Tendril Secures $5.25 Million in Venture Funding; Affirms Position as the Leading Network Operations Platform Company for Wireless Sensor and Control Networks

Vista Ventures Leads Series B Funding Round, Joined by Existing Investors

Access Venture Partners and Appian Ventures



Aug 08, 2006, 01:00 ET from Tendril

    DENVER, Aug. 8 /PRNewswire/ -- Tendril (www.tendrilinc.com) announced
 today that the company has secured $5.25 million in Series B funding to
 continue its growth as the leading provider of network operations platform
 software for developing and deploying Wireless Sensor and Control Networks
 (WSCN). Tendril's groundbreaking software is the first to support rapid,
 successful deployments of wireless sensor network technology, which is
 being used in a broad range of industries to integrate things in the
 physical world with existing computing systems. Vista Ventures, a Boulder,
 Colorado venture capital firm, led the round and was joined by existing
 institutional investors Access Venture Partners, Appian Ventures and angel
 investors.
     "Vista embraced the opportunity to lead this investment round because
 Tendril is first to market with software that meets a critical need in the
 large and growing low-power wireless network market," said Catharine
 Merigold, Managing Partner at Vista. "Combined with the strength of the
 management team and their partnerships in the market, Tendril is clearly
 best-in-class -- which is a key criterion we look for when we invest in and
 grow great companies. We look forward to working closely with Tendril to
 pursue this significant emerging market."
     Tendril's distributed platform allows organizations to fully leverage
 the power of WSCN implementations that integrate different types of
 low-power sensors/actuators with networked computing systems. Tendril's
 technology accomplishes this by providing an integrated enterprise-side and
 node-side programming interface, along with associated network bridging
 software, for monitoring, managing, and integrating wireless sensor and
 control networks. Tendril's approach allows OEMs to integrate wireless
 networking capabilities into their products in less than a week and
 provides system integrators with the ability to quickly add well-monitored
 WSCN to deployments in the field.
     "With this funding, Tendril will aggressively pursue its sales and
 marketing objectives, which include expanding its customer base in key
 markets where WSCN deployments are accelerating, such as the industrial
 control and building automation fields," said Tim Enwall, Founder, Chairman
 and COO of Tendril. "Tendril's software is critical to any deployment
 strategy for these networks, and this funding is a validation of the great
 traction Tendril has achieved in a short time."
     In a separate news release today, Tendril is also announcing that
 industry pioneer Adrian Tuck has joined Tendril as the company's CEO. Prior
 to becoming Tendril's CEO, Tuck was a member of Ember Corporation's
 executive team, and he is one of the most widely respected figures in the
 wireless sensor and control network industry.
     "There is a sizable market opportunity for Tendril's software because
 it addresses the most significant challenges of building and deploying
 low-power wireless sensor and control networks -- including monitoring and
 managing network performance, diagnostics, security, power, network
 commissioning and upward integration," said Adrian Tuck, CEO of Tendril.
 "Tendril's software is a first-of-its-kind solution for companies at the
 forefront of deploying these networks. This funding allows Tendril to
 translate its first-to-market position into a market leader position."
     To read the full news release about Adrian Tuck joining Tendril, visit
 www.tendrilinc.com.
     About Tendril
     Tendril is at the forefront of the "Internet of Things" -- the next big
 stage of computing -- which allows organizations to interact with the
 physical world in areas where computing has previously been
 cost-prohibitive. To achieve its vision, Tendril is leading the expansion
 of the Wireless Sensor and Control Networks category by developing a
 network operations platform for product OEMs and Integrators to integrate
 low-power wireless into their products and services in days, not months.
 This groundbreaking technology includes the first system software product
 of its kind to sit on top of a variety of low-power wireless sensor and
 control networks -- including ZigBee, 802.15.4 and proprietary
 802.15.4-based networks -- offering a distributed platform for monitoring,
 managing and integrating previously non-computerized activities related to
 buildings, factories, cities, crops, homes and other objects in the
 physical world. For more information about Tendril, visit
 www.tendrilinc.com.
     About Vista Ventures
     Vista Ventures focuses on investments in early and growth-stage IT,
 communications, media and data services, and nanotechnology companies that
 have the potential to become market leaders. With offices in Boulder and
 Fort Collins, Colorado, the firm's emphasis is on companies located in the
 Rocky Mountain region. Vista's investment approach focuses on being early
 investors and partnering with management teams to build companies that
 create new markets and change industries. For more information, visit
 www.vistavc.com.
     About Access Venture Partners
     Access Venture Partners is a seed and early-stage venture capital fund.
 The Fund invests between $250,000 and $2,000,000 in mid-continent
 technology companies with hyper-growth potential. The firm has offices in
 Austin, Denver and Silicon Valley, three of the most active technology
 markets in the country. Access Venture Partners is backed by large public
 pension plans, family offices, foundations, successful entrepreneurs and
 corporate executives. For more information, visit
 www.accessventurepartners.com.
     About Appian Ventures
     Appian invests in software and technologies that improve business
 performance through the application and management of network connectivity
 -- Applied Connectivity. In an increasingly decentralized and distributed
 commercial environment, Applied Connectivity represents the fastest-growing
 segments of the IT industry. With an investment philosophy best summed up
 as "Connect. Sharpen. Succeed." Appian pursues business opportunities with
 a whole-company approach that benefits the entrepreneur as much as it does
 Appian. The firm's investment emphasis is on seed and early-stage
 technology companies located in the Western U.S., but the firm also
 considers growth and late stage companies. For more information, visit
 www.appianvc.com.
 
 

SOURCE Tendril
    DENVER, Aug. 8 /PRNewswire/ -- Tendril (www.tendrilinc.com) announced
 today that the company has secured $5.25 million in Series B funding to
 continue its growth as the leading provider of network operations platform
 software for developing and deploying Wireless Sensor and Control Networks
 (WSCN). Tendril's groundbreaking software is the first to support rapid,
 successful deployments of wireless sensor network technology, which is
 being used in a broad range of industries to integrate things in the
 physical world with existing computing systems. Vista Ventures, a Boulder,
 Colorado venture capital firm, led the round and was joined by existing
 institutional investors Access Venture Partners, Appian Ventures and angel
 investors.
     "Vista embraced the opportunity to lead this investment round because
 Tendril is first to market with software that meets a critical need in the
 large and growing low-power wireless network market," said Catharine
 Merigold, Managing Partner at Vista. "Combined with the strength of the
 management team and their partnerships in the market, Tendril is clearly
 best-in-class -- which is a key criterion we look for when we invest in and
 grow great companies. We look forward to working closely with Tendril to
 pursue this significant emerging market."
     Tendril's distributed platform allows organizations to fully leverage
 the power of WSCN implementations that integrate different types of
 low-power sensors/actuators with networked computing systems. Tendril's
 technology accomplishes this by providing an integrated enterprise-side and
 node-side programming interface, along with associated network bridging
 software, for monitoring, managing, and integrating wireless sensor and
 control networks. Tendril's approach allows OEMs to integrate wireless
 networking capabilities into their products in less than a week and
 provides system integrators with the ability to quickly add well-monitored
 WSCN to deployments in the field.
     "With this funding, Tendril will aggressively pursue its sales and
 marketing objectives, which include expanding its customer base in key
 markets where WSCN deployments are accelerating, such as the industrial
 control and building automation fields," said Tim Enwall, Founder, Chairman
 and COO of Tendril. "Tendril's software is critical to any deployment
 strategy for these networks, and this funding is a validation of the great
 traction Tendril has achieved in a short time."
     In a separate news release today, Tendril is also announcing that
 industry pioneer Adrian Tuck has joined Tendril as the company's CEO. Prior
 to becoming Tendril's CEO, Tuck was a member of Ember Corporation's
 executive team, and he is one of the most widely respected figures in the
 wireless sensor and control network industry.
     "There is a sizable market opportunity for Tendril's software because
 it addresses the most significant challenges of building and deploying
 low-power wireless sensor and control networks -- including monitoring and
 managing network performance, diagnostics, security, power, network
 commissioning and upward integration," said Adrian Tuck, CEO of Tendril.
 "Tendril's software is a first-of-its-kind solution for companies at the
 forefront of deploying these networks. This funding allows Tendril to
 translate its first-to-market position into a market leader position."
     To read the full news release about Adrian Tuck joining Tendril, visit
 www.tendrilinc.com.
     About Tendril
     Tendril is at the forefront of the "Internet of Things" -- the next big
 stage of computing -- which allows organizations to interact with the
 physical world in areas where computing has previously been
 cost-prohibitive. To achieve its vision, Tendril is leading the expansion
 of the Wireless Sensor and Control Networks category by developing a
 network operations platform for product OEMs and Integrators to integrate
 low-power wireless into their products and services in days, not months.
 This groundbreaking technology includes the first system software product
 of its kind to sit on top of a variety of low-power wireless sensor and
 control networks -- including ZigBee, 802.15.4 and proprietary
 802.15.4-based networks -- offering a distributed platform for monitoring,
 managing and integrating previously non-computerized activities related to
 buildings, factories, cities, crops, homes and other objects in the
 physical world. For more information about Tendril, visit
 www.tendrilinc.com.
     About Vista Ventures
     Vista Ventures focuses on investments in early and growth-stage IT,
 communications, media and data services, and nanotechnology companies that
 have the potential to become market leaders. With offices in Boulder and
 Fort Collins, Colorado, the firm's emphasis is on companies located in the
 Rocky Mountain region. Vista's investment approach focuses on being early
 investors and partnering with management teams to build companies that
 create new markets and change industries. For more information, visit
 www.vistavc.com.
     About Access Venture Partners
     Access Venture Partners is a seed and early-stage venture capital fund.
 The Fund invests between $250,000 and $2,000,000 in mid-continent
 technology companies with hyper-growth potential. The firm has offices in
 Austin, Denver and Silicon Valley, three of the most active technology
 markets in the country. Access Venture Partners is backed by large public
 pension plans, family offices, foundations, successful entrepreneurs and
 corporate executives. For more information, visit
 www.accessventurepartners.com.
     About Appian Ventures
     Appian invests in software and technologies that improve business
 performance through the application and management of network connectivity
 -- Applied Connectivity. In an increasingly decentralized and distributed
 commercial environment, Applied Connectivity represents the fastest-growing
 segments of the IT industry. With an investment philosophy best summed up
 as "Connect. Sharpen. Succeed." Appian pursues business opportunities with
 a whole-company approach that benefits the entrepreneur as much as it does
 Appian. The firm's investment emphasis is on seed and early-stage
 technology companies located in the Western U.S., but the firm also
 considers growth and late stage companies. For more information, visit
 www.appianvc.com.
 
 SOURCE Tendril