SOURCE: Kazeon

August 07, 2006 09:00 ET

Kazeon Secures $21 Million in Financing

Funds Targeted to Help Company Meet Surge in Customer Demand

MOUNTAIN VIEW, CA -- (MARKET WIRE) -- August 7, 2006 -- Kazeon, the leader in Unstructured Information Management, today announced that it has received $21 million in its third round of venture capital financing, bringing the total investment in the company to $44 million. The investment syndicate includes Menlo Ventures, who led the round, and Focus Ventures with all existing investors increasing their investment in this round of financing. This funding round, in response to growing market demand, will allow Kazeon to expand US and International sales, marketing, and engineering to accelerate its time to profitability.

"Menlo Ventures carefully evaluated many companies delivering information management solutions and we are convinced Kazeon is the clear leader of the pack," said Arvind Purushotham, managing director of Menlo Ventures. "We invest in industry leaders that have the potential to alter the landscape and provide innovative solutions to customers. Kazeon solutions for enterprise search, information governance, and ILM are field proven and solve real customer problems."

"Firmly entrenched as a leader in unstructured information management, Kazeon demonstrates a clear understanding of customer problems and delivers strategic solutions for data privacy, security, and legal discovery," said Kevin McQuillan, general partner of Focus Ventures. "With its rapidly growing customer base, we believe the company will continue to accelerate revenue growth and strengthen its leadership position."

This successful round of funding caps off a year of impressive momentum and growth for the company marked by partnerships with Network Appliance, Google, Symantec, and Hitachi Data Systems as well as numerous industry accolades including the prestigious MVP Award for Most Innovative Product by InfoStor, the Gartner Cool Vendor award, and the Storage Management Product of the Year as determined by Storage Magazine and SearchStorage.com.

"Kazeon welcomes the additional support from Menlo, Focus and all of our original investors in this over-subscribed round of funding," said Sudhakar Muddu, CEO & founder of Kazeon. "Our undeniable momentum in the industry has paved the way for this successful round of funding and we are delighted for continued support from our investors and the welcome addition of Menlo and Focus Ventures as new investors."

About Kazeon

Kazeon simplifies the management of unstructured information stored across enterprise networks. Combining the disciplines of Enterprise Search, Content Management and Storage Management, our scalable and innovative approach enables companies to cost effectively manage their storage and mitigate the risk of unmanaged files. Kazeon delivers unmatched support for indexing, classification, search, reporting and data movement. These capabilities deliver IT and business solutions addressing tiered storage, compliance, legal discovery, and information security challenges through our unique ability to selectively index content within files. For more information, visit www.kazeon.com

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