 |
 |
|
       |
||
|
||
|
   |
Press Releases PolarLake Secures over $7 Million in Additional Funding in support of Continued Global Growth Atlantic Bridge Ventures joins existing PolarLake investors, Delta Partners and Add Partners, in new funding round Dublin, Ireland, October 18, 2005 PolarLake, a world leader in application integration based on the Enterprise Service Bus (ESB), today announced that it has closed a funding round of over $US 7 million to support further international expansion. Atlantic Bridge Ventures led the round, in which PolarLake's existing investors, Add Partners and Delta Partners, also participated. PolarLake provides a complete suite of integration products for the automation of complex business processes across organizational and technical boundaries. The company will use this new funding to drive continued expansion of its sales and marketing activities in Europe, the US and Asia in order to capitalize on growing demand within large financial services and government organizations. The aim is to consolidate the PolarLake Integration Suite's world leading position as the only viable alternative to complex and costly traditional Enterprise Application Integration (EAI) solutions. "We are delighted to welcome Atlantic Bridge as an investor," said Ronan Bradley, CEO, PolarLake. "The Atlantic Bridge team's outstanding operational experience and extensive network will be a real asset to PolarLake as we build the business." "Our Integration Suite is already delivering value in dozens of large-scale line-of-business applications, deployed by leading organizations that see PolarLake as a long-term strategic integration partner," added Bradley. "Flexible, productive and standards-based, PolarLake offers a real alternative to proprietary, costly and complex EAI products, whilst addressing complex, real-world integration challenges in a way that more lightweight ESB products are unable to do." "We have been consistently impressed by the high levels of satisfaction reported by PolarLake's customers, based on the ease of deployment and rapid return on investment those customers are already experiencing," said Kevin Dillon, Partner, Atlantic Bridge Ventures. "PolarLake maintains a strong focus on answering the needs of leading financial services and government organizations, and this is reflected in the quality of the customer base." "PolarLake is very well positioned to build on previous successes and emerge as a market leader in the integration space," said Niko von Huetz, Investment Director, Add Partners. "They have an exceptional core technology and a strong growth potential within the rapidly expanding ESB and SOA markets." "Delta Partners was one of the founder investors in PolarLake in 2002, and the company has made tremendous commercial progress since then." said Maurice Roche, General Partner, Delta Partners. "This additional funding will allow the company to accelerate its sales and marketing activities and achieve significant value over the next few years." About PolarLake: PolarLake, a leader in standards-based incremental integration, provides a complete suite of products for implementing integration solutions based on the Enterprise Service Bus architecture. PolarLake's full-strength, productive solutions deliver code-free orchestration and mediation of software services, enabling integration solutions to be extended and re-used without extensive re-engineering. PolarLake has a proven track record in delivering the benefits of incremental integration, whilst leveraging existing IT investment in standards, skills and systems to reduce both initial investment and total cost of ownership. Deployed customers in financial services include JPMorgan Chase (NYSE: JPM), Pioneer Investments, part of the Unicredito Italiano Banking Group (Milan: UC), Man Financial (LSE: EMG), Nissay Dowa (Tokyo: 8759) and Bank of Ireland (Dublin: BIR), in government include the Criminal Justice System in England and Wales, and in telecommunications include two of Japan's largest providers and Midwest Wireless (USA). PolarLake solutions are provided by partners such as Hitachi Systems and Services (Tokyo: 3735) and Sun Microsystems (Nasdaq: SUNW). PolarLake is headquartered in Dublin, Ireland, with offices in London, New York and Tokyo. About Atlantic Bridge Ventures: Atlantic Bridge Ventures is a new pan European fund with offices in Dublin and London focused on making early and mid stage technology investments in semiconductors and software across Europe with a strong focus on a US exit model. Atlantic Bridge is comprised of a cohesive, dedicated team of experienced professionals who are committed to the success of the investee companies. All of our team members come from an industry background and have first hand experience of the challenges involved in growing technology companies from the startup stage into profitable businesses. Many of these companies have had successful exits either on the public markets or through trade sale. Atlantic Bridge is regulated by the FSA. About Add Partners: Add Partners, is a leading Venture Capital firm, investing in Europe's most promising technologies and entrepreneurs. Uniquely for Europe, Add Partners' investment team applies Silicon Valley-style investing, deep knowledge of the European market, and global perspective to help early-stage companies achieve their global potential. Add Partners was founded in 1999 and is headquartered in London, UK. About Delta Partners: Delta Partners is a venture capital firm investing Ireland and the United Kingdom. It was established in 1994 and now has €130 million under management. The firm has a strong focus on investing in early stage technology companies, and the team has made over 50 investments in the following sectors: Information Technology, Communications, Healthcare. Delta is among the most active seed investors in Europe. Our backgrounds in operations, strategy and finance allow us to complement the drive and ambition of entrepreneurial management teams — ENDS —
|
|
|
||||
 |
||||