BEZ Systems Secures $7.5 Million in Series C Financing Led by Ascent Venture Partners
Funds will Propel Company Growth and Enhance Market Penetration
Boston, MA USA – September 18, 2006— BEZ Systems, an innovator in the emerging market for Proactive Performance Management (PPM) solutions today announced it has raised $7.5 Million in Series C preferred financing from proven and successful software industry investors. The funds will be used for working capital, further development of its flagship product BEZProphet™ and to develop new products that capitalize on BEZ’s pioneering position in PPM software with advanced analytics and predictive technology.
At the core of the PPM platform is a profiling and prediction engine that gathers performance data from the environment and continuously builds and calibrates individual service delivery profiles by user-defined lines-of-business. These comprehensive profiles measure current vs. planned service delivery and can be analyzed in real time to provide near term forward-looking views of possible service breaches that help IT management understand and manage change by anticipating performance problems before they become major performance crises.
The BEZ PPM platform was designed to be an extension to existing environments. It includes specifications for a scalable, flexible and extensible services-oriented architecture using open software standards with web-based UI, ease of installation and use. The service oriented design allows the PPM platform to cooperate with existing data sources and technologies from other vendors. Future product offerings from BEZ will embed key elements of the PPM platform to focus on the multiple service segments within application delivery, for example, in data delivery and processing delivery.
According to F. Daniel Haley, BEZ President and CEO, “Our dual commitment to our customers and to further 3rd party integration puts us in a position of strength for the future. It allows us to deliver the types of products that our customers want in a form that makes immediate sense to them. This financing will help us continue to fulfill enterprise demands for justifying infrastructure investments based on quantitative analysis while realizing maximum value from existing capacity.”
The financing was led by Ascent Venture Partners whose Managing Director, Christopher W. Dick, will join the BEZ Systems Board of Directors. Brooke Private Equity Advisors, JMI Equity, the Massachusetts Technology Development Corporation and Velocity Equity Partners also participated in the current round. Ascent Venture Partners is a new investor in BEZ, while the others have previously contributed to the Series A and Series B financing rounds.
BEZProphet helps database managers proactively align service delivery with business requirements. It empowers DBAs to manage future change, set realistic expectations, justify corrective actions and help ensure the delivery of consistent, uninterrupted data service to the business at the lowest cost.
About BEZ Systems
Since 1993, BEZ Systems has been offering innovative Proactive Performance Management solutions that provide a line-of-business view of application performance, resource utilization and data usage for today and tomorrow. BEZ solutions work cooperatively with existing performance tools to allow enterprises to accurately predict the impact of expected changes, evaluate alternatives, and justify solutions ensuring delivery of consistently acceptable data service levels.
About Ascent Venture Partners (www.ascentvp.com)
Since 1985, Ascent Venture Partners has been dedicated to partnering with seasoned management teams to build successful technology companies. Ascent is an active investor, offering strategic advice, leveraging its broad network and working patiently with portfolio companies to overcome challenges.
About Brooke Private Equity Advisors (www.brookepea.com)
Brooke Private Equity Advisors (BPEA) is a leading private equity firm focused on investing in a variety of stages and industries, including consumer, services, manufacturing and information technology.
About JMI Equity (www.jmi-inc.com)
JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on investments in the software and business services industries.
About Massachusetts Technology Development Corporation (www.mtdc.com)
The Massachusetts Technology Development Corporation is a leading edge venture capital firm that addresses the “capital gap” for start-up and expansion of early-stage technology companies operating in the Commonwealth of Massachusetts.
About Velocity Equity Partners (www.velocityep.com)
Velocity Equity Partners is a private venture capital firm investing in early stage growth companies primarily in the Northeast.
For Further Information
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