Software Anti-Piracy Firm Bit-Arts Raises $2.5 million Funding Tuesday 10 July 2001 PDF Print 10 July 2001 -- Bit-Arts, the Nottingham based digital copyright protection company, today announced that it has raised $2.5 million in a second round funding exercise. The investment is being made by a group of private investors, which includes Second Focus Investment Limited, a company led by City investor Godfrey Bradman. Bit-Arts, which recently recruited the former US Under Secretary of Commerce for Technology as chairperson, Dr Cheryl Shavers and serial entrepreneur Danny Chapchal as chief executive, will use the investment to accelerate its aggressive research and development approach and build a sales and marketing organisation. World-renowned eTesting Labs, the leading software testing house, has validated a long list of copy protection features in Bit-Arts’ flagship copy protection and digital rights management technology. More than a third of all business software is pirated, according to the Business Software Alliance. The group estimates that piracy cost software makers almost $12 billion last year. Software vendor Adobe claims that software piracy costs it $500m per year in lost revenue. Bit-Arts believes that its copyright protection software could totally eradicate software piracy. Bit-Arts, developers of the world’s uncracked protection system, is focused on the development of protection, security and encryption software providing solutions for the secure delivery of software applications and digital content. Its core encryption technology works by providing a secure software ‘wrapper’ around applications and digital content based on the principles of mutation engines. “The private equity market has dried-up as far as the majority of technology companies are concerned. Private investors and venture capitalists alike are running away from hi-tech deals. This investment from a high-profile City investor is a huge vote of confidence for Bit-Arts,” said Danny Chapchal, chief executive, Bit-Arts. About Bit-Arts Bit-Arts is a software development company that is focused primarily on the development of protection, security and encryption software providing solutions for the secure delivery of software applications and digital content, digital rights management and license management over the Internet. Bit-Arts’ suite of products incorporate the functionality for the successful management and distribution over the Internet of secure and protected software and digital content, copyright and licensing protection as well as the collection of royalties from such content. The company was founded in 1998 by Chief Technology Officer, John Safa and now boasts an impressive management line-up which includes Danny Chapchal as CEO and Dr Cheryl Shavers, former US Undersecretary of Commerce for Technology in the Clinton Administration, as Chairperson. Bit-Arts is headquartered in Nottingham, UK, with customers in more than 65 countries. Bit-Arts has patents pending on ten core technologies, the basis of the company’s unique digital security offering. For more information visit: http://www.bit-arts.com This press release was distributed by ResponseSource Press Release Wire on behalf of Speed Communications in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.