Tuesday September 26, 9:42 am Eastern Time
NY VC Funds ActiveState: International Angels Invest in Software Development Company
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 26, 2000--
ActiveState, a leading provider of Internet programming software
and services, announced the closure of its latest round of financing,
which included lead funding by NY venture capital firm Opticality
Ventures, which specializes in backing open source firms.
ActiveState also received strategic investments from ActiveState
Board Member and Red Hat CTO Michael Tiemann; Nick Bedford, Head of
German Equity Sales for the investment banking firm, Warburg, Dillon &
Reid AG; and renowned members of Vancouver's high tech community.
``We're delighted to have such a depth of international and local
backing and for the confidence our investors have shown in us by
reinvesting,'' said Dick Hardt, Founder & CEO, ActiveState. ``Opticality
is an ideal partner for ActiveState, they understand the open source
opportunity. As of course does Michael Tiemann, whose extensive
experience with Cygnus and Red Hat is a great resource.''
``ActiveState sets the standard for delivering high quality tools
to the Perl and Python communities. Their dedication to hiring top
notch developers ensures their success,'' said Hadar Pedhazur, Founder
& Principal, Opticality Ventures. ``I'm pleased to be associated with a
company that understands its mission and produces world-class
``ActiveState's expertise and relationships with both the open
source and business communities sets them apart from other programming
software companies,'' said Michael Tiemann, CTO, Red Hat. ``The Company
is well positioned to capitalize on the pent-up demand for software
and services that enables programmer productivity and skills.''
ActiveState completed an earlier Angel investment last winter.
Proceeds and expertise from the current round of financing will be
used to pursue strategic near term objectives, including the expansion
of ActiveState's management team, opening of a Seattle office, and
increased marketing and sales efforts.
ActiveState is at the forefront of open source infrastructure
software, providing Internet programming products and services for all
popular operating systems including Linux, Solaris, and Windows.
ActiveState's key technology platforms are Perl, the Internet's most
popular programming language and Python, a user-friendly scripting
language. ActiveState solutions provide enterprise-wide deployment of
Perl and Python, improved programmer productivity, and seamless
integration with other technologies. ActiveState believes in the
evolution of core Perl and Python technologies and is committed to
broadening the appeal of Perl and Python by making available easy to
install packages for popular operating systems. For more information
visit www.ActiveState.com.(c) ActiveState Tool Corp 2000.
ActiveState is a trademark of ActiveState Tool Corp. All other
company names herein may be trademarks of their respective owners.
Lori Pike, 604/484-6417