Funding Led by Toba Capital and FCA Venture Partners
to Grow Sales, Marketing and Further Product Innovation
ALPHARETTA, GA - August 13, 2013
Catavolt, Inc., creator of the world's first cloud middleware enterprise mobility platform, today announced the close of a $5M Series B investment round. San Francisco-based, Toba Capital, recently formed by Vinny Smith, former CEO and Founder of Quest Software, led the round in cooperation with Nashville, Tennessee-based FCA Venture Partners, an existing investor in Catavolt and Series A participant. The capital received from this round will be used to expand the sales organization, market the company's cloud middleware platform more aggressively, and further expand the product innovation team.
Fran Dramis, former CIO of Bellsouth and current CEO of F. Dramis LLC, has been elected Chairman of the Board of Directors. FCA Venture Partners' Advisory Board Member George Salem, Catavolt Chief Executive Officer George Mashini and Catavolt Chief Technology Officer Glenn Osborne will all retain their positions on the Board of Directors.
Companies worldwide are tackling the rising demand for enterprise mobility, BYOD, and how to address line of business requests for more productive mobility solutions. Catavolt's unique, patented cloud middleware architecture can aggregate data from all varieties of enterprise systems, and deliver the data through the cloud, securely to mobile devices. Companies receive a highly secure solution that prolongs existing investments, requires few IT resources, and little time to implement. Business users gain a high performance user experience that enhances productivity and provides a differentiated advantage in their markets. Catavolt Extender's unparalleled security is currently in use worldwide, helping customers in healthcare organizations comply with HIPAA requirements and contractors to the U.S. Department of Defense keep the military supply chain secure. By drastically reducing applications maintenance requirements from IT, and increasing business user productivity, companies realize quick and significant return on investment.
"Catavolt has the capability to redefine enterprise mobility as we know it today," said Vinny Smith, founder of Toba Capital. "IT departments that need to meet the challenge of mobility, whether in a company-supplied or Bring-Your-Own-Device (BYOD) environment, can deploy secure, scalable applications to multiple device types, as well as utilize current infrastructure investments without heavy lifting. They truly get the full package with Catavolt."
"Mobile enabling the workforce has proven to be a competitive edge for enterprises both large and small. The challenge is unlocking the business process that is walled off in hard to reach and often legacy back-end systems," said Catavolt Chief Executive Officer George Mashini. "Catavolt provides a low risk, secure and scalable way to connect people to their corporate apps on the mobile devices they already use. We have enabled our customers to be more agile and to gain market share by making their employees better equipped to do their jobs. This expansion will help us reach more markets while taking our product to the next level."
About Toba Capital
Toba Capital is a venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, the founder of Patrol Software and former CEO of Quest Software.
About FCA Ventures
FCA Venture Partners, the venture capital manager of Clayton Associates, was founded in 1996 by R. Clayton McWhorter, founder of HealthTrust, Inc. and former chairman of Hospital Corporation of America to serve as a platform for investing in transformational healthcare and technology related strategies. FCA Venture Partners fifth fund, FCA V, is focused on healthcare services and information technology businesses in early to growth stages with disruptive, scalable business models, led by strong management teams with sector specific expertise. FCA and its affiliates have invested $175 million in over 85 companies to date, resulting in more than $7 billion in annualized revenue. For more information, visit www.claytonassociates.com. venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, the founder of Patrol Software and former CEO of Quest Software.
About Catavolt, Inc.
Catavolt delivers an enterprise-grade cloud service that provides mobile knowledge workers with instant and secure access to enterprise data on mobile devices. Catavolt Extender provides an alternative to complex, time-consuming and costly mobile development platforms. The solution empowers organizations to leverage existing IT system assets in developing mobile applications. Catavolt is based in Alpharetta, GA and serves companies in a wide variety of industries. For more information about Catavolt and its Extender solution, visit www.catavolt.com.