FRESNO, Calif., June 7, 2004 (PRIMEZONE) -- Attesting to the strength of the backup software market, Yosemite Technologies announced today that it has received a "B" round of funding led by Trinity Ventures. The recent round of funding underscores the opportunity in the data protection software market, which represents the single largest segment of the overall storage software market. This round, which includes current investors Hummer Winblad and Altos Ventures, will be used to drive Yosemite's continued expansion in the lucrative world wide backup software market.
Yosemite secured over $10 million in equity funding, representing a significant up round in valuation. While the company is profitable, it will use the additional funding to further its position in the worldwide backup software market through accelerated product development. Yosemite's first round of outside funding came from Hummer Winblad and Altos Ventures in December of 2002.
"Yosemite has built significant value in the company since the first round of funding. Trinity recognized that value, and its investment in Yosemite is an endorsement of our success and our vision," stated Kevin Reinis, chief executive officer of Yosemite Technologies. "This second round of funding will further augment our success in the backup software market as we continue with our efforts to be a disruptive force in the market by providing a backup solution that delivers unmatched simplicity, reliability and value."
"Yosemite's tremendous success demonstrates the market demand for simple, yet scalable backup solutions. That type of success and growth-promise is what we look for when we consider investing in a company," stated Tom Cole, General Partner with Trinity Ventures. "Yosemite's dedication to product excellence, its superior management and its customer-centric focus is the foundation to the company's success and a spring board for its future growth and success."
Yosemite offers a robust backup solution built from the ground up for the SME market. Yosemite takes the complexity out of data protection with wizard driven installation and customization. Yosemite offers multi-platform support for Windows, Linux, UNIX and NetWare and protects industry-leading applications such as Oracle, Microsoft SQL Server and Exchange.
"Yosemite has proven time and again that it is dedicated to growth and success and that dedication shines through not only in its products' reliability, but through the strength of its partnerships and most importantly its strength in the channel," stated Doug Hickey, partner at Hummer Winblad. "The goal of our initial investment was in part to expand the company's worldwide presence. Yosemite has exceeded that goal with a substantial increase in international distribution and partnerships that will catapult the company to the next level."
About Yosemite Technologies
Yosemite Technologies is a global provider of enterprise-caliber backup solutions for the small-to-medium enterprise (SME). Yosemite's flagship product, TapeWare(r), provides a single solution for environments running Microsoft(r) Windows, Linux, Novell NetWare(r) and UNIX. Yosemite has developed strong technology and channel partnerships with leading companies including HP, Dell, Microsoft, Certance, Ingram Micro and Gateway. The company's commitment to Backup Simplified(tm) represents Yosemite's focus on delivering products that offer unmatched performance, ease-of-use and value. Founded in 1996, Yosemite Technologies is a privately held company located in Fresno, California. For more information, visit www.yosemitetech.com.
About Trinity
Founded in 1986, Trinity Ventures is a value-added investor that provides capital, networks and resources to early-stage software, services, communications and networked systems companies. With more than $1 billion under management, Trinity Ventures has a proven track record of working in close collaboration with entrepreneurs to build leading companies, such as Extreme Networks, Network Alchemy, Crescendo Communications, Forte Software, Illustra and Starbucks. For more information on Trinity Ventures, please visit www.trinityventures.com.
TapeWare and Yosemite Technologies are registered trademarks of Yosemite Technologies, Inc.
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