Managed Objects Completes Series F Round of Funding to Fuel Further Expansion
Intel Capital joins other venture capital investors in Managed Objects
MCLEAN, Va., September 18, 2006 - Managed Objects, the Business Service Management Company, announced that it has closed a $7M round of Series F financing from Intel Capital, and current investors Lazard Technology Partners, JMI, FT Ventures, Horizon Technology Finance, and an individual investor. Managed Objects will use the funding to provide the necessary working capital to support the company's technology acquisition program and future expansion plan.
"We are very proud to add Intel Capital to our prestigious list of investors," said Siki Giunta, president and CEO of Managed Objects. "These new funds will allow us to aggressively pursue new market segments, while maintaining customer focus on the business service management needs of the Global 2000 companies we serve today. With a strong customer pipeline and solid plans to support our rapid growth, we are extremely excited about our company's future."
Managed Objects' Business Service Management (BSM) software aligns IT with the business by integrating network, system, application, end user, and business metric information into real-time dashboards--allowing companies to cohesively monitor, manage and report on the services IT delivers to the business - services like online trading and e-commerce.
"Increasingly, IT professionals face the dilemma of pulling together multi-source service management data while efficiently responding to business user demands," said Scott Darling, Vice President, Intel Capital. "Managed Objects' comprehensive Business Service Management platform, based on open software standards and configurations, helps IT professionals assemble this information more easily while delivering critical services-key to enabling cost reductions and higher customer satisfaction."
The increased demand for business service management has greatly driven Managed Objects' rapid growth in recent years. A number of industry analysts and pundits forecast continued strength in the BSM market segment.
In a recent report, IT Asset Management, ITIL, And The CMDB: Paving The Way For BSM, Forrester Research, Inc., October 2005, Forrester Research wrote "We believe that BSM will increasingly become the end goal for organizations...The BSM side of the market will continue to be a dynamic area of high innovation, particularly around better defining business processes, dynamically mapping business needs to IT services, and enabling true end-to-end service delivery chains for the extended enterprise."
To support the needs of global customers, Managed Objects now has offices throughout the world, including the US, UK, Germany, France, and China and has opened a new development center in the UK.
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.
About Managed Objects
Managed Objects is the Business Service Management Company. Companies use our solutions to more effectively monitor, manage, and model their IT enterprise. Our unique service perspective overlays existing management tools so complex IT infrastructures can be managed, not as a set of components, but rather as the set of services that IT delivers to the business - services like order processing, e-commerce, online trading, or email. Companies that use Managed Objects realize measurable improvements in IT service quality, cost savings, and increased IT responsiveness.
A venture-backed company headquartered in McLean, VA, with operations in the U.S., Europe, and Asia Pacific, Managed Objects is consistently acknowledged by leading industry analysts as well as industry leaders like AIB, CSC, Credit Suisse, DISA, Fidelity Investments, JPMorganChase, Progress Energy, Reuters, TIAA-CREF and other global organizations who rely on Managed Objects BSM technology. For more information, visit www.managedobjects.com.
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