Adaptive Computing Secures $14 Million Investment to Expand Global Cloud Computing Business
Provo, Utah—September 14, 2010—Adaptive Computing, the company behind the Moab® unified automation intelligence technology, today announced the completion of its Series A round of financing, securing $14 million from Intel Capital, which served as the lead investor, Tudor Ventures and EPIC Ventures. Adaptive Computing’s initial round of funding, after nine years of consistent profitable growth as a company, will be used to further accelerate the company’s ability to meet the rapid increase in customer demand for cloud automation intelligence.
Q&A with Dave Jackson, Founder, CEO & CTO of Adaptive Computing
Q: Briefly describe Adaptive Computing’s product.
Adaptive Computing’s Moab product line can be thought of as ‘cloud intelligence’. This product understands all dimensions of compute resources, it understands applications and workloads, it understands virtualization and middleware, and it understands users, organizations, and enterprise-level business needs. It combines this knowledge to understand at a high-level what an organization is attempting to accomplish to be successful, what is currently going on, and what changes can be made to improve the effectiveness of the applications and the data center at large. Moab uses this understanding to orchestrate workload management and provisioning processes to optimize the organization’s ability to meet critical performance criteria.
Q: How does Adaptive Computing uniquely stand out among their competition?
Adaptive has been very fortunate. For years, while other vendors focused on the ‘means’ of cloud computing, how to provision or how to launch an application, Adaptive Computing has focused on how to best utilize these capabilities to optimize the data center. The cloud industry is maturing rapidly and is reaching a point where many vendors now provide capable and reliable provisioning services, tools capable of automating the manipulation of servers, networks, and storage resources. However, while many companies can automate the process, there is an incredible dearth of solutions which can automate the decision. There are not solutions which can adequately determine what is important, what should be done, or where something should go. For other vendors, their cloud solutions are generations away from providing true cloud decision automation, something at the core of what Adaptive Computing provides.
In the market, we are being inundated with customers who understand the critical and strategic nature of this decision automation, not just for improving utilization, but also for improving agility and enabling entirely new classes of services to their customers. We are finding and overwhelming demand with our customers and an exceptional opportunity to partner with other vendors to provide a ‘complete’ solution combining the automation of both decisions and actions to deliver a powerful cloud with an unmatched value proposition.
Q: What in your background enabled you to have the skills you needed to develop Adaptive Computing’s product?
I was fortunate to be involved with some of the first massive scale compute systems used for research and was originally asked to help managed these systems by hand. However, this soon evolved to a need to create software to automate these tasks. Within a few years, the software I had written was running thousands upon thousands of sites throughout the world. This success provided great opportunities but also the opportunity for great insights into what was coming. Over 10 years ago, we were able to see the value of and need for another generation of system management tools which combined workload intelligence with the ability to automatically customize, tune, and provision the workload. We were able to understand how important combining business intelligence and application SLAs would be to future uses of these systems. We understood that the contracts and guarantees required in the business world would need to be represented and enforced within the enterprise computing resources as well.
We began to build solutions that addressed these needs and these solutions began to resonate with one major customer after another until we find ourselves in the fortunate position we are now in.
Q: What has helped Adaptive Computing progress the most in terms of getting the product off the ground and into the market?
Adaptive Computing was bootstrapped as a company literally from the ground up without any outside funding. I think we always had confidence in our solutions and, as a team, in each other. We developed a strong company culture of hard work, open communication, patience, and unique flexibility which allowed us to move forward on a long held objective while leveraging day-to-day opportunities as they arose.
With this approach, we were able to get a strong product into the market but it didn’t stop there. Growth grew by word of mouth and this growth could only occur with a unique value proposition, quality product, and a dedication to customer service. We have many individuals working within the company that are almost ‘rapid’ customer advocates making certain that the customer is taken care of not matter what. This approach has allowed us to get a reputation for being different at many levels and these differences are something we strive to protect even with the significant growth that is underway.
Q: Why did you choose to partner with EPIC Ventures?
Adaptive Computing was successful in managing its own growth for years and was fortunate to be profitable through all of these years. However, growth continued to ratchet up faster and faster to a point that internal funding could not keep up with opportunities. We knew we had the right product, the right company, and the right culture, what we needed was the right partner that could respect these strengths while providing both funding and support through the next phase of growth. Continuous evolution as a company matures from startup to major player. Epic’s involvement allows us to reach out to them as we need, while continuing to focus on what we do best, delivering solutions, servicing customers, growing the company, and staying on the leading edge of the cloud intelligence market.
VMware Acquires Tricipher
SAN FRANCISCO, CA, Aug 31, 2010 (MARKETWIRE via COMTEX) — Today at VMworld 2010, VMware, Inc. /quotes/comstock/13*!vmw/quotes/nls/vmw (VMW 82.93, -1.50, -1.78%) , the global leader in virtualization and cloud infrastructure, announced that it has entered into definitive agreements to acquire Integrien, a leader in real time application and infrastructure performance analytics software, and TriCipher, a leader in secure access management and enterprise identity federation for cloud hosted Software as a Service (SaaS) applications.
EPIC Ventures invested in BrightTag in a Series A round. BrightTag is an exciting company in the digital advertising space focused on helping website owners Control, Protect, and Manage their valuable data assets. Through the BrightTag Data Rights Management Platform™ the Company is helping its clients reduce latency, protect consumer privacy, and drive revenue and innovation through improved data collection and distribution.
EPIC Ventures invested in Adaptive Computing in a Series A round. Adaptive Computing provides intelligent automation software for data center, cloud, and high-performance computing environments. The company’s infrastructure intelligence solutions, powered by Moab®, deliver policy-based governance that allows customers to consolidate and virtualize resources, allocate and manage applications, optimize service levels, and reduce operational costs.
Portfolio Company Highlights
HyTrust Cloud Control Unveiled to Enable Accelerated Cloud Adoption
SAN FRANCISCO–(EON: Enhanced Online News)–HyTrust, Inc., the leader in access control and policy enforcement for virtualization infrastructure, today announced HyTrust Cloud Control and out-of-the-box integration between HyTrust Appliance and VMware vCloud Director. The solution brings strong authentication, role-based access control, security and visibility to VMware-based clouds, which enables transparency and accountability for cloud services. By offering customers the freedom of open standards and interoperability of applications, VMware vCloud Director offers organizations ability to expand IT capacity or migrate applications to the public cloud. Similar to Amazon’s EC2 offering, VMware-based cloud services ensure visibility of pooled resources along with the elasticity to provide the highest service-levels for applications.
iovation Listed on the Inc. 5000
PORTLAND, Ore.–(BUSINESS WIRE)–iovation, the device reputation authority protecting online businesses from fraud and abuse, today announced its inclusion in the Inc. 5000, an exclusive ranking of the nation’s fastest growing private companies. Inc. Magazine ranked iovation number 1662 on its annual list, number 38 within private security companies, and number 14 within the Portland, OR metro area.The Inc. 5000 list represents the most important segment of the economy—America’s independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, local internet marketing and advertising provider Yodle, and oDesk, the marketplace for online work teams, are among the prominent brands featured on the 2010 list.
BrightTag Raises Series “A” Round Led by TomorrowVentures & New World Ventures
CHICAGO–(BUSINESS WIRE)–BrightTag™ digital media’s first Data Rights Management Platform for marketers and publishers, today announced it has closed its Series “A” financing round. TomorrowVentures and New World Ventures led the round, which also included participation from Epic Ventures and the I2A Fund. BrightTag did not disclose any investment terms. The Chicago Tribune first broke this story. BrightTag provides marketers and publishers with a technology solution to control tracking tags, protect against data leakage and provide transparency to the world of online marketing. With BrightTag, website owners and agencies can work with marketing partners in a matter of minutes without ever bothering IT, and more importantly, they can control what data is collected and shared with each partner.
EPIC Team Highlights
Ryan Hemingway joins EPIC Ventures
Ryan Hemingway has joined EPIC Ventures as an Associate. Ryan started his career with Zions Bank Capital Markets Group trading repurchase agreements. Shortly after joining Zions Bank he moved to New Jersey as a Corporate Bond Trader where he traded and managed the risk on a portfolio of 200 corporate bonds in the industrial and retail sector. His personal trading limits were $50 million long and $50 million short. While there he helped to implement a new risk management process which resulted in increased profitability by reducing borrowing costs. In addition to improving Risk Management he assisted in integrating Zion Banks strategic acquisition of Van der Moolen a small trading firm in London. After completing an MBA at the University of Oxford in the U.K., Ryan joined Nevada State Bank in order to help build and establish a new Private Banking Department. Ryan has a B.S. in Psychology from Utah State University, a M.S.S. in Economics from Utah State University and an M.B.A. from the University of Oxford.
Where We’ve Been & Where We’re Going
– Federal Conference on Private Equity – Chicago, IL (Ryan D.)
– Women Tech Awards – SLC, UT (Chris as a judge)
– TechStars Demo Day – Boulder, CO (Kent, Katie, and Stephanie)
August 29-September 1
– COMS 2010 (Commercialization Of Micro and Nano Technology Systems Conference) – Santa Ana Pueblo, NM (Katie on the Venture Capital Panel)
– BoomStartup – Park City, UT (Nick, Kent, and Chris)
– VCIR Fall 2010 – Santa Fe, NM (Stephanie as Chair, Nick, Kent, Chris, and Katie)
– Investment Professionals Conference – Provo, UT (Kent)
September 29 – October 1
– Healthios Conference – Park City, UT (Nick)
– MD4 Utah 2010 Summit – SLC, UT (Kent as Funding & Deal Flow Panel member)
– Governor’s Venture Capital & Private Equity Roundtable – SLC, UT (Kent)
– Utah Youth Village Helping Hands Gala – SLC, UT (Ryan H.)
– Perfect Business Summit 2010 – Las Vegas, NV (Kent)
– Game Developers Conference Online- Austin, TX (Stephanie)
– CleanTech Open – Denver, CO (Kent as a judge and panelist)
– NMBio Luncheon and Seminar – Albuquerque, NM (Katie on the board of NMBio)
– Entrepreneur Summit and NM WIRED Event – Albuquerque, NM (Katie on the board of NM WIRED)
– Ignite New Mexico – Albuquerque, NM (Katie as a judge)
– Plug and Play iEXPO – Sunnyvale, CA (Katie participating)
– UTC Hall of Fame – SLC, UT (Chris & Kent)
– Utah Entrepreneur Challenge – SLC, UT (Kent as a speaker)
– Utah 2010 Angel Investor Update – SLC, UT (Kent)
– OEN Venture Northwest – Portland, OR (Ryan D.)
– Intel Capital CEO Summit – Huntington Beach, CA (Chris)
– DFJ Mega Week – Half Moon Bay, CA (Kent and Katie)
– Invest Southwest – Scottsdale, AZ (Stephanie as chair)
– NMBio Holiday Luncheon and Seminar (Katie on the board of NMBio)
Smile Reminder Ranks #77 for Top Software Companies in the 2010 Inc. 500/5000 List
LEHI, Utah–(BUSINESS WIRE)–Inc. Magazine announced the final results for the Inc. 500/5000 list, where the rapidly growing and market leading practice-to-patient communication service, Smile Reminder, was ranked 77th in the list for Top 100 software companies in America. The achievement recognizes the private company’s immense contribution to a healthcare service that is quickly becoming a billion dollar market for e-messaging. Past Inc. 500/5000 software lists included impressive companies that quickly blossomed into national icons, and Smile Reminder is honored to be amongst them for the second year in a row. As the first to offer text messaging to patients, Smile Reminder has rapidly become a leader in the healthcare technology movement.
Patrick McQuown Joins DOTGO as CEO
NEW YORK, New York–July 1st, 2010–New York-based mobile technology start-up company DOTGO today announced that mobile industry pioneer Patrick McQuown has joined the company as CEO. In his new position, McQuown will be responsible for leading the growth of DOTGO’s revolutionary mobile business. "To be part of the DOTGO team is an exciting opportunity for me," said McQuown. "The company’s technology is unique, simple and powerful and it allows any company to tap into the marketing potential of a device that almost everyone has—the mobile phone. It truly represents the biggest revolution to text messaging based marketing since Short Message Services (SMS) began. My goal is to bring DOTGO to the forefront of the mobile messaging and marketing business."
MRAM Leader Everspin Technologies Names Phillip LoPresti President and CEO
CHANDLER, Ariz.–(BUSINESS WIRE)–Everspin Technologies, the industry’s MRAM product leader, has named Phillip LoPresti its president and chief executive officer (CEO). LoPresti brings more than 25 years of engineering, sales and marketing experience in the semiconductor industry, including specific expertise leading a startup in an emerging technology sector. LoPresti most recently directed the high-speed data converter efforts at Intersil Corporation, after joining the company when it acquired semiconductor startup Kenet, Inc. When the two companies merged in 2008, LoPresti led the successful integration of the Kenet team and products into Intersil’s analog mixed-signal business, while expanding the company’s product portfolio and customer base.
Aspen Avionics Achieves Certification for Class III Primary Flight Display
Albuquerque, NM, July 7, 2010: Aspen Avionics announced today that the Federal Aviation Administration (FAA) granted Technical Standard Order (TSO) Authorization for the Evolution EFD1000C3 Pro Primary Flight Display (PFD) for Class III aircraft. The already robust Evolution Software now meets the Level B assurance levels required for FAR Part 23 Class III aircraft, making the increased safety, reliability and functionality of the Evolution Displays available to operators of piston and turbine aircraft weighing between 6,000 and 12,500 pounds. Aircraft owners can install the newly certified EFD1000C3 Pro PFD independently, or in combination with the popular Evolution Multi-function Flight Displays (MFDs) to fit their particular flight mission needs and budgets.
EXAGEN DIAGNOSTICS RECEIVES LAB ACCREDITATION FROM COLLEGE OF AMERICAN PATHOLOGISTS
Albuquerque, N.M., July 8, 2010 – Exagen Diagnostics, Inc., a molecular diagnostics laboratory that discovers, develops and markets proprietary genomic tests, has been awarded accreditation by the Accreditation Committee of the College of American Pathologists (CAP). The CAP is a leading organization of board-certified pathologists that serves patients, pathologists and the public by fostering and advocating excellence in the practice of pathology and laboratory medicine. The CAP accreditation program, begun in the early 1960s, is recognized by the federal government as being equal to or more stringent than the government’s own inspection program. Exagen is one of more than 17,000 CAP-accredited laboratories in the world.
Alliance Health Networks Announces Strategic Partnership with Former U.S. Secretary of Health and Human Services, Michael O. Leavitt, and Leavitt Partners
SALT LAKE CITY–(BUSINESS WIRE)–Alliance Health Networks, Inc. and Leavitt Partners today announced a strategic partnership to assist Alliance Health in expanding its presence in the U.S. healthcare industry and beyond. The partnership combines Leavitt Partners’ deep expertise in consumer-directed healthcare and personalized medicine with Alliance Health’s leadership in building highly scalable, condition-specific social networks that engage consumers in cost-effective ways. “Alliance Health is the leader in the development of next generation consumer health solutions through their proprietary social networks that are designed to engage and support their community members,” said Leavitt Partners Chairman Michael O. Leavitt, who previously served in the Cabinet of President George W. Bush as the Secretary of Health and Human Services (2005-2009) and as governor of Utah (1993-2003). “We share in the belief that Alliance Health’s proven capabilities not only deliver efficiencies when and where health consumers and industry participants connect, but ultimately yield better health outcomes.”
Lumidigm Receives Export Award from U.S. Department of Commerce
Santa Fe, New Mexico — August 17, 2010 — Lumidigm, Inc., the New Mexico biometrics company, received an Export Achievement Certificate on August 5, 2010 from the U.S. Department of Commerce. Presented by Senator Jeff Bingaman (N.M.) via video, the award recognizes Lumidigm for its accomplishments in the global marketplace. Lumidigm was nominated for this award by Sandra Necessary, U.S. Commercial Service Santa Fe Director, to draw attention to Lumidigm’s successes in China and East Asia.