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Apprion Raises $7.5 Million Series A Financing
Company Develops Products That Manage and Improve
Performance on Industrial Wireless Networks
Moffett Field, California - January 24, 2006 - Apprion, developer of the ION platform for industrial wireless security and interoperability, today announced a $7.5 million Series A round of funding, co-led by Advanced Technology Ventures (ATV) and Allegis Capital. Wes Raffel, a general partner at ATV, and Lara Druyan, a general partner at Allegis Capital, will both take seats on the board. NASA Ames-based Apprion will use the financing for additional product development and recruiting efforts.
"In a very crowded wireless market, Apprion stood out with a truly differentiated solution geared towards a customer base whose pain point has not yet been addressed," said Wes Raffel, general partner at ATV. "They have the team, the market potential, and the innovative technology to capitalize on an amazing opportunity."
Wireless technologies are changing the way industrial facilities operate by extending connectivity for real-time monitoring and increasing security. However, industrial applications demand increased levels interoperability, reliability and scalability.
Apprion's approach to managing these complex wireless networks improves the overall effectiveness of people, systems and assets by unifying a full spectrum of wired and wireless technologies into a common network, security, policy management, and application platform. Apprion's solutions are also able to integrate into customers' existing network infrastructure. The result is a distributed, intelligent platform that aligns real-time data collection technologies with data networks and operational applications.
"Every facility we talk to has encountered the same challenge. The benefits of wireless connectivity are tempered by the security and reliability issues it raises," said Stephen Lambright, president and CEO of Apprion. "We identified this as a tremendous market opportunity and are developing the critical framework to help operations managers more cost-effectively leverage a wireless network, without the fear of security breaches and the risk of compromised data."
Apprion's founding management team brings a wide-range of experience with a combined 50 years in the technology industry. Stephen Lambright, the president and CEO, has over 15 years of experience, most recently serving as vice president of marketing for Savi Technology, a venture-backed RFID company. Earlier in his career, Lambright held management positions at NetObjects, Narus, Informix, and Autodesk.
Dr. Peter Fuhr is Apprion's CTO and brings over 20 years of experience from the private and public sectors. He worked at NASA, the University of Vermont, San Jose State University and RAE Systems focusing on communications and semiconductor technology.
Ian McPherson, the vice president of marketing, has over 15 years of experience in research, development and deployment of network infrastructure and enterprise wireless technologies. Most recently he was the founder and President of the Wireless Data Research Group, providing syndicated primary research and advisory services for emerging wireless technologies and Machine to Machine communications.
About Apprion
Industrial Wireless is our world. Apprion is dedicated to providing industrial facilities with the most reliable and secure
wireless networks, applications, and services available. Apprion's ION System is an open, standards-based wireless
infrastructure that allows plants to drive performance and lower operational costs with industrial-grade security,
reliability, and scalability. Apprion's mission is to make sure that your plant's wireless is on...always on...guaranteed.
Apprion and all other Apprion Inc. product or service names are trademarks of Apprion Inc. in the USA and other
countries. Other brand and product names are trademarks of their respective companies. Copyright 2008
Apprion Inc. All rights reserved.
About Advanced Technology Ventures
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.5 billion in capital under management. ATV works closely with entrepreneurial teams across several markets, including communications, IT infrastructure, software and services, and healthcare, to build emerging-growth business ventures into market leaders. For more information, visit http://www.atvcapital.com.
About Allegis Capital
Allegis Capital is a leading seed and early-stage venture capital firm that invests in companies developing enabling technology and infrastructure to serve emerging information technology markets. Specific areas of interest include enabling hardware devices, enterprise software solutions, broadband and wireless delivery techniques, and Internet infrastructure and delivery platforms and services. Allegis Capital has a successful history of investing in top-tier companies such as CompareNet, Rent.com, and Shopzilla.
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