Jan 17, 2002 : Sphera Secures $5 Million in Funding

📅 January 17, 2002 - Sphera Corporation (sphera.com), a developer of Web hostingautomation and management software, announced today that it has raised anadditional $5 million in the subsequent closing of its second roundfinancing.

This investment from Vision Capital and Bank of America Equity Partnersbrings the total raised in Sphera's second round to $20 million, with theinitial $15 million led by TLcom Capital Partners and Jerusalem VenturePartners with participation from Gemini Israel Funds.
Hostingdirector, Sphera's flagship product, automates Web hosting managementfor ISPs, IDCs and Web hosting providers. By automating Web hostingfunctions, Hostingdirector streamlines operations and reduces costs andenables end-customers to self-provision a range of Web, database ande-commerce applications.
"Sphera's technology addresses the growing need of the Web hosting industryfor an automation platform that provides for both operational efficiency andincreased revenue opportunities," said Sven Lingjaerde, general partner,Vision Capital. "We believe in this market and in the way Sphera'stechnology is positioned as the segment leader." Lingjaerde will joinSphera's board of directors.
"Closing this additional $5 million given present capital market conditionsfrom such leading American financial institutions as Vision Capital and Bankof America Equity Partners is a vote of confidence for Sphera's Web hostingautomation and management solution," said Tamar Naor, Sphera's CEO. "Thisfunding, coupled with key account wins and strategic partnerships mark astrong start for Sphera in 2002."
Sphera recently announced strategic partnerships with IBM, to marketHostingdirector as part of IBM's Blue Velocity program and with Microsoft inthe co-development of Hostingdirector's Windows 2000 version with theMicrosoft Technology Center. Numerous hosting providers have joined Sphera'sclient list including ISE and Interdominios in Europe, Jumpline and ViaNetworks in the US and IIJ in Japan.

Reads: 2103 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/sphera011702.cfm

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