SOURCE: SevOne

April 22, 2009 09:30 ET

SevOne Secures Funding From Osage Partners to Further Advance Its Performance Management Market Leadership

New Funding to Accelerate Growth in Global 2000, Federal Government and Service Provider Markets and to Support Ongoing Development of New Products

NEWARK, DE--(Marketwire - April 22, 2009) - SevOne, an innovator in network, server and application performance management solutions, today announced that it has completed a Series B investment of $2.0 million led by Osage Partners, a Philadelphia-based venture capital fund focused on emerging technology companies. SevOne will utilize the additional funding for several strategic growth initiatives, including ongoing product development, expansion of resources for research and development of new technologies, and aggressive new vertical marketing and sales endeavors aimed at Global 2000 enterprises and federal government agencies and service providers.

"This latest round of funding reflects our success and momentum in the performance monitoring market," said Michael Phelan, CEO and president of SevOne. "While we are a profitable company that continues to secure new customers in a challenging economy, the support of Osage Partners allows us to accelerate the execution of our strategy within new markets and positions us for both short-term and long-term success."

Among other strategic initiatives, SevOne will leverage its new funding to enhance the award-winning network, server and application performance monitoring framework, Performance Appliance Solution (PAS™). Future PAS features and capabilities will include a new reporting engine with drag-and-drop capabilities; global and personalized reporting dashboards; optimized NetFlow reporting engine; a new graphing engine, and enhanced analytics functionality, capable of dynamically provisioning performance thresholds based on past performance, with extremely high granularity.

SevOne recently announced a year-over-year revenue growth rate of 400% and that it secured Comcast, Kohler, Goodyear, Sterling Commerce, Nestle Purina, plus 3 of the world's top ten financial services institutions as new customers. Also, the company's Performance Appliance Solution recently received industry recognition by winning Internet Telephony Magazine's Product of the Year Award, Technology Marketing Corporation's (TMC) Unified Communications Product of the Year Award and eWeek's 2009 "Product to Watch" honor.

To view a demonstration of SevOne's Performance Appliance Solution, please visit http://www.sevone.com/demo-web.html. The demonstration illustrates real-world solutions to a variety of performance monitoring challenges including how a customer can identify a spike in network utilization and drill into Netflow data to rationalize what type of application traffic caused the spike.

"SevOne has proven its industry leadership by winning awards, developing new partnerships and growing its customer base in a difficult market," said Robert Adelson, managing partner at Osage Partners. "Their ability to transition major enterprise, federal government and service provider customers to new technologies that improve business processes and reduce power consumption makes SevOne well-positioned in a rapidly growing market."

Osage Partners, through its fund, Osage Ventures II, is an ongoing investor in SevOne, having led the Series A preferred investment in the company in September 2007.

About Osage Partners

Osage Partners is a Bala Cynwyd, PA based investment firm which manages three distinct venture capital and private equity funds investing across distinct industries, stages, and geographies. The funds include: Osage Ventures, which focuses on investing in early stage technology and healthcare companies in the Mid-Atlantic region; Osage University Partners, which partners with leading universities and serves as the co-investment vehicle for universities in companies based on their technology; and Osage Industries, which focuses on middle market buyouts in the manufacturing sector. Additional information is available at www.osagepartners.com.

About SevOne

SevOne, Inc. is a network performance management company dedicated to providing next-generation tools and services that enable enterprises, service providers, cable MSOs, and federal government agencies to keep increasingly complex networks, servers and applications functioning at peak performance levels. Based on a scalable and flexible modern software architecture incorporating open web-services API, Web 2.0 GUI and peer-to-peer clustering, the SevOne solution provides managers, architects and engineers with the most accurate and timely data available to ensure enterprise-wide network performance and reliability. For more information please visit www.sevone.com or call 302-368-5650.

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