ORACLE AND NOVELL INVEST IN ARCOT SYSTEMS
arcot.com
For Immediate Release
ORACLE AND NOVELL INVEST IN
E-BUSINESS ENABLER,
ARCOT SYSTEMS
Arcot Raises $12.5 Million in Round of Funding with Backing
from Existing As Well As New Investors Raza Ventures,
Oracle and Novell
PALO ALTO, CA., February 15, 2000 ? Arcot Systems, Inc., a
leader in transforming digital certificate technology into
easy-to-use, mobile, secure e-business solutions, today
announced
its latest round of funding, raising a total of $12.5 million from
new investors Raza Venture Fund, Oracle and Novell as well as
existing investors Accel Partners and Onset Ventures. This
financing enables Arcot to accelerate the development, marketing
and sales of a range of e-business solutions based on its unique
software smart card technology.
"We are excited by the strong support we have received from the
investment community," said Chet Silvestri, CEO of Arcot
Systems, Inc. "Our investors share the vision that Arcot uniquely
delivers key e-business solutions based on software smart card
technology that combines convenience and security."
"As the leader in helping organizations make the transition to
e-business, we are looking to invest in software companies that
can help our customers," said Matt Mosman, senior vice president
of corporate development at Oracle Corp. "Arcot leverages Oracle
technology to address strong authentication on the Internet, a key
enabler of electronic commerce."
"We are delighted about this investment because Arcot represents
both an investment and partnership opportunity for us," said Carl
Ledbetter, Novell senior vice president for business and corporate
development. "We are working with Arcot to provide an expanded
set of directory-based authentication services to Novell customers
through our joint marketing and technology programs."
"Arcot supplies real solutions to serious security problems that
face business-to-business e-commerce companies," said Atiq
Raza,
president and CEO of Raza Venture Fund A, L.P. "We have
invested in Arcot because we believe that they provide the
necessary tools to restructure the way business is done on the
Internet."
About Raza Venture Management, Inc.
Atiq Raza is the President and CEO of Raza Venture
Management, Inc. (RVMI). RVMI is an incubator management
company focused on startup companies that are being built to
address the bottlenecks and seams in the rapid growth of
bandwidth. Mr. Raza is also the Managing Partner of Raza Venture
Fund A, L.P. which focuses on broadband communications and
business-to-business e-commerce.
About the Oracle Venture Fund
Launched in January 1999, the Oracle Venture Fund is a $500
million fund created to promote innovation by companies
developing products and services based on Oracle technologies,
the complete development and deployment platform for Internet
computing that can scale to meet the demands of the industry?s
rapidly growing on-line businesses. Companies funded by the
Oracle Venture Fund can benefit from Oracle?s worldwide
marketing and branding, as well as the market access afforded by
the world?s second largest software company. Funding recipients
can also receive access to Oracle?s technology, developers,
technical support, and early releases of new software. For more
information on the Oracle Venture Fund go to
oracle.com.
About Novell, Inc.
Novell, Inc. (NASDAQ: NOVL) is the broadest supplier of Net
infrastructure software used to integrate and manage the diverse
information resources of private business networks and the
Internet. Novell's worldwide channel, consulting, developer,
education and technical support programs are the most extensive
in the network computing industry.
About Arcot Systems, Inc.
Arcot Systems is a leader in transforming digital certificate
technology into e-business solutions through the use of patented
software smart card technology. Arcot products leverage digital
certificates to provide scalable, easy-to-use, mobile and secure
solutions for end user authentication and signing on the Internet
and private networks. Our customers are leaders in e-commerce,
online financial services and e-health. Arcot is privately held and
headquartered in Palo Alto, California. For more information, visit
Arcot?s web site at arcot.com. |
