Evident Software Completes Series B Round of Funding

NEWARK, N.J., March 23 /PRNewswire/ -- Evident Software, a leading provider of innovative, scalable and proven real-time intelligence for managing high-performance IT, today announced it has secured Series B financing and hired a new chief executive officer.  

The new round comes from the same investor group that participated in the company's Series A financing including Next Stage Capital and Emerald Stage Capital.  Proceeds will be used to further Evident's expansion in the application performance management market, extending its existing solutions for grids and data caching including Oracle Coherence™ into more general purpose use such as IT clouds.

Scott Barnett, age 43, a resident of Morganville, N.J., has been appointed CEO of the company. The founding CEO and company co-founder, Roger Boyce, has become chairman.  

Mr. Barnett, an enterprise software executive with more than 20 years experience, enjoys a strong track record in increasing revenue and assisting companies to position themselves for growth. Most recently, Mr. Barnett co-founded and served as COO at Bluenog Corp., an enterprise software and solutions company.  At Bluenog, he executed corporate strategy that resulted in the creation of new business, client retention and development of products.  His IT career includes sales, marketing and product management leadership positions with companies such as BEA Systems, Atomica Corporation, eB2B Commerce Inc., IBM Transarc and AT&T Bell Laboratories. Mr. Barnett will be based in the company's Asbury Park, N.J. research and development office.

"Scott is a dynamic leader and visionary who understands the intersection of new technology and revenue generation," said Mr. Boyce.  "His years of experience launching enterprise software products and growing startups will be a valuable asset to our organization."

Mr. Barnett plans to further enhance the company's position by expanding product and business development for Evident ClearStone Live, a real-time intelligence solution for managing high performance IT.  The company's monitoring and management tools address the scale and dynamic capacity required for cloud-based services and caching intensive applications.  Evident provides the analytics, visualization and automation needed to achieve the service levels businesses and customers demand for applications from e-commerce web sites to real-time risk analytics in financial services.  

"Evident Software is today solving important pain points in the high-performance computing market, particularly around technologies such as Oracle Coherence and Tibco GridServer," said Mr. Barnett.  "ClearStone Live is already best in class, technologically, and the new capital will enable us to broaden our appeal for general use across other technologies and use cases."  

About Evident Software

Evident Software delivers innovative, scalable and real-time solutions for managing high-performance IT. The company's unique capabilities for high-performance computing (HPC), extreme transaction processing (XTP) and data caching platform (DCP) environments are critical to meeting the fast evolving requirements for compute, data and application grids. Evident's solutions are installed in the financial, SaaS/cloud, e-commerce, government and IT services industries.  The company is based in Newark, N.J. with research and development facilities in Asbury Park, N.J.

SOURCE Evident Software