Venture Capitalists LMS Capital and Octopus Ventures seize the opportunity to fund CopperEye's Quantum Leap Indexing Technology
17 October 2001 -- Bath, UK -- CopperEye, the developer and supplier of a revolutionary new technology in data indexing solutions that significantly enhances database performance, today announced that it has closed its second round of funding of £1.9 million (GBP). This funding is expected to take CopperEye into profitability by Q3 2002. CopperEye selected the Venture Capitalists LMS Capital and Octopus Ventures after evaluating a number of VCs.
Nick Habgood, who led the investment on behalf of LMS Capital, said: "We are delighted to be involved with CopperEye. Even though the general marketplace is depressed, we are convinced that CopperEye has a 'quantum leap' technology as well as a strong, solid management team with an excellent business plan. We believe that this combination will ensure the organisation will flourish, even in these difficult market conditions. CopperEye is certainly a company to watch."
Nick Habgood joins CopperEye's Board of Directors with immediate effect.
Octopus Ventures agrees that CopperEye is an organisation that has a bright future. Octopus has taken the opportunity to invest in CopperEye for a second time. Simon Rogerson said, "We wanted the opportunity to further our investment in CopperEye. Octopus sees this technology as fundamentally important to the future of business computing. We consider the technology and the management team at CopperEye a winning marriage and look forward to our continued involvement in its future."
"We are very pleased with the response we achieved when looking for second round funding and welcome our new investors. In today's difficult climate, to have had our choice of Venture Capitalists is quite an achievement. This is, I think, wholly due to our proven technology and potential future of our business," said John Tucker,Founder and CEO of CopperEye. "CopperEye is growing in line with our business plan and we believe we will achieve our mission to be the leading provider of high performance indexing technologies complementary to the database market," he concluded.
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About LMS Capital
LMS Capital is the venture capital division of London
Merchant Securities plc (LMS) a public FTSE 250 company listed on the London Stock Exchange. LMS has been investing in early-stage technology ventures for more than 15 years. LMS Capital based in London and with operations in San Francisco has in recent years increased its activities in the UK, with investments in the areas of communications, internet infrastructure, software and e-commerce.
About Octopus Ventures
Octopus Ventures is an early-stage venture capital firm based in London. The Octopus team invests solely in the Technology and the Bioscience sectors, specifically in companies with excellent intellectual property and a global market place for their products.
CopperEye Ltd is an international developer and supplier of revolutionary products that significantly accelerate operations within new and existing relational database systems. It offers an innovative technical solution that provides a substantial impact on business competitiveness and operational performance. CopperEye has invented and patented a totally new type of "data indexing" solution. It represents a "quantum leap" in data indexing technology. Called Adaptive Addressing, the company currently has two core products:
* Intelligent Indexing - a solution that can improve existing Oracle relational database performance by up to ten times*. This is achieved by directly replacing existing conventional indexes within an application.
* Custom Indexing - a full set of APIs that enable application developers to easily create new custom solutions. This technology out-performs existing conventional indexes and is easily integrated, resulting in increases in performance of up to forty times*
*in test environments within CopperEye.
By dramatically improving relational database performance, the solutions provide increased availability of information, unprecedented speed and business efficiency, as well as significant cost benefits.
CopperEye is headquartered in Bath, UK. For further information visit: http://www.coppereye.com
Copyright (c) 2001 CopperEye Ltd. Adaptive Addressing and Intelligent Indexing are trademarks and/or registered trademarks of CopperEye Ltd. All other brand and product names are trademarks of their respective owners.
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