Orchestria Secures Million Investment to Accelerate Growth
Orchestria Secures $10 Million Investment to Accelerate Growth
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26 January 2004 – Orchestria Corporation, a provider of real-time visibility
and control solutions for email, the Web, instant messaging and other
electronic communications, today announced that it has secured a further
US$10 million in funding led by Constellation Ventures. Existing investors
Benchmark Capital, Doughty Hanson Technology and Crossbridge Venture
Partners all participated in the Series C round. The funds will be used
to build on Orchestria’s success in the financial services market, enabling
further expansion in North America, Europe and beyond, where it will
capitalise on strong global demand for regulatory compliance monitoring
software.
“We have searched long and hard for a real leader in this sector, and are
delighted to be able to complete an investment in Orchestria”, said Virginia
Turezyn, Managing Director, Constellation Ventures. “Not only does
Orchestria have superior technology and a compelling value proposition, but
its highly professional approach has allowed it to secure seven figure deals
in challenging market conditions”. Ms Turezyn joins Bruce Dunlevie, George
Coelho, George Powlick and Founder and CEO Peter Malcolm on Orchestria’s
Board.
Introduced just as the Enron scandal broke, Orchestria APM has found a ready
market among companies in highly regulated industries that are battling to
stay on the right side of the regulators. Several of the world’s largest
global investment banks already use the product, and Orchestria continues to
experience strong demand from the financial services industry and other
regulated sectors.
Orchestria was founded in 2000 by Chief Executive Officer Peter Malcolm, a
technology industry veteran who is named as inventor in more than 100
software patents. Its flagship product, Orchestria Active Policy Management
(APM), monitors and controls the content and context of incoming and
outgoing email, instant messages and Web activity, and alerts users of
possible violations of trading laws and industry regulations before the
message becomes a discoverable event. Users and/or compliance officers can
then review, amend or abandon the message before any damage is done.
“There is an immediate and pressing need for systems that prevent regulatory
compliance breaches in real-time,” said Peter Malcolm, founder and CEO of
Orchestria. “While email monitoring systems can only identify a breach
after it has occurred, the intelligence in our product prevents breaches
from occurring in the first place. The intensified regulatory climate has
stirred up a great demand for software like ours, and these funds will allow
us to move quickly and assuredly to meet that demand.”
Read more about Orchestria’s investors at
www.orchestria.com/company/investors.
About Orchestria
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Orchestria is the leading innovator in technology that provides
unprecedented levels of real-time visibility and control of all electronic
communications, including email, the Web and instant messaging. This process
is known as Active Policy Management (APM).
Orchestria's APM solution dynamically applies specific and explanatory
policy at the point of interaction, which means that non-compliant events,
such as information boundary breaches, document-sharing violations or
inappropriate disclosures are determined and filtered as they occur.
Orchestria APM has been deployed by some of the world's largest
corporations, including Wall Street banks, which face an increased
regulatory environment since the introduction of legislation such as the
Sarbanes-Oxley Act (SOX) and SEC/NASD regulations. Its pioneering
technology: analyzes content, context and concepts; enforces corporate
policy; lowers risk; eliminates unauthorized data loss; and ensures
regulatory compliance.
Founded in August 2000, Orchestria has offices in New York and London, and a
dedicated development facility based in Taunton, UK. It is a privately held
company. More details can be found at www.orchestria.com.
About Constellation Ventures
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Constellation Ventures, a Bear Stearns Asset Management Venture Capital
Fund, manages $450 million in venture capital through offices in New York
and Tokyo . The fund invests between $5 and $25 million in early to
mid-stage companies that enable the distribution, management and control of
information over emerging digital networks. Constellation Ventures provides
its portfolio companies strategic value-added services by leveraging its
Limited Partners that include Bear Stearns, Sony, Viacom, Young & Rubicam,
Tribune, Dai Nippon Printing, NTT Data, Acxiom, Toyota and Singapore
Technologies. For more information, please visit
http://www.constellationventures.com.
For more information:
Hazel Butters or Fiona Campbell-Howes at Prompt PR
Tel: +44 (0) 208 296 1887
Fax: +44 (0) 208 891 5027
Out of hours: + 44 (0) 7780 687813
hbutters@prompt-pr.com / fcampbell-howes@prompt-pr.com
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