RealTime IT News

VeriCenter Completes $11.5M Financing

VeriCenter Inc. announced Monday (Nov 27) that it has completed an $11.5 million financing from BMC Software Inc., Broadband Venture Partners LLC, Intel Capital and other investors. The funds will be used primarily to expand VeriCenter's operations, particularly sales and marketing.

VeriCenter is a Houston-based full-service ASP formed in 1999. VeriCenter hosts and manages e-commerce, messaging and collaboration applications and Internet-based telephony.

"This financing sets the stage for us to reach the next level in our growth strategy," said Roger Ramsey, chairman and CEO of VeriCenter. "We value our strategic relationships with BMC Software and Intel Capital, so we are thrilled to add these companies as shareholders of VeriCenter."

"VeriCenter provides a compelling solution for growing businesses who want to focus on managing their business rather than their infrastructure," said Kirill Tatarinov, senior VP and CTO at BMC Software. "As the Internet continuously changes the way we communicate and collaborate, business customers increasingly will choose to turn to ASPs for advanced solutions."

"The Internet is accelerating the convergence of communications and computing. VeriCenter is tapping the power of this convergence by utilizing Intel products to deliver faster website performance and lower operating costs for its hosting customers," said Scott Richardson, general manager, Internet Management and Appliance Division at Intel Corporation.

One of the world's largest independent software vendors (ISVs), BMC Software delivers the most comprehensive e-business systems management software with the fastest guaranteed implementation. BMC Software is a Forbes 500 company and a member of the S&P 500, with fiscal year 2000 revenues exceeding $1.7 billion. The company is headquartered in Houston, Texas, with offices worldwide.

Based in Dallas, Broadband Venture Partners, LLC (BVP) provides equity capital and value-added services to privately held growth companies, focusing on the ASP industry. BVP portfolio companies include ComSpace Corporation, Cynergy System Design Inc., eTopware Inc., PaeTec Communications Inc., Picasso Software Inc., Tavve Software Inc., Telecom Technologies Inc. and VeriCenter Inc.

Intel Capital, Intel Corporation's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests.