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Clovis Solutions Secures $11m Series B Funding From American River Ventures, Intel Capital, Sevin Rosen Funds, and Walden International

Posted on: Wednesday, 8 June 2005, 06:00 CDT

Clovis Solutions, provider of system infrastructure software to the communications industry, announced today that it has secured a $11m Series B round of funding from American River Ventures, Intel Capital, Sevin Rosen Funds, and Walden International, along with many of the original seed investors. The Clovis Solutions System Infrastructure SW Platform (SISP) product consists of an extensive set of element, system, platform, and high availability management modules running on an information model driven core infrastructure.

"With this round of funding Clovis will continue building its product acceptance momentum with the expansion of sales, marketing, and support," stated V.K. Budhraja, Clovis founder and Chief Executive Officer. "The ability to expand our reach across multiple market segments is an important step in achieving the long-term goals we have set for the Clovis team."

"We backed the Clovis team because solution providers from around the world are recognizing the value of the SISP architecture and implementation that provides end-to-end management across their data, control, management, and service planes," said Steve Dow, General Partner, Sevin Rosen Funds. "The market demand for commercial off-the-shelf solutions like SISP is staged for sustained growth."

"Intel Capital's investment in Clovis Solutions is consistent with Intel's commitment to open standards based commercial off the shelf platforms that enable the communications industry," said Ton Steenman, general manager, Modular Communications Platform Division (MCPD).

As a result of using the innovative System Infrastructure Software Platform (SISP) product from Clovis Solutions, NEPs, TEMs, and even Service Providers could gain a competitive advantage in this fast moving and converging communications market segment.

The Clovis Solutions System Infrastructure SW Platform (SISP) product can be seen integrated with IBM's Integrated Platform for Telecommunications (IPT) and Hewlett Packard's Advanced Open Telecommunications Platform (AOTP) at SuperComm 2005 in the Service Availability Forum's booth # 71022.

About Clovis Solutions, Inc

Founded in 2002, Clovis is leveraging more than 500 years of collective communications systems expertise to revolutionize the development and deployment model for next generation communication systems. Clovis Solutions delivers end-to-end management software that enables solution integrators, network equipment manufactures (NEPs), and telecommunication equipment manufactures (TEMs) to deliver their value faster, with significantly less R&D dollars. Clovis Solutions is headquartered in Petaluma, California's Telecom Valley, with a substantial R&D facility in Bangalore, India.

About Sevin Rosen Funds

Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. Compaq, Lotus, Cypress, Electronic Arts, SGI, Citrix and CIENA are representative of some of the firm's successful IPOs. For more information, please visit www.srfunds.com.

About Intel Capital

Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital.

Source: Business Wire

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