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Press Releases
Nominum Secures $10 Million in Series C Funding
Feb 20 2003
Globespan Capital Partners Leads Round That Funds Nominum’s Continued Global Expansion and Strategic Partnerships
REDWOOD CITY, Calif., February 24, 2003 - Nominum, a pioneering provider of IP address infrastructure software, today announced completion of a $10 million dollar round of series C financing from some of the most successful venture capital firms in the country. Globespan Capital Partners (formerly JAFCO Ventures) led the oversubscribed round, with participation from Nominum’s existing investors Bessemer Venture Partners and Morgenthaler Ventures, and new investor Silicon Valley BancVentures. The new funds bring the total equity investment in Nominum to $26 million. This financing is an up round from the company’s series B funding.
Nominum will use this investment to expand worldwide sales and business operations in support of its Nominum Foundation™ product family of IP address management solutions. Additionally, the company will enter new geographic markets in Asia and expand its European presence to answer strong worldwide demand for its products, fueled by the increasing transition of business processes to corporate intranets and the Internet. As a result, enterprises are increasingly reliant on their IP asset infrastructures, which are critical for maintaining service levels and business continuity.
“Nominum’s growth potential, as demonstrated in 2002, makes the company an attractive investment in an important market,” says Jon Callaghan, managing director, Globespan Capital Partners. “With a team of recognized IP address management experts, innovative products and solid customer traction, we believe Nominum is in a strong position for profitable growth. The company is clearly driving the industry towards stronger and more scalable IP address management solutions through technical leadership, years of unrivaled expertise and a dedicated focus on IP address issues.”
“Today’s IT environment is mired in a crisis of complexity due to the proliferation of web applications, data centers and IP-based devices of all kinds. Businesses benefit immensely from using the Internet and intranets to access information, but the complex underlying infrastructure is increasingly difficult to manage,” says Ken Gullicksen, partner with Morgenthaler Ventures. “We believe that virtualization of IP services is a key part of solving this problem, and we continue to invest in Nominum because it provides the superior solution in terms of scalability, flexibility and performance.”
Nominum Foundation IP Address Suite makes it easier for large organizations to deploy and manage IP networks as corporate resources. With the Foundation Suite, companies can adapt networks quickly to business changes and can gain control of IP assets to improve network availability, security and extensibility.
About Nominum
Nominum is a pioneering provider of IP address infrastructure software for enterprises that require reliable and secure DNS, DHCP and IP address management for their mission critical networks. Nominum is driving the future of IP addressing. For more information about Nominum, go to www.nominum.com.
About Globespan Capital Partners
With offices in Palo Alto and Boston, Globespan Capital Partners is an independent venture capital firm focusing on information technology. Globespan has a unique position in the US venture capital industry due to its ability to provide portfolio companies access to Asian customers and partners. Globespan manages several funds, including JAFCO America Technology Fund III and Globespan Capital Partners IV. Some of the firm's investments include Aptis, Argon, Avanex, Brocade, Digital Island, edocs, Monterey Networks, Net Perceptions, Obsidian, Ocular, Pirus, Sentient Networks, and Silknet Software. For more information, visit www.globespancapital.com.
About Morgenthaler
Morgenthaler is a leading venture capital and buyout firm, with a 34-year history of working with outstanding entrepreneurs to build world-class companies. The firm’s venture capital practice, Morgenthaler Ventures, is based in Menlo Park, CA. It also has satellite offices in Boston, MA; Boulder, CO; Dallas, TX; and Princeton, NJ. Morgenthaler Ventures focuses its investments in the areas of enterprise IT, life sciences, and communications and components. It has funded more than 180 companies since its inception, including two of the last decade’s highest-performing IPOs – Microchip Technology (1993) and Premisys Communications (1995). The firm has a total of $2 billion under management. Morgenthaler can be found at www.morgenthaler.com.
About Bessemer Venture Partners
Bessemer Venture Partners, with offices in California, Massachusetts and New York, is the leading national, early-stage venture capital firm in communications technology and Internet infrastructure. The firm manages more than a billion dollars of venture funds, carrying on a tradition of hands-on, active venture investing that has continued since 1911. Many leading-edge companies, including Cascade, Ciena, Parametric, QED, Sirocco, Sonus Networks and VeriSign selected BVP as their early-stage venture partner. For more information, visit www.bvp.com.
About Silicon Valley BancVentures
Silicon Valley BancVentures invests in technology and life sciences companies across stage and industry sectors. The fund co-invests along top-tier venture firms and is highly selective in its investment decisions. In addition to choosing companies that can provide superior financial returns, the fund selects those companies to which it can add value, including providing proprietary expertise, resources and unique access to the global network of Silicon Valley Bank. For more information, visit www.svb.com.
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