Visionael Secures $16 Million In Second Round Of Funding; Investors Show Enthusiasm For Visionael By Participating In One Of The Largest Rounds Of Funding In Network Management
PALO ALTO, Calif.–(BUSINESS WIRE)–Aug. 9,1999–
Visionael Corporation, the market leader and pioneer in delivering proven solutions for Network Knowledge Management, today announced that it has completed its second round of venture funding by securing $16 million in financing.
This aggressive infusion of financing makes this one of the largest rounds of funding ever completed by a company in the network management market. Combined with previous investments, Visionael has raised a total of $21 million in financial backing. The amount of cash raised by Visionael reflects investor enthusiasm for this high-growth company.
The company’s impressive roster of investors includes GE Equity Capital Group, the private equity arm of GE Capital Services, VantagePoint Venture Partners, who led the first round of funding, and two new investors who participated in Visionael’s recent funding efforts: Capital Communications and CMS Affiliated.
“Visionael is proud to have secured one of the largest infusions of funding in the network management arena. We are also honored to have a high level of commitment from our top-tier investors,” said Marc Jones, Visionael President and CEO. “Visionael Net is an innovative and powerful system of data-driven software that allows users to plan, implement, and maintain complex voice and data networks.
“Visionael Net enables customers to improve service levels by providing a complete solution for designing, viewing, and controlling their networks. Furthermore, Visionael Net complements existing network management tools. The recent financing will enable us to continue our aggressive plans for developing solutions that address the needs of our growing and high-profile customer base and strengthening our market leadership.
“With the funding we will accelerate our expansion in Europe where we are already exceeding our goals and expand our worldwide marketing efforts with new brand and market development programs.”
“Proactive network design, documentation and management is a key segment in the multi-billion-dollar Business Oriented Network Management (BONM) market,” said Bob Lam, Vice President and Networking Software Analyst for Bear Stearns. “Visionael has the industry-leading solution which helps corporations and service providers alike improve their ROI by streamlining the workflow associated with changes to the networking infrastructure dictated by changing business requirements.
“Visionael Net can help established Fortune 1000 businesses remain competitive against the onslaught of internet start-ups by drastically reducing the time required to roll out new network-supported business initiatives.”
According to Pierre Belanger, President of Capital Communications CDPQ, “Visionael’s solutions go a long way toward solving the network management challenges of large and growing businesses. We are pleased to be able to invest in a market that has such a great growth potential.”
About Capital Communications CDPQ
Capital Communications CDPQ is a private investment subsidiary of the Montreal-based Caisse de depot et Placement du Quebec, Canada’s largest portfolio manager with net assets close to US$ 45 billion at the end of 1998. Capital Communications CDPQ currently manages a portfolio valued at US$ 1.3 billion. Their activities are international in scope with business partners located in the Americas, Europe and Asia.
The expertise of Capital Communications CDPQ spans the entire spectrum of the communications and telecommunications sectors, from narrowband and broadband wireless to cable distribution, fixed wireline operators, Internet, audio-visual production, publishing, broadcasting and multimedia.
More information is available on the Internet at http://lacaisse.com.
About CMS Affiliated
Headquartered in Philadelphia, Pennsylvania, CMS is a private investment bank serving high net worth entrepreneurs. CMS focuses on proprietary investment products in private equity, real estate and structured finance. The company can be reached directly at 215/246-3000 or via fax at 215/246-3083.
About Visionael Corporation
Visionael Corporation is the market leader and pioneer in delivering intelligent and innovative software solutions for the design, deployment and operation of complex, geographically distributed enterprise and telecom networks. Visionael delivers proven network knowledge management solutions that consolidate disparate heterogeneous network data, resulting in solutions that are responsive to changing business needs.
With its award winning, data-driven graphical software products and services, Visionael provides quality solutions to organizations looking to transform their business environments through the deployment of networking initiatives.
Worldwide customers include: leading Wall Street firms and telecommunications companies, government agencies, financial institutions, utilities, manufacturing companies, medical institutions, and universities.
Visionael has established a variety of strategic relationships with leading companies including: Cabletron, Cisco, HP, Oracle, Remedy, Sybase, and Tivoli, as well as leading consultants and professional service organizations.
For additional information about Visionael or Visionael Net, contact Visionael via telephone at 650/470-8920, via email at info@visionael.com, or visit our web site at http://www.visionael.com.
Visionael is headquartered in Palo Alto, and maintains regional sales and support offices in Tulsa, Oklahoma and Paris, France. It also has seven additional offices in the United States and Europe.
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