Evergreen Partners is leading a $10 million financing round for Etagon. Decima Ventures, a US-Israeli VC fund that invested in Etagon at the seed stage, will invest further.
With the headquarters in New York, and an R&D center in Israel, Etagon develops breakthrough technology solutions for data centers. Rony Zarom, Etagon’s CEO, was the Founder of Exalink, which was acquired by Comverse in 2000 for $550 million. Evergreen was a major shareholder of Exalink at the time of the acquisition.
Rony Zarom said that Etgaon has developed a unique solution for the Appliance Server market, which enables combining several data centers on a single, dedicated appliance server, thus reducing substantially the costs and the complexities involved in database deployment. Zarom added that although relatively new, this market is expected to grow significantly in the next few years. Zarom also said that Etagon’s technology would gain a considerable edge in this emerging market upon the introduction of the first Oracle 9i Real Application Cluster Appliance Server.
Boaz Dinte, partner at Evergreen Partners, added that at a time when customers are making efforts to save on databases deployment, management and maintenance costs, Etagon’s Database Appliance Server is an efficient, simple IT solution for complex environments with extensive operational and human resources. Dinte said that Etagon’s product merges well with the next-generation strategy of Oracle, the database market world leader.
The investment in Etagon will be made out of the Evergreen IV fund,. This is the third investment Evergreen has made in the past few months. Dinte said that the Fund is currently evaluating investments in several additional companies.
Evergreen Partners, one of Israel's leading venture capital funds, has approximately $600 million of private equity capital under management. Having invested in some 85 technology companies, Evergreen participated in many of the most successful exits in Israel's venture capital industry. Some of these include Backweb, Ceragon, Creo, Exalink, Galileo, Radvision, and Radware. Additional prominent investments made by Evergreen include Adjungo, Aduva, Bigband, P-Cube, Exanet, Envara, GalayOr, ProCognia, Traiana, and Zetiq.
Decima Ventures is a US-Israeli venture capital fund specializing in cultivating in-house innovative business opportunities.
Published by Globes [online] - www.globes.co.il - on 24 July 2002