Business Service Management Company Addresses CIO-Level Concerns
New York, NY, June 24, 2003 – Appilog, Inc. announced today that it has closed a $6.5 Million investment in a financing round led by Cedar Fund (www.cedarfund.com) with participation by Appilogs existing investors, Poalim Ventures and Delta Ventures. Appilog is a software technology company, whose Business Service Management (BSM) solution is designed to help customers map and manage their IT assets to ensure optimal availability of key business applications.
This latest round of financing complements the excited responses we have received from the market," said Irwin Wallach, Appilogs CEO. The notable customers that are already using our Pathfinder solution validate the need for a Business Service Management solution of Pathfinders depth and breadth. The addition of Cedar Fund to our existing investors will be highly valuable to Appilogs financial strength as we continue to broaden our list of customers and markets we pursue."
Appilogs Pathfinder is an application that integrates, manages and visually displays the IT infrastructure of any business, allowing operations managers to intelligently manage their critical business applications and IT assets. Pathfinder covers multiple layers including Networks, Protocols, Databases, Operating Systems, and can precisely identify and report problems at any topology level, from the entire service level down to the individual objects. Through its agentless architecture, Pathfinder can identify interdependencies and pin-point the root causes of problems, providing improved support and increased availability, alongside automation of manual processes.
Customers in the financial services, managed service providers and health care industries are already using Appilog Pathfinder to manage their trading floors, clients and business applications that are key revenue generating components of their IT infrastructure.
Appilog delivers a solution to a problem which CIOs are looking to resolve. They seek a product that can help them better leverage the existing resources of the enterprise by providing a way to visually identify and drill down into the IT infrastructure and resolve any problems," said Amnon Shoham, managing partner with Cedar Fund. Cedar Fund is pleased at leading this investment round and we are looking forward to working with the company thorough Cedar Funds North American presence as Appilog accelerates its growth."
About Cedar Fund
Cedar Fund is a venture capital firm investing in high technology companies. Cedar Fund seeks to invest in outstanding entrepreneurs pursuing high growth markets with distinguished technologies in the telecommunications, networking, Internet-infrastructure and enterprise software areas. While the fund invests in all stages, it specializes in early stage, Israel-related situations, including Pre-Seed, seed and first round, where it believes its strategy and capabilities offer the greatest potential. With its quality investment track record and over $225 million under management, Cedar Fund is among the largest and most notable venture capital firms focusing on Israel-related, early stage investments.
About Delta Ventures
Delta Ventures is venture capital fund that invests in innovative technology companies primarily within Israel. The funds investments focus on information technologies that provide business solutions, Internet infrastructure, telecommunications and Medical Devices and diagnostics.
About Poalim Ventures
Poalim Ventures is a Venture Capital firm investing and actively supporting Israeli and Israeli-related high-technology companies, ranging from start-ups to pre-public mature companies in the areas of enterprise software, communications, cellular technologies, security, and IT. Poalim Ventures has been involved in the Israeli high-tech industry since 1993, when it started as a Fund of Funds with ongoing involvement in several Israeli VC funds (such as YozmaII, Delta, Formula ventures, and others). Poalim Ventures manages in its direct and indirect funds over $200 million. The direct portfolio includes companies such as PowerDsine, Cyota, Appilog, and Chiaro, and indirectly includes investments in such companies as X-Technologies, Telegate and many others. Poalim Ventures relies on a diverse professional team as well as an active advisory board comprised of leaders in the Israeli high-technology field. Poalim Ventures is part of The Poalim Capital Markets Group and a subsidiary of Bank Hapoalim, the largest and most respected banking group in Israel.
More information about Poalim Ventures is available at www.poalimcm.com.
About Appilog
Appilog, Inc. builds and markets Business Service Management (BSM) software solutions designed to ensure and optimize the availability of critical business applications by visually managing multiple infrastructure layers, from the network to the application. The companys customers include leading financial services companies, retailers and manufacturers. Founded in 2000, Appilog is a privately-held, VC-backed company, headquartered in New York City with R&D facilities located in Israel. For more information about Appilog, visit www.appilog.com.
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