SOURCE: WebLayers

July 16, 2007 09:28 ET

WebLayers Secures $7 Million to Expand Leadership Position in Automating SOA Governance

Ascent Venture Partners is Joined by Existing Investors Cedar Fund and Veritas Venture Partners in Third Round of Financing

CAMBRIDGE, MA--(Marketwire - July 16, 2007) - WebLayers, Inc., the market leader in automated SOA Governance software, today announced that the company has raised $7 Million in Series C funding. The round was led by Ascent Venture Partners, and included existing investors Cedar Fund and Veritas Venture Partners.

"We are very impressed with WebLayers' blue-chip customer roster, strong partnerships with industry leaders, and market-leading technology," stated Geoff Oblak, Partner at Ascent Venture Partners. "The SOA infrastructure market is growing rapidly and WebLayers is well positioned for long-term success. "

WebLayers will use the additional funding to increase its worldwide sales presence, expand its ability to deliver enterprise-class products and extend its professional services and support capabilities to accommodate a growing roster of customers and partners.

The new funding follows the most successful quarter in the company's history, with record revenues and new customers. (See related announcement today at http://www.weblayers.com/company_news.htm)

WebLayers Center is the industry's first and only platform-independent policy management system that automates the manual governance required throughout the SOA lifecycle.

"In 2006 the market embraced the need for policy management generating significant momentum for WebLayers, and in the first half of 2007 we've experienced explosive growth," said Gregg Bjork, CEO of WebLayers. "The experience that Ascent Venture Partners brings will be a tremendous asset to us as we use this new funding to accelerate our next growth phase and further extend our position as the leading policy management solution for service-oriented architectures."

About WebLayers

WebLayers is the market leader for automated SOA governance. WebLayers Center™, the company's flagship product, is a policy management solution that automates what has traditionally been a manual, labor intensive process of enforcing governance policies. In use today at many of the world's largest companies and government agencies, WebLayers Center is the only solution to ensure compliance throughout the lifecycle which provides the necessary visibility and guidance to govern effectively. WebLayers is also the founder and coordinator of The SOA Forum, an industry roundtable of executives who are mandated with the challenging mission of driving a Service Oriented Architecture (SOA) within their organizations. The SOA Forum is celebrating over three years of successful and interactive collaboration between its members. Today the Forum includes over 1,300 members representing more than 400 organizations. A private company founded in 2002, WebLayers is headquartered in Cambridge, Massachusetts. For more information please visit http://www.weblayers.com

About Ascent Venture Partners

Ascent has been investing in early stage, emerging technology companies since 1985. In backing over 85 companies, Ascent has remained committed to its mission of investing in exceptional entrepreneurs striving to build innovative market leaders. Ascent is an active and supportive investor, taking pride in the number of entrepreneurs who choose to work with Ascent on multiple opportunities. With over 80 years of combined venture capital experience, the Ascent investment team manages $380M in committed capital, including its current fund of $140M. Additional information is available at www.ascentvp.com

About Cedar Fund

Cedar Fund is a venture capital firm, investing in high technology companies. Cedar Fund seeks to invest in outstanding entrepreneurs pursuing high growth markets with distinguished technologies in the telecommunications, networking, Internet-infrastructure and enterprise software areas. With its quality investment track record and over $225 million under management, Cedar Fund is among the largest and most notable venture capital firms focusing on Israel-related, early stage investments.

About Veritas Venture Partners

Veritas Venture Partners is Israel's most experienced venture capital firm. Veritas invests primarily in technology-based early stage companies. With a base in Herzliya, Israel, and an office in Atlanta, we focus on opportunities originating in (or related to) Israel, or along the East Coast of the US. Our primary areas of focus are enterprise software, network communications and healthcare.

Contact Information

  • Press Contacts:

    Dan Potter
    WebLayers, Inc.
    617-500-2282
    Email Contact