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POSTINI CLOSES $10 MILLION IN SERIES C
New Capital to Accelerate Product Development
and Growing Customer Base
REDWOOD CITY - January 22, 2002 - Postini Inc., the leader in the seamless delivery of email management tools and applications functionality, today announced it has closed a $10 million series C. Led by investor Mobius Venture Capital (formerly SOFTBANK Venture Capital), the funding round also included new investors AltoTech Ventures and Pacifica Fund, as well as existing investors.
"Given the challenging environment for technology companies at this time, we are delighted to have attracted a major investor and partner in Mobius Venture Capital," said Shinya Akamine, CEO of Postini. "This last round of financing, and our continued quarter on quarter sales growth demonstrates that we are a significant player in the email market."
Postini plans to invest heavily to increase market share in existing markets, as well as to strategically enter new markets. Additionally, Postini will continue to develop, deploy and sell additional products based on its scalable SMTP infrastructure technology.
As part of the investment, Mobius Venture Partner, Ryan McIntyre joins Postini's board of directors. "Mobius VC is still seeking out companies that represent tremendous opportunity," said McIntyre. "The challenge is in finding companies that live up to this potential by developing repeatable sales momentum and strong operational capabilities. Postini has built a foundation from which they can execute their strategic vision of making email a more efficient, reliable, manageable business asset."
McIntyre joins John Johnston of August Capital; Shinya Akamine, chief executive officer of Postini; and Scott Petry, founder and vice president of products and engineering to round out the Postini board.
Postini's prior investors include August Capital, Summit Accelerator Fund, and Sun Microsystems.
About Postini
Postini enables enterprise and Internet providers to seamlessly deploy
email management and applications functionality into their existing email
environment. Postini delivers services such as virus and spam protection,
wireless email delivery, integrated fax messaging, and comprehensive reporting
and administrative control. These services are deployed without placing
any additional burden on the email servers. With its patent-pending email
infrastructure, the Postini Message Platform, the company is redefining
the role of email as a critical communications asset. Founded in 1999,
the company is based in Redwood City, California and is privately held.
About Mobius Venture Capital
With offices in Mountain View, Calif. and Superior, Colo., Mobius Venture
Capital, formerly SOFTBANK Venture Capital, is a $2.5 billion U.S.-based
private equity venture capital firm managed by an unparalleled team of
former CEOs and entrepreneurs, technology pioneers, senior executives
from major technology corporations, and leaders from the investment banking
community. Mobius Venture Capital specializes primarily in early-stage
investments in the areas of: communications systems software and services;
infrastructure software and services; professional services; enterprise
applications; healthcare informatics; consumer and small business applications;
components; and emerging technologies. Mobius Venture Capital combines
its technology expertise and broad financial assets with the industry's
best entrepreneurs to create a powerhouse portfolio of over 100 of the
world's leading high technology companies. For more information on the
fund's investment team, technology vision and portfolio companies, please
visit www.mobiusvc.com.
About
AltoTech Ventures
AltoTech Ventures, LP is an early stage fund focused on enabling technologies,
software and services for the Internet, telecommunications and networking.
For more information on AltoTech Ventures, visit their website at www.altotechventures.com.
About Pacifica
Fund
Pacifica Fund is a Silicon Valley venture fund specializing in seed and
first round investments in emerging information technology companies.
They take an activist role in assisting ventures with strategy, business
development, and management mentoring. Due to the unique backgrounds of
its general partners, Pacifica Fund also has a special interest in opportunities
resulting from corporate R&D spinoffs, and involving trans-Pacific
marketing, technology or investment alliances. For more information on
Pacifica Fund, visit their website at www.pacificafund.com.
Press Contact
Whitney Klint
650-216-3544