfield, and Redpoint Ventures also participated. The financing will be used to expand field and product operations for OuterBay's ILM products which lower IT infrastructure costs, increase application performance and help companies comply with data retention regulations. With this round, OuterBay is positioned to bring the company to profitability.
“OuterBay has a great reputation with its customers, including several Fortune 1000 companies with whom we spoke,” said Steve Bird, Focus Ventures’ general partner. “In our conversations, we found that many of chief technology officers are looking for better ways to reduce the cost of high-end storage without compromising application performance. OuterBay is in a unique position to become the principal market leader in the information lifecycle management space and we are pleased to support the company’s products and their outstanding team.”
OuterBay’s Application Data Management (ADM) Suite lowers the total cost of ownership on server and storage investments and improves application performance by assigning data to storage infrastructure tiers based on its value to an organization. Real-time user access to archived data allows users to set aggressive data retention policies, and keep months, not years of data in the production environment, while meeting increasingly stringent data retention regulations and guidelines. OuterBay solutions allow customers to place the right data in the right place at the right time for structured data in enterprise applications and databases. Some of the world’s leading companies rely on OuterBay’s ILM solutions to keep their systems running smoothly, including Arvin Meritor, Motorola, POSCO and Sun Microsystems.
“We are entering 2005 with a strong vote of confidence from our investors after a landmark year, during which we achieved record revenues and cemented strategic partnerships with EMC, Sybase, Nihon Unisys and NEC,” said Michael Howard, chief executive officer of OuterBay. “Focus Ventures, with their Fortune 500 corporate partners and extensive network in Asia, is a valued addition to our group of investors.”
About Focus Ventures
Focus Ventures is a leading expansion stage venture capital firm that invests in emerging market leaders in the software, semiconductor and communications industries. Focus Ventures currently manages $570 million, having closed its first fund in October 1997 and Focus Ventures II in December 1999. Focus Ventures offers its portfolio companies access to high quality partners in Asia and an extensive network of Fortune 500 US corporate partners focused specifically on driving top line revenue growth through customer introductions and by establishing distribution channels, joint ventures and licensing arrangements. Since the firm's inception, Focus Ventures has invested in 77 companies and has had 20 initial public offerings and seven acquisitions by public companies. A select number of portfolio companies that have gone public include: Active Software, Agile Software, Alteon WebSystems, BroadBase Software, Chordiant Software, Commerce One, Copper Mountain Networks, Corio, CoSine Communications, Interwoven, Loudcloud, Niku, Pixelworks, and Verisity. For more information on Focus Ventures, visit www.focusventures.com or call 650.325.7400.
OuterBay Technologies, Inc., a leading provider of information lifecycle management (ILM) solutions for applications and databases, helps customers monitor, forecast and manage data growth in enterprise application environments. Setting the standard for information lifecycle management, OuterBay's ADM Suite allows users to move data between storage tiers based on its current value to the business, and maintain open access to archived data across applications, platforms and storage media. As a result, OuterBay both improves enterprise application performance and reduces total cost of ownership. OuterBay is headquartered in Cupertino, California, with offices in the United States, Europe, Asia and Australia. OuterBay has over 150 customers. For more information, contact OuterBay at http://www.outerbay.com/ or 408.340.1200.
For further information contact
Monique Chambers, Devonshire Marketing,
0870 2407995, email@example.com
This press release was distributed by SourceWire News Distribution on behalf of Devonshire Marketing in the following categories: Business & Finance, Computing & Telecoms. For more information visit http://www.sourcewire.com/about