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Press Releases
July 29, 2003
Intelliden Corporation Raises $12.5 Million In Financing Round Led By Westbury Partners
--Round Includes Participation From Existing Investors Including 3i US, Matrix Partners and mortonsgroup LLC; Company Momentum Continues to Grow--
COLORADO SPRINGS, Colo., July 29, 2003 - Intelliden Corporation, a leading provider of intelligent networking software solutions, today announced that it has secured $12.5 million in Series C financing, led by Westbury Partners, and including 3i US, Matrix Partners and mortonsgroup LLC.
“Intelliden gets it. They understand IP networking. They understand software. And they understand customer service,” said Mike Gibson, head of Business Transformation, BT Ignite. “Working with Intelliden as one of our key suppliers, we can increase our operational efficiency while providing faster, more reliable service provisioning for our customers.”
Intelliden will use the capital to support its customer growth and accelerate its leadership in providing intelligent networking software solutions to service providers, enterprises and government organizations. The growth in data traffic has exploded in recent years, and managing this growth and leveraging IP networks is a serious challenge for most organizations in their quest to increase margins and reduce costs. Intelliden software solutions enable networks to operate more intelligently by dynamically responding to business goals, automating network change management, optimizing network resources, streamlining processes and enforcing business policy in network operations. Customers can more effectively run their complex IP infrastructures while increasing customer satisfaction, boosting revenue, lowering costs and accelerating long-term business objectives.
“Intelliden is a very attractive investment for Westbury Partners. The company has a strong heritage of innovation and achievement,” said James W. Schubauer II, president, Westbury Partners. “Their software solves a very compelling IP networking pain point for service providers, enterprises and government agencies. We’re excited to join the Intelliden team and look forward to helping them grow even faster.”
Intelliden has industry-leading customers in key market segments including financial services, defense, telecommunications and government. Intelliden’s partner program includes companies such as Cisco Systems and IBM, among others. Intelliden has more than 30 patents pending on its software solutions.
The Yankee Group recently identified Intelliden as a leading provider of enterprise and service provider network management solutions. A recent report by the analyst firm titled, “Is It Time for Service Activation and Configuration Management to Trade Places?” notes that “Intelliden appears to be the only provider that is focused on the enterprise and communication service provider markets with scalable solutions and a comprehensive set of capabilities.” Intelliden has also received recognition as a Network World “Start-Up to Watch.”
“This recent round of financing is testament to the strength of our customers, our partners, our people, our technology and our market opportunity,” said Dale Hecht, Intelliden president and CEO. “Intelliden’s founding team has over 150 years of IP networking experience in building and running some of the world’s largest IP networks, our standards-based technology is protected through our patents pending, we have a $2 billion market opportunity, our partners are the best in the business, and our growing customer base includes major companies in the Global 1000.”
Intelliden is also accelerating its global expansion with the opening of its European office in London. Through its subsidiary called Intelliden Limited, the company will provide sales and service support for its European enterprise, service provider and government customers. Ravi Pather has been appointed vice president of Intelliden Limited. Pather served most recently as general manager, northern Europe, for Versata.
About Intelliden
Intelliden’s intelligent networking software solutions enable service providers, enterprises and government organizations to more efficiently run their complex IP infrastructures while increasing customer satisfaction, boosting revenue and accelerating long-term business objectives. Developed by Intelliden engineers who have built and managed some of the world’s largest IP networks, the Intelliden R-Series™ aligns networks and IT resources with business process and priorities, while automating key functions, eliminating manual processes, streamlining disparate procedures and resolving network problems before they result in business loss. Headquartered in Colorado Springs, Colo., Intelliden has offices in Boston, Los Angeles, Washington, D.C., and London. For more information, visit www.intelliden.com.
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Intelliden and the Intelliden R-Series are trademarks of Intelliden Corporation. All other trademarks in this document are properties of their respective owners.
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