In other news, the company also today announced a new release of AmberPoint Management Foundation optimized for Microsoft’s .NET platform (see related release, “AmberPoint Delivers .NET Release of Web Services Management Solution”).
Founded in August of 2001, AmberPoint has developed an innovative approach to managing distributed, federated XML and Web services environments. AmberPoint software solutions prepare Web services-based information systems for business-critical deployments by making them easily manageable and more secure across Java and .NET environments. The company launched its initial product, AmberPoint Management Foundation, in June of 2002.
“AmberPoint is well positioned to capitalize on the emerging Web services market,” said Vladimir Jacimovic, managing director for Crosslink Capital and newly appointed AmberPoint board member. “They’ve got a strong management team, a highly differentiated product roadmap, close partnerships with industry leaders, and a wealth of experience in developing, selling and supporting ground-breaking enterprise software solutions. Having evaluated many Web services-related companies, we are extremely confident in the market viability of AmberPoint. We expect the company to build on its successes as it expands its software solutions and market penetration.”
“The Web services management market opportunity is evident from AmberPoint’s early customer traction and strong industry partnerships,” said Promod Haque, managing partner at Norwest Venture Partners. “As a first-round investor, we saw early on the market need for the company’s management solutions. While AmberPoint didn’t yet need the funding, it is now properly capitalized to execute on an aggressive go to market strategy and pursue future product development.”
“An investment of this size in today’s challenging conditions is a strong endorsement of our market leadership,” said John Hubinger, president, CEO and chairman of AmberPoint. “In this developing marketplace, it’s critical to have the capital it takes to deliver complete product and support offerings, rather than simply assembling a collection of technology and waiting for customers to come. In little more than a year, we’ve assembled an impressive management team, launched a pioneering solution and secured a strong group of large customers. This round of funding will carry us through to 2005 and will help us to build on our momentum as we help the Web services market to mature.”
About Crosslink Capital
Since 1989, Crosslink Capital has invested in emerging technology companies. Currently its venture investing activities are focused on the software, core technology and semiconductor industries. Crosslink invests in very early, seed stage financings all the way through later-stage private opportunities and into the public market. This strategy allows Crosslink to remain a long-term partner to its portfolio companies. Crosslink Capital was the first venture capital firm in the U.S. to integrate public and private technology investing. To learn more about Crosslink Capital visit www.crosslinkcapital.com.
About Norwest Venture Partners
For more than 40 years, Norwest Venture Partners (NVP) has actively partnered with entrepreneurs to build large businesses. NVP focuses on early stage investments in enterprise software and communications technologies. The firm manages more than $1.8 billion in venture capital and has funded over 350 companies since inception.
NVP has invested in such market leaders as Accord Networks (acquired by Polycom), Actel Corporation, Brocade Communications, Cerent (acquired by Cisco Systems), Corio, Cray Research, Docent, Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), Network Systems (acquired by StorageTek), Octane Software (acquired by E.piphany), OnDisplay (acquired by Vignette Corporation), PeopleSoft, Quantum Effect Devices (acquired by PMC-Sierra), RF MicroDevices, SeeBeyond, Siara Systems (acquired by Redback Networks), Tivoli Systems (acquired by IBM), Vantive Corporation (acquired by PeopleSoft), Verio (acquired by NTT Communications) and Xylan (acquired by Alcatel). Additional information on Norwest Venture Partners is available at www.nvp.com
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies pioneering products or services in growth markets, especially those in information technology and health care. Founded in 1962, it is one of Silicon Valley's original venture capital firms. Companies backed by Sutter Hill include nVidia (NVDA), BroadVision, Inc. (BVSN), Vitria (VITR), Thermawave (TWAV), Molecular Devices (MDCC), Cor Therapeutics (MLNM), Amylin Pharmaceuticals (AMLN), Omnicell (OMCL), Aksys (AKSY), and Amerigroup (AMGP).
About AmberPoint
AmberPoint, Inc., a pioneer in Web services management, offers the most comprehensive solutions for making Web services production-ready, business-ready and easily manageable. With its modular, architecture-independent design, AmberPoint radically simplifies the management and evolution of business solutions built on Web services. AmberPoint's Customer Experience Group delivers services to ensure successful deployment and use of all AmberPoint software. Founded in 2001, AmberPoint is privately held with venture backing from Sutter Hill Ventures and Norwest Venture Partners. AmberPoint corporate headquarters are located in Oakland, California. For more information, contact AmberPoint at 510-663-6300 or info@amberpoint.com, or visit the company website at www.amberpoint.com.
Press Contacts:
AmberPoint, Inc.
510-433-6553
bdever@amberpoint.com
Kim Abreu
Atomic Public Relations
415.703.9454
kim@atomicpr.com
