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uXcomm Secures $13.6 Million in Series B Financing to Meet the Demand for Embedded Automated Systems Management; Intel Capital Joins Foundation Capital and OVP Venture Partners in Support of uXcomm's Momentum and Growth

Posted on: Monday, 17 July 2006, 09:00 CDT

uXcomm, the leading provider of embedded systems management development and deployment platforms for information appliance manufacturers and system builders, today announced it has secured $13.6 million in Series B financing from Intel Capital, and existing investors Foundation Capital and OVP Venture Partners. Proceeds of this round, which increases uXcomm's total funding to over $20 million, will be used to further product development, increase sales and marketing activities, and expand global operations.

"uXcomm is clearly meeting market demand for innovative and proven network and system management technologies," said Dave Chen, general partner at OVP Venture Partners. "By enabling device manufacturers to embed systems management capabilities in their products before they reach a customer's data center, uXcomm is quickly becoming a critical partner for companies in commoditized markets such as servers, storage, routers and specialized appliances. uXcomm's proven product offerings and experienced management team position the company to quickly become the leading provider of embedded, automated systems management solutions."

uXcomm's leading product line, the XManage Product Suite(R), is designed and built to empower server, network element, storage and applications system builders to develop and deploy "in-the-box" management solutions quickly, easily and economically. To date, customers who have developed and deployed system management infrastructure and applications for their products have seen time and cost savings of over 400 percent, enabling them to quickly bring to market differentiated, competitive products.

"This round of funding is a solid endorsement for the company, its strategy and execution," said Bob Van Steenberg, CEO of uXcomm. "Increasing pressures on IT managers to connect and manage more diverse devices with fewer resources makes it critical that system builders embed automated system management capabilities into their products. uXcomm is the only company providing a robust, modular, and easily extensible platform that ensures that any device is inherently manageable, no matter how simple or complex."

uXcomm Poised to Meet Exponential Market Growth

EMA Research estimates that data center management spending will increase to between $21.5 billion - $24.0 billion in 2006, with near term growth in this industry segment upwards of 10 percent Compound Annual Growth Rate. uXcomm's flexible and customizable architecture, combined with its unique business model of delivering system management at the device level, position it well for capturing significant marketshare.

Evidence of uXcomm's momentum include:

-- Annual growth projected at over 400 percent;

-- A 36 percent increase in revenue in Q2 2006 over the previous quarter;

-- Global expansion through partnerships with Asia Pacific Ventures and Providence Solutions to penetrate the Asian marketplace;

-- Opening development centers in San Jose, Portland and Beijing.

About uXcomm

uXcomm supplies system designers of every type with the market's first and only comprehensive OEM systems management development and deployment environment. Built to meet the time-to-market and ease-of-integration demands of platform, systems and appliance technology houses, uXcomm's XManage product suite allow customers to assemble, in weeks, robust system management infrastructure and applications for their products.

Based upon a state-of-the-art XML-driven service oriented architecture, XManage supports all major system management interfaces and can be quickly adapted and extended to manage any hardware or software subsystem. uXcomm-based system management devices not only produce well-managed servers, platforms and devices, but guarantee they integrate well into the larger heterogeneous systems and network management environments of corporations, service providers, network operators and government agencies. uXcomm customers range from server and embedded network device manufacturers to specialized VARs providing solutions to the largest financial service companies in the world. For more information, please call (503) 748-6411 or visit www.uxcomm.com.

About Intel Capital

Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.

Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom.

About Foundation Capital

Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in telecommunications and networking; Internet infrastructure; and enterprise software and on demand services. Foundation Capital funds total more than $1.6 billion. For more information, visit www.foundationcapital.com

About OVP Venture Partners

Over its 23-year history as an early-stage venture firm, OVP has been funding industry leading start-ups in the Pacific Northwest. In that period, OVP has invested in almost 100 companies and has driven 22 successful IPO's and 28 mergers and acquisitions. The firm currently has $700 million in capital under management having recently raised its seventh venture fund. OVP seeks opportunities that are at the intersection points between the market's next big waves and those technology strengths native to the region. OVP's focus is on investments in the areas of the network edge and mobility, the corporate data center, imaging and the digital home, computational biology, and nanotechnology. For more information, visit: www.ovp.com.

Source: Business Wire

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