Cape Clear Software Secures $15 Million in Series D Funding
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InterWest Partners Leads Round; Funding to Support ESB Provider's Growth
and Global Expansion
LONDON, UK - April 21, 2006 - Cape Clear Software (www.capeclear.com) has successfully secured $15 million in a series D round led by Menlo Park, Calif.-based InterWest Partners, a new investor in Cape Clear. The round also includes investments from Accel Partners, ACT Venture Capital and Greylock Partners, all repeat investors. The new funding will be used to support Cape Clear's global expansion and continued growth in the Service Oriented Architecture (SOA) market.
"Cape Clear has secured a leading position in its field based on the core values of open standards, infrastructure agnosticism and a commitment to increasing developer and administrator productivity," said Annrai O'Toole, CEO, Cape Clear Software. "Our reputation, earned from successful customer deployments, is why we have attracted top-tier investors such as InterWest Partners."
Cape Clear offers the world's only true Enterprise Service Bus (ESB), based completely on Web Services and open standards, and designed to leverage existing IT systems. The company's unique approach to SOA continues to draw industry recognition and customer adoption. To support the activity this recognition brings, the new funding will be
used for global expansion and extending the technology lead Cape Clear has achieved. In particular, it will enable the company to open new offices throughout the United States, Europe and the Asia Pacific region, in addition to maintaining the ongoing development of its existing locations in Waltham, Mass., Atlanta, San Mateo, Calif., Dublin and London.
The lead investment is from InterWest's $600 million ninth fund, known as IW IX, which focuses on early-stage life sciences and information technology companies. The ninth fund was created for information technology investments in the areas of technology enabled services, infrastructure systems and semiconductors and component technologies.
As part of the investment, Steve Bowsher, General Partner with InterWest, will join Cape Clear's board of directors. Bowsher concentrates in the enterprise software and Internet sectors and currently sits on the boards of PAR3 Communications and Symphoniq. He also manages InterWest's investment in MarketTools, OutStart and
Loancity. Prior to InterWest, Bowsher worked at E*TRADE, managing the
company's value-added products and services.
"Cape Clear's advancements in its products and technology and ever-growing client roster piqued InterWest's interest, and made for an easy decision to invest in the company and help guide this growth," said Bowsher. "Success breeds success, and this has made Cape Clear a very attractive prospect for us and our co-investors. This latest round of funding will ensure Cape Clear increases the distance between itself and its competitors both in terms of developing its technology and partnerships, and in growing its presence globally."
About Cape Clear Software
Cape Clear Software provides the fastest, simplest, and most proven way to implement a Service Oriented Architecture, delivering enterprise SOA projects in 20 percent of the time and cost of alternative approaches. With over 200 customers, Cape Clear is the proven leader in Enterprise Service Bus (ESB) software. Cape Clear's True ESB software is based completely on open standards, works with your existing infrastructure, and enables business users to flexibly align their business processes
with their infrastructure. Founded in 1999, Cape Clear Software is a privately held firm with headquarters in Waltham, Mass. and offices in Atlanta, San Mateo, Calif., Dublin and London.
For more information on Cape Clear Software, visit: www.capeclear.com.
About InterWest Partners
InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. Currently investing its ninth fund, IW IX, a $600 million fund, InterWest has more than $2 billion of capital raised since inception. InterWest has 16 investing partners in Menlo Park, CA and Dallas, TX, who bring together
deep domain knowledge in life sciences and information technology.
The firm's investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), Cyrix (CYRX; acquired by National Semiconductor (NSM), Lightera (acquired by CIENA), PlaceWare (acquired by Microsoft, MSFT), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI),Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).
Contacts:
Jonathan Simnett
Chameleon PR
Tel: +44 (0)7976 227224
jonathan@chameleonpr.com/
Philip Briscoe
Cape Clear Software
Tel: +44 (0)208 899 6756
philip.briscoe@capeclear.com/
Rachel Bibby
Chameleon PR
Tel: +44 (0)7989 965988
rachel@chameleonpr.com/
Binay Curtis
InterWest Partners
Tel: +1 415 383-7243
bcurtis@interwest.com/
