As PC Market Refresh Accelerates, Investors Seek To Capitalize on High Growth
PC Blade Market of $13 Billion by 2008
AUSTIN, Texas, Aug. 16 /PRNewswire/ -- ClearCube Technology, the global
market leader and pioneer in PC Blade solutions, today announced that it
secured an additional $25 million in funding. The round was led by Focus
Ventures, a premier expansion stage venture capital firm, and joined by
previous investors including Paladin Capital Group, Liberty Mutual, Austin
Ventures, Government of Singapore Investment Corporation (Special
Investments), Techno Venture Management, Sternhill Partners, and Wall Street
Technology Partners (a division of Dresdner Kleinwort). As ClearCube
continues to expand worldwide, the additional funding will primarily be used
to expand sales, marketing and product development.
"It is long past time to move from the unreliable and insecure traditional
PC platforms which seem forever locked in the technology world of the 80s and
90s. As the refresh market for PCs accelerates, companies are looking for
innovative solutions to solve their business needs," said Rob Enderle,
President of the Enderle Group. "PC Blades better represent the thinking of
this century and are the best fit for companies who won't settle for
historically inadequate security, reliability and manageability."
The ClearCube solution takes the traditional bulky PC box off the end
user's desk and replaces it with a small device (user port) that is connected
via the existing cable infrastructure to dense PC Blades located in a central,
secure location. By centralizing the PC computing assets, ClearCube delivers
dramatic improvements in security, efficiency, and cost-effectiveness. The
user ports connect to peripheral devices, but can be restricted so that mass
storage devices like diskettes and disk-on-key, which can compromise
enterprise data security, cannot be used to download data.
"Bloomberg LP has begun testing ClearCube technology internally with our
industry-leading 24 hour global customer support team, and we're very
impressed by what we've seen so far," said Lex Fenwick, Chief Executive
Officer of Bloomberg LP. "Bloomberg delivers real-time customer service 24/7
around the world. We are excited by the prospect of adding ClearCube's high
speed ergonomic computing solution to further promote the superior level of
customer service that Bloomberg users value."
The ClearCube solution has been installed by hundreds of customers
worldwide in a variety of different markets including financial services,
healthcare, education, manufacturing and government. ClearCube's customers
include six of the 10 largest Wall Street firms and Bloomberg LP; large
hospitals like Medical Center of Central Georgia and Oklahoma Heart; and
government organizations like the US Air Force, Department of Homeland
Security, Department of Justice, and Department of State. Additionally,
ClearCube has developed business partnerships and worldwide reseller
agreements with IBM Global Services, Hitachi, GTSI, and SAIC.
"As an expansion stage investor, we identify and invest in emerging market
leaders with a proven product and a loyal base of paying customers," said Jim
Boettcher, general partner at Focus Ventures. "Burdened by the costs of
maintaining and securing standalone PCs, IT managers are looking for a cost-
effective alternative for centralized and secure enterprise computing. With an
addressable potential market that IDC forecasts to reach $13 billion by 2008,
we invested in ClearCube because it is the established market leader with an
enviable list of Fortune 500 customers and the only vendor offering a
comprehensive product."
The ClearCube hardware is complemented by a robust software management
suite that enables a "touchless IT" environment where IT managers can remotely
manage and control global desktop deployments. For example, managers can
virtualize Move/Add/Changes (MACs), remotely switch users to spare PC Blades
in minutes if a PC Blade fails, monitor the health of a PC Blade and can be
notified of problems and recover user data without ever leaving their desk.
"Security continues to be a front page issue. ClearCube is uniquely
positioned to help meet the security and availability needs of corporations,
government agencies, and military operational needs," said Lt. General Kenneth
A. Minihan (Ret.), ClearCube Chairman and retired Director of the NSA.
"This new round of funding will enable us to further expand our operations
worldwide," said Carl Boisvert, President and CEO of ClearCube. "There is a
large market demanding a total rethink of the desktop PC -- and we have a
mature solution that is meeting that critical need."
About ClearCube Technology
ClearCube is the global market leader and pioneer in PC Blade solutions,
providing always-on solutions that deliver secured computing to every user,
every time, everywhere. By centralizing PC computing assets, ClearCube
provides a dramatic, measurable improvement in the security, efficiency, and
cost-effectiveness of managing and supporting PCs. For more information, visit
http://www.clearcube.com
About Focus Ventures
Focus Ventures is the leading expansion stage venture capital firm that
invests in emerging market leaders in the software, semiconductor and
communications industries. Focus Ventures currently manages $570 million,
having closed its first fund in October 1997 and Focus Ventures II in December
1999. 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 77 companies and
has had 20 IPOs and seven acquisitions by public companies. A select number of
portfolio companies that have gone public include: Active Software, Agile
Software, Alteon WebSystems, 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 http://www.focusventures.com or call 650.325.7400.
Contact:
Ken Knotts
ClearCube Technology
512-652-3425
ken@clearcube.com
June Parina
The Blueshirt Group for Focus Ventures
415-217-4968
june@blueshirtgroup.com
SOURCE ClearCube Technology
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Related links:
http://www.clearcube.com
CONTACT:
Ken Knotts of ClearCube Technology,
+1-512-652-3425, ken@clearcube.com; or June Parina of The
Blueshirt Group for Focus Ventures, +1-415-217-4968,
june@blueshirtgroup.com
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