Intellireach Secures $7 Million In Series A Venture Funding
Dedham, Mass. – November 9, 2004 – IntelliReach Corporation, the leader in integrated security, compliance and management solutions for corporate messaging environments, announced today the Company has secured $7 million in venture capital funding from M/C Venture Partners, a leading venture firm with a substantial track record of success in information technology investments.
“IntelliReach has established itself as the leader in unified messaging management solutions,” commented Lance Urbas, president and CEO of IntelliReach. “Now, with this new funding, it is our goal to expand the organization in order to define, develop and deliver the next generation of messaging management solutions to customers worldwide.”
With the aid of this funding, IntelliReach is expected to continue to grow its senior management team, product development staff and its domestic and international distribution channels. Recently, IntelliReach added depth to its executive team with the additions of Paul Moeller as vice president of sales, Vicki Brown as vice president of marketing and Jack Steinkrauss as vice president of finance and chief financial officer. The Company plans to double its product development team by the close of Q1 2005. Founders Greg Arnette and Sam Levine remain with the Company to continue to execute their email management vision.
“IntelliReach has exhibited significant growth over the past six years in the messaging management space, driven by the enterprise’s critical need for comprehensive messaging which integrates security, compliance and archiving solutions,” commented John Ward of M/C Venture Partners. “We are convinced the combination of IntelliReach’s strong management team and its superior technology will enable the Company to be the leader in the next generation of messaging management solutions.”
“More than ever before, organizations rely on email for internal and external communications. However, email infrastructures are increasingly under fire while most organizations find themselves in a reactive mode,” said Matt Cain, senior vice president at META Group, a leading provider of IT research, advisory services and strategic consulting. “Email security and stability require a sustained and comprehensive approach to management and hygiene.”
About M/C Venture Partners
M/C Venture Partners is totally focused on investing in early-stage communications and related information technology companies. They have strong institutional backing and a long track record of accomplishment. The firm was formed from M/C Partners, which was long recognized as one of the most active private equity investors in the media and telecommunications industries. For more information, visit: www.mcventurepartners.com.
About IntelliReach
IntelliReach Corporation is the leading provider of corporate messaging solutions, managing millions of mailboxes around the world. IntelliReach products focus on the key challenges facing messaging managers: Spam, Virus, Email Compliance and Archiving, Secure Messaging, System Monitoring and Reporting. IntelliReach supports a broad range of messaging environments, including Microsoft Exchange, Novell GroupWise, Lotus Notes and other popular platforms. Its solutions enable organizations to lower overall messaging costs and increase employee productivity, while preventing messaging abuse and failure. IntelliReach is a privately held company headquartered in Dedham, Mass. For more information, visit: www.intellireach.com.