GKM Invests in OnPath (formerly Intellipath)
September 28, 2007 |
||
August 7, 2007 LUMBERTON, NJ - August 7, 2007 - IntelliPath™ Corporation, a provider of leading automated connectivity solutions, today announced that it has closed its Series A funding with $2.0 million financed by the prestigious venture capital firm, GKM Ventures, located in Los Angeles and Redwood Shores, California. This investment by GKM Ventures closes IntelliPath's Series A funding round at a total of $8.5 million. GKM Ventures now joins L Capital Partners and Blueprint Ventures as Series A investors in IntelliPath. The investment will be used for the continued development of products and services to extend and support the Universal Connectivity System™ 2900 (UCS™ 2900) product line and management software. As well as for strategic initiatives that capitalize on the strong market opportunity for automated connectivity solutions. IntelliPath sells the products directly to customers as well as through established value-added resellers that specialize in enterprise connectivity. The UCS 2900 product line-acquired from Brocade in March 2007-helps customers simplify their physical layer infrastructure by automating end-to-end network path management of fiber and copper environments. The UCS product line is the most scalable and versatile automated connectivity technology on the market today with support for over 4,000 ports and LAN, SAN, MAN and WAN interfaces. With the UCS 2900 product, customers can wire their infrastructure once and then through the management software make 'virtual' adds, moves, and changes, which provide benefits such as high levels of scalability, availability, and monitoring performance. "IT organizations of all sizes are looking for ways to do more with less and to do more with what they already have in order improve on application service delivery including performance and availability by leveraging automation-as well as virtualization-to maximize available IT resources including hardware, software, networks and people," said Greg Schulz, founder and senior analyst, The StorageIO Group, an IT industry analyst firm. "With an offering like the IntelliPath UCS 2900, IT organizations can address the error prone manual and time consuming tasks associated with managing the underlying physical infrastructure including add, drops, moves and other physical cabling operations required to support a virtualized data center environment in a cost effective and secure manner." The UCS product line has an installed base of over 1,000,000 connectivity ports and an impressive user base of both Fortune 100 and federal government agencies with numerous installations around the world. "GKM Ventures primarily invests in information technology companies with proven customer validation, accelerating revenues and attractive profit margins," said Jonathan Bloch, managing director, GKM Ventures. "With IntelliPath's amazing established base of customers and proven management track record, we feel IntelliPath is proving they are steadfast in their commitment to grow the business and we are pleased to support their continued efforts." IntelliPath is also pleased to announce formally its Board of Directors:
"IntelliPath's management team and board of directors is completely focused on the company's mission of providing customers with the ability to simplify their data center's physical layer connectivity," said Peter Dougherty, president and CEO of IntelliPath. "By doing so we can help our customers to significantly improve their network availability, reduce costs, save time, and focus their IT staff on more important tasks." |
 |
© 2005. GKM Management LLC. All Rights Reserved.
