Contact Information: Press Contact: Joline Biancavilla BridgeView Marketing (for SevOne) Joline@bridgeviewmarketing.com (603) 978-4491
SevOne Secures Funding From Osage Partners to Further Advance Its Performance Management Market Leadership
New Funding to Accelerate Growth in Global 2000, Federal Government and Service Provider Markets and to Support Ongoing Development of New Products
| Source: SevOne
NEWARK, DE--(Marketwire - April 22, 2009) - SevOne, an innovator in network, server and
application performance management solutions, today announced that it has
completed a Series B investment of $2.0 million led by Osage Partners, a
Philadelphia-based venture capital fund focused on emerging technology
companies. SevOne will utilize the additional funding for several strategic
growth initiatives, including ongoing product development, expansion of
resources for research and development of new technologies, and aggressive
new vertical marketing and sales endeavors aimed at Global 2000 enterprises
and federal government agencies and service providers.
"This latest round of funding reflects our success and momentum in the
performance monitoring market," said Michael Phelan, CEO and president of
SevOne. "While we are a profitable company that continues to secure new
customers in a challenging economy, the support of Osage Partners allows us
to accelerate the execution of our strategy within new markets and
positions us for both short-term and long-term success."
Among other strategic initiatives, SevOne will leverage its new funding to
enhance the award-winning network, server and application performance monitoring
framework, Performance Appliance Solution (PAS). Future PAS
features and capabilities will include a new reporting engine with
drag-and-drop capabilities; global and personalized reporting dashboards;
optimized NetFlow reporting engine; a new graphing engine, and enhanced
analytics functionality, capable of dynamically provisioning performance
thresholds based on past performance, with extremely high granularity.
SevOne recently announced a year-over-year revenue growth rate of 400% and
that it secured Comcast, Kohler, Goodyear, Sterling Commerce, Nestle
Purina, plus 3 of the world's top ten financial services institutions as
new customers. Also, the company's Performance Appliance Solution recently
received industry recognition by winning Internet Telephony Magazine's
Product of the Year Award, Technology Marketing Corporation's (TMC)
Unified Communications Product of the Year Award
and eWeek's 2009 "Product to
Watch" honor.
To view a demonstration of SevOne's Performance Appliance Solution, please
visit http://www.sevone.com/demo-web.html. The demonstration illustrates
real-world solutions to a variety of performance monitoring challenges
including how a customer can identify a spike in network utilization and
drill into Netflow data to rationalize what type of application traffic
caused the spike.
"SevOne has proven its industry leadership by winning awards, developing
new partnerships and growing its customer base in a difficult market," said
Robert Adelson, managing partner at Osage Partners. "Their ability to
transition major enterprise, federal government and service provider
customers to new technologies that improve business processes and reduce
power consumption makes SevOne well-positioned in a rapidly growing
market."
Osage Partners, through its fund, Osage Ventures II, is an ongoing investor
in SevOne, having led the Series A preferred investment in the company in
September 2007.
About Osage Partners
Osage Partners is a Bala Cynwyd, PA based investment firm which manages
three distinct venture capital and private equity funds investing across
distinct industries, stages, and geographies. The funds include: Osage
Ventures, which focuses on investing in early stage technology and
healthcare companies in the Mid-Atlantic region; Osage University Partners,
which partners with leading universities and serves as the co-investment
vehicle for universities in companies based on their technology; and Osage
Industries, which focuses on middle market buyouts in the manufacturing
sector. Additional information is available at www.osagepartners.com.
About SevOne
SevOne, Inc. is a network performance management company dedicated to
providing next-generation tools and services that enable enterprises,
service providers, cable MSOs, and federal government agencies to keep
increasingly complex networks, servers and applications functioning at peak
performance levels. Based on a scalable and flexible modern software
architecture incorporating open web-services API, Web 2.0 GUI and
peer-to-peer clustering, the SevOne solution provides managers, architects
and engineers with the most accurate and timely data available to ensure
enterprise-wide network performance and reliability. For more information
please visit www.sevone.com or call 302-368-5650.