ALISO VIEJO, Calif., Sept. 20, 2006 (PRIMEZONE) -- DATAllegro(tm), a supplier of industry leading data warehouse appliances, today announced the closing of $22.5 million in venture capital funding. The "C" Series round was led by JAFCO Ventures and included Focus Ventures as well as existing investors Adams Capital Management, Intel Capital, Palomar Ventures and Venrock Associates.
DATAllegro offers data warehouse appliances that are especially valuable for companies with very large amounts of data. The company's patent-pending technology enables its customers to more rapidly query their data at a price that is frequently a tenth of the price of traditional offerings. Over the past year, the company has announced new products and customers as well as expansion into the European market segment. The new funding will provide a foundation for continuing the company's rapid growth.
"The combination of DATAllegro's value pricing and unrivaled performance gives it the ability to disrupt the data warehouse market segment," said Tom Mawhinney, General Partner at JAFCO Ventures. "We are very excited to work with DATAllegro's management team to help the company pursue this unique opportunity."
"With its suite of low-cost, high-performance data warehouse appliances, we believe DATAllegro will change the way companies query vast amounts of data to help run their businesses more efficiently and intelligently," said Kevin McQuillan, General Partner of Focus Ventures.
"We are very pleased to close this round and feel we have a great team of investors behind us," said Stuart Frost, CEO of DATAllegro. "With their support as well as the strength of our product and our management team we are looking forward to continuing our growth and success."
About JAFCO Ventures
Based in Palo Alto, California, JAFCO Ventures is an independent venture capital partnership focused on companies that are emerging leaders in the software, semiconductor and communications industries. JAFCO Ventures was formed in 2003 and currently manages $200 million in capital. The fund's charter is to invest in venture opportunities with true "breakout" potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development (ABD) team. The role of the ABD team is to help JAFCO's portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit www.jafco.com.
About Focus Ventures
Focus Ventures is a top-performing venture capital firm that invests in expansion-stage leaders in the software, semiconductor and communications industries. The firm currently manages $830 million, having closed its first fund in October 1997, Focus Ventures II in December 1999 and Focus Ventures III in March 2006. Focus Ventures offers its portfolio companies access to high quality partners in Asia and an extensive network of resources focused specifically on driving top-line revenue growth through customer introductions and by establishing distribution channels, joint ventures and licensing arrangements. Since the firm's inception, Focus Ventures has invested in 93 companies and has had 20 IPOs and 15 acquisitions by public companies. A select number of portfolio companies that have gone public include: Active Software, Agile Software, Alteon Web-Systems, BroadBase Software, Chordiant Software, Commerce One, Copper Mountain Networks, Corio, CoSine Communications, Interwoven, Loudcloud, Niku, Pixelworks, and Verisity. For more information on Focus Ventures visit www.focusventures.com.
About Adams Capital Management, Inc.
Established in 1994, Adams Capital Management is a national venture capital firm noted for its domain expertise in disruptive technologies in the Information Technology, Semiconductor, Applied Materials and Telecommunications industries. ACM deploys a market-centric strategy to invest in emerging growth companies. With $700 million currently under management, ACM is an active lead investor, with four strategically located offices in Austin, Boston, Palo Alto, and Pittsburgh. For more information, visit www.acm.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.
About Palomar Ventures
Palomar Ventures was launched in 1999 by veteran venture capitalists to focus on early stage information technology companies that demonstrate the potential for exceptional growth and market leadership. The partners at Palomar have contributed their energy, strategic insight, network of corporate relationships and recruiting skills to assist in building nearly 50 public companies. Palomar Ventures manages over $500 million and is currently investing Palomar III, a $225 million fund. Selected investments include Continuous Computing, Composite Software, Dorado, Efficient Networks, Gluecode, Inovys, KnowNow, Network Inference, Newport Imaging, Virtela and Voxify. For more information visit www.palomarventures.com.
About Venrock Associates
Venrock Associates is one of this country's premier venture capital firms with offices in New York, Menlo Park, and Cambridge, MA. Originally established as the venture capital arm of the Rockefeller family, Venrock continues a six-decade tradition of funding entrepreneurs and establishing successful, enduring companies. Having invested more than $1.8 billion in more than 400 companies over the past 37 years, Venrock's investment returns place it among the top tier venture capital firms that have achieved consistently superior performance.
Venrock focuses its investments on early-stage companies in information technology, healthcare, and emerging technologies. These include: Intel, Apple Computer, StrataCom, Check Point Software, and DoubleClick; Centocor, Idec Pharmaceuticals, Sugen, Millennium Pharmaceuticals, and Illumina. For more information, please visit Venrock's website at www.venrock.com
About DATAllegro(tm)
DATAllegro offers data warehouse appliances with the best price and performance in the industry. Using DATAllegro's patent-pending technology, companies can run faster and more complex queries on their data in order to increase their business intelligence. Whether you have 1 terabyte of user data or 300, DATAllegro's data warehouse appliances offer record breaking performance at a fraction of the cost of any other offering on the market.
With prices for a complete appliance starting at $130,000 and table scanning speeds as fast as six terabytes per minute, DATAllegro's data warehouse appliances have set a new standard in price and performance. DATAllegro has offices throughout the US as well as in Europe. Based in Aliso Viejo, California, DATAllegro delivers a fast, flexible and affordable solution that allows a company's data to grow at the pace of its business. For more information on DATAllegro go to www.DATAllegro.com.
DATAllegro is a Trademark of DATAllegro, Inc. All other trademarks, trade names, service marks, and logos are the property of their respective owners.