8th April 2004
SteelEye® Receives Investment from SAP® Ventures
SteelEye Solutions for Business Continuity and Disaster Recovery Critical To Accelerating Deployments of Linux® and Windows® Business Critical Applications On Industry-Standard Servers
Investment Round Includes Full Participation By Existing Venture Capital Investors Including Venrock Associates, Dali Hook Partners, Massey Burch Capital Corp., and CrossBridge Venture Partners
Mountain View, California – 8th April, 2004 – SteelEye Technology® Inc., a leading provider of proven enterprise IT reliability solutions for business continuity, today announced that it has secured an investment from SAP Ventures, the venture capital arm of SAP AG, the world's leading provider of business software solutions.
Joining SAP in this venture round are all of SteelEye’s existing venture capital investors, including Venrock Associates, Dali, Hook Partners, Massey Burch Capital Corp., and CrossBridge Venture Partners.
The proceeds from this round of funding will be used for development of new SteelEye solutions to support key applications and technologies, including SAP NetWeaver™; and to accelerate SteelEye’s continued growth in key markets, including North America, Europe and Asia-Pacific, with particular focus on leveraging channels of regional distribution in those markets.
"As companies migrate their IT infrastructures from Unix/RISC to Intel 32-bit and 64-bit architectures, to gain the tremendous price/performance advantages of industry-standard servers, fault resilience and disaster tolerance is high on the CIO agenda to assure continuity of ERP, CRM, and other business critical enterprise applications,” said Jeffrey Nolan, partner at SAP Ventures. "SteelEye is well positioned with a solid reputation, powerful proven technology, and strong channel partnerships with IBM and HP with which to meet this demand."
"The SteelEye strategy is simple – delivery of packaged and customizable application-centric solutions that are channel friendly to ensure high availability of business critical applications on commodity, industry-standard servers,” said Paul Adams, SteelEye’s president and chief executive officer. “SAP’s investment is a significant vote of confidence in our business strategy, and this investment round will enable us to accelerate our go-to-market activities, strengthen our strategic partnerships, and increase our worldwide market reach across the leading brands of IBM® xSeries® and HP ProLiant industry-standard servers.”
About SAP Ventures
SAP Ventures is the venture capital affiliate of SAP AG (NYSE: SAP), the world's leading provider of business software solutions. SAP Ventures manages a portfolio of financial investments in the enterprise applications and infrastructure market spaces.
About SteelEye Technology, Inc.
SteelEye is a leading provider of enterprise IT reliability solutions for business continuity and disaster recovery. The SteelEye LifeKeeper family of application-centric data protection, high availability clustering and disaster recovery solutions are easy to deploy and operate, and enable enterprises of all sizes to ensure continuous availability of business-critical applications, servers and data.
SteelEye LifeKeeper offers enterprise-grade reliability while simplifying implementation with certified support for a wide range of applications, databases, servers and storage options in Windows and Linux environments, including mySAP® Business Suite, Oracle®, DB2®, Microsoft® SQL Server, and Microsoft Exchange.
SteelEye LifeKeeper for mySAP Business Suite is fully mySAP-compliant, and is supported under the terms of an ongoing Development Cooperation and Support Agreement between SteelEye and SAP AG.
Among its many business and technology partnerships, SteelEye is an Advanced member of IBM’s PartnerWorld®, and SteelEye LifeKeeper products are IBM ServerProven®, TotalStorage® Proven and ClusterProven® on IBM xSeries® servers.
To complement its software solutions, SteelEye also provides a full range of high availability consulting and professional services to assist organizations with the assessment, design and implementation of solutions for ensuring High Availability within their environments.
SteelEye products and services are available worldwide, and may be purchased directly from SteelEye or through our international network of reseller and systems integration partners. SteelEye is headquartered in Mountain View, California. For more information, please visit www.steeleye.com.
Rose Ross and Hannah Knowles
T: +44 (0)20 8255 5225
SteelEye Technology, Inc.
T: +1 (650) 237-2408
# # #
SteelEye Technology, SteelEye and LifeKeeper are registered trademarks of SteelEye Technology, Inc.
SAP, mySAP and NetWeaver are either registered trademarks or trademarks of SAP Corporation.
All other product or service names may be registered trademarks or trademarks, and are the property of their respective owners.
This press release was distributed by ResponseSource Press Release Wire on behalf of Omarketing Limited in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.