SANTA CLARA, CA, May 23, 2001 - Atreus Systems™, Inc., a leader in developing intelligent broadband service creation and delivery platforms for service providers and carriers, today announced they have closed a $17.0 million (USD) Series B round of funding led by SOFTBANK Venture Capital (SBVC). Gary Rieschel, executive managing director at SBVC will join Atreus Systems' board of directors.
SBVC was joined in this round by existing investors Blueprint Ventures of San Francisco, and Skypoint Capital of Ottawa, Canada.
"In today's market environment, we are pleased SBVC and our other investors have recognized that Atreus Systems' business model and product strategy for helping service providers to quickly create and deliver value-added services as being an attractive investment," said Atreus CEO and Co-Founder Andrea Baptiste. "SBVC's extensive experience in telecommunications and international markets and the high level of synergy between Atreus and many of their portfolio companies made them a logical choice to lead this round for us. We also look forward to having Gary on the board with his experience in building successful companies in the telecommunications industry as we move into the next stage of growth for the company."
"The world-class team at Atreus has developed a unique software solution that clearly addresses the major pain point for carriers of extracting more value from their networks. Atreus achieves this enabling the rapid definition, creation and delivery of applications valued by their customers," said Gary Rieschel, executive managing director at SBVC. "The early acceptance of these products in the market was one of the drivers behind our investment in Atreus. We are excited to have Atreus Systems as one of our portfolio companies."
Atreus xAuthority™, Atreus Systems' flagship product, is an intelligent service creation management platform for the delivery of customized, bundled IP based services. It's an open software platform that enables providers to increase revenue per customer and reduce the operational costs of implementing and managing IP-based network, application and content services.
When coupled with Atreus xServiceDrivers™ the Atreus Service Creation Solution creates the service and network intelligence required to support the delivery of specific services. Unique to the Atreus solution, service drivers, are software plug-in modules that enable providers to rapidly launch a service offering, create service bundles and quickly integrate existing hardware or introduce new network and computing elements needed to support a service offering. These modules further allow the xAuthority to automatically communicate service configuration policies in protocols native to an applicable service delivery point device such as an Internet Appliance, IP Service Switch, etc. in order to effect provisioning changes for instantaneous service delivery. And, these services are then accessible to the end user through Atreus xPortal Software™, which features a single login point to self-activate services.
SBVC works with the best entrepreneurs to create the most powerful companies of the Internet economy. SBVC has $2.5 billion under its management, over 150 leading Internet companies in its portfolio, and an unparalleled investment team of former CEOs and entrepreneurs, technology pioneers, senior executives from major technology corporations, and leaders from the investment banking community. Companies in its portfolio include Art Technology Group, E*TRADE, Interliant, iPrint.com, Net2Phone, PeoplePC, Preview Systems, Support.com and TeraBeam Networks. For more information, visit http://www.sbvc.com.
About Atreus Systems
Atreus Systems™ is a leading developer of intelligent broadband service creation and delivery platforms for service providers and carriers. The company's proven software solutions enable service providers and carriers to increase profitability per customer by creating and delivering customized, bundled IP, application and content services over broadband networks. Atreus Systems, headquartered in Santa Clara, California, is a privately held company financed by leading telecom venture capital firms SOFTBANK Venture Capital, Blueprint Ventures, and Skypoint Capital. For more information, visit the company's web site at atreus-systems.com or call .
