Kenamea Closes $32 Million Series C Round

Participants Include Azure Capital Partners, Lightspeed Venture Partners,

Crosspoint Venture Partners and Other Strategic Investors



Apr 16, 2001, 01:00 ET from Kenamea, Inc.

    SAN FRANCISCO, April 16 /PRNewswire/ -- Kenamea, Inc., an enterprise
 software company that delivers an Application Network to enable reliable and
 real-time interactive business applications over the Internet, today announced
 that it has successfully closed a $32 million Series C funding round. The
 round includes Azure Capital Partners, Lightspeed Venture Partners and
 previous investor Crosspoint Venture Partners. Palm Ventures, the strategic
 investment group of Palm, Inc., also participated, as announced in
 February 2001. Kenamea was co-founded in August 1999 by John Blair and by
 Bob Pasker, founder of WebLogic and Chief Architect of the WebLogic
 Application Server. Kenamea has now raised a total of $40.5 million in venture
 funding that includes a Crosspoint-led round of $8.5 million in June 2000.
     Applications are the next frontier of the Internet; they are the means by
 which businesses move their core processes onto the Internet to streamline
 operations and to exploit new markets. However, today's Web applications do
 not meet business needs for reliability, power, and security. Those failures
 arise from the Web server/browser communications foundation on which they are
 built -- a foundation intended for building documents, not applications.
 Kenamea provides a new foundation that eliminates those problems, allowing
 businesses to deploy Internet applications with power, reliability, and
 interactivity unachievable on the Web today.
     "Yesterday's Internet was about content; the future of the Internet lies
 in applications and services. To remain competitive, businesses need their
 Internet applications to deliver the reliability, power, and security that
 they demand from desktop applications," said John Blair, CEO and President,
 Kenamea. "Kenamea meets that need. We believe Kenamea will be a strategic
 technology for our customers, and will become a cornerstone of the
 application-centric Internet."
     "Azure invests in companies with two characteristics -- transformative
 technology capable of creating a major new space, and a world-class management
 team with the proven ability to turn that vision into reality," said
 Mike Kwatinetz, a General Partner at Azure Capital. "Kenamea has both -- we
 believe they will be the market leader in Application Networks."
     "Lightspeed has had a successful record in investing in breakthrough
 technology infrastructure companies," said Peter Nieh, General Partner,
 Lightspeed Venture Partners. "Lightspeed was an early investor in the
 application server space and believes that Kenamea's software will have an
 equally fundamental impact on Web applications."
     "Our second investment in Kenamea reaffirms Crosspoint's belief in both
 the team and the market need that they are addressing," said Bob Lisbonne,
 General Partner at Crosspoint Venture Partners. "Kenamea represents a new
 Internet communications model that will fundamentally transform the way
 applications run on the Internet."
     Kenamea's software enables the Global 2000 and independent software
 vendors to build mission-quality Internet applications for the first time, and
 the company sees significant customer momentum in such diverse segments as
 financial services, workflow, business process integration, and media. The
 company is also focused on establishing partnerships with leading system
 integrators, platform vendors, original equipment manufacturers and hardware
 providers. Kenamea currently counts more than one hundred companies in its
 pilot program, and anticipates the general availability of its service and
 licensed product offering in mid-2001.
     The Kenamea Board of Directors will be joined by new members
 Mike Kwatinetz, Azure General Partner and former Global Head of Credit Suisse
 First Boston Equity Technology Research Group, and Peter Nieh, Lightspeed
 General Partner, who led Lightspeed's investments in companies such as
 DoubleClick, Informatica, KIVA Software and Phone.com. Bob Lisbonne,
 Crosspoint General Partner and former SVP of Browser Product Development at
 Netscape, and Bill Donner, former Chief Architect at Reuters and a partner at
 Fenway Partners, will remain on the Board, along with Mr. Blair and
 Mr. Pasker. Prominent angel investor and Advisor to the Board John Landry was
 a senior advisor to IBM and formerly CTO at Lotus Development Corporation.
 
     About Azure Capital Partners
     Founded in April 2000 with a focus on infrastructure technologies, Azure's
 philosophy of investing is a platform approach of supporting and accelerating
 companies throughout their lifecycle of growth, ranging from early seed stage
 through maturity in the public markets.
 
     About Lightspeed Venture Partners
     Lightspeed Venture Partners, formerly Weiss, Peck & Greer Venture
 Partners, combines extensive venture capital and operating experience to
 assist entrepreneurs in creating industry-leading technology companies.
 Lightspeed focuses on early stage investments in product and service companies
 in the areas of Internet, software and communications. To date, the partners
 of Lightspeed have contributed to the success of over 250 companies including
 FedEx, Adaptec, Airgate PCS, Brocade, Ciena, DoubleClick, Electronics for
 Imaging, Informatica, Metasolv, Phone.com, and Kiva Software.
 
     About Kenamea
     Kenamea delivers an Application Network for next-generation Web
 applications and services. John Blair and Bob Pasker founded the
 San Francisco-based company in August 1999. Kenamea's executive management
 team has proven experience in Internet infrastructure software. Bob Pasker,
 CTO and co-founder, was chief architect of the WebLogic Application Server,
 which created, and now as part of BEA Systems, dominates the Java application
 server market. John Blair, CEO and co-founder, was previously a partner at
 Regis McKenna Inc. and co-founded Hypertec Pty. Ltd, one of Australia's
 premier IT companies. Steve Friedman, SVP Sales and Alliances, has over
 15 years experience in senior sales and business development positions with
 industry leaders such as WebLogic, BEA, and Verity. For more information,
 visit http://www.kenamea.com .
 
 

SOURCE Kenamea, Inc.
    SAN FRANCISCO, April 16 /PRNewswire/ -- Kenamea, Inc., an enterprise
 software company that delivers an Application Network to enable reliable and
 real-time interactive business applications over the Internet, today announced
 that it has successfully closed a $32 million Series C funding round. The
 round includes Azure Capital Partners, Lightspeed Venture Partners and
 previous investor Crosspoint Venture Partners. Palm Ventures, the strategic
 investment group of Palm, Inc., also participated, as announced in
 February 2001. Kenamea was co-founded in August 1999 by John Blair and by
 Bob Pasker, founder of WebLogic and Chief Architect of the WebLogic
 Application Server. Kenamea has now raised a total of $40.5 million in venture
 funding that includes a Crosspoint-led round of $8.5 million in June 2000.
     Applications are the next frontier of the Internet; they are the means by
 which businesses move their core processes onto the Internet to streamline
 operations and to exploit new markets. However, today's Web applications do
 not meet business needs for reliability, power, and security. Those failures
 arise from the Web server/browser communications foundation on which they are
 built -- a foundation intended for building documents, not applications.
 Kenamea provides a new foundation that eliminates those problems, allowing
 businesses to deploy Internet applications with power, reliability, and
 interactivity unachievable on the Web today.
     "Yesterday's Internet was about content; the future of the Internet lies
 in applications and services. To remain competitive, businesses need their
 Internet applications to deliver the reliability, power, and security that
 they demand from desktop applications," said John Blair, CEO and President,
 Kenamea. "Kenamea meets that need. We believe Kenamea will be a strategic
 technology for our customers, and will become a cornerstone of the
 application-centric Internet."
     "Azure invests in companies with two characteristics -- transformative
 technology capable of creating a major new space, and a world-class management
 team with the proven ability to turn that vision into reality," said
 Mike Kwatinetz, a General Partner at Azure Capital. "Kenamea has both -- we
 believe they will be the market leader in Application Networks."
     "Lightspeed has had a successful record in investing in breakthrough
 technology infrastructure companies," said Peter Nieh, General Partner,
 Lightspeed Venture Partners. "Lightspeed was an early investor in the
 application server space and believes that Kenamea's software will have an
 equally fundamental impact on Web applications."
     "Our second investment in Kenamea reaffirms Crosspoint's belief in both
 the team and the market need that they are addressing," said Bob Lisbonne,
 General Partner at Crosspoint Venture Partners. "Kenamea represents a new
 Internet communications model that will fundamentally transform the way
 applications run on the Internet."
     Kenamea's software enables the Global 2000 and independent software
 vendors to build mission-quality Internet applications for the first time, and
 the company sees significant customer momentum in such diverse segments as
 financial services, workflow, business process integration, and media. The
 company is also focused on establishing partnerships with leading system
 integrators, platform vendors, original equipment manufacturers and hardware
 providers. Kenamea currently counts more than one hundred companies in its
 pilot program, and anticipates the general availability of its service and
 licensed product offering in mid-2001.
     The Kenamea Board of Directors will be joined by new members
 Mike Kwatinetz, Azure General Partner and former Global Head of Credit Suisse
 First Boston Equity Technology Research Group, and Peter Nieh, Lightspeed
 General Partner, who led Lightspeed's investments in companies such as
 DoubleClick, Informatica, KIVA Software and Phone.com. Bob Lisbonne,
 Crosspoint General Partner and former SVP of Browser Product Development at
 Netscape, and Bill Donner, former Chief Architect at Reuters and a partner at
 Fenway Partners, will remain on the Board, along with Mr. Blair and
 Mr. Pasker. Prominent angel investor and Advisor to the Board John Landry was
 a senior advisor to IBM and formerly CTO at Lotus Development Corporation.
 
     About Azure Capital Partners
     Founded in April 2000 with a focus on infrastructure technologies, Azure's
 philosophy of investing is a platform approach of supporting and accelerating
 companies throughout their lifecycle of growth, ranging from early seed stage
 through maturity in the public markets.
 
     About Lightspeed Venture Partners
     Lightspeed Venture Partners, formerly Weiss, Peck & Greer Venture
 Partners, combines extensive venture capital and operating experience to
 assist entrepreneurs in creating industry-leading technology companies.
 Lightspeed focuses on early stage investments in product and service companies
 in the areas of Internet, software and communications. To date, the partners
 of Lightspeed have contributed to the success of over 250 companies including
 FedEx, Adaptec, Airgate PCS, Brocade, Ciena, DoubleClick, Electronics for
 Imaging, Informatica, Metasolv, Phone.com, and Kiva Software.
 
     About Kenamea
     Kenamea delivers an Application Network for next-generation Web
 applications and services. John Blair and Bob Pasker founded the
 San Francisco-based company in August 1999. Kenamea's executive management
 team has proven experience in Internet infrastructure software. Bob Pasker,
 CTO and co-founder, was chief architect of the WebLogic Application Server,
 which created, and now as part of BEA Systems, dominates the Java application
 server market. John Blair, CEO and co-founder, was previously a partner at
 Regis McKenna Inc. and co-founded Hypertec Pty. Ltd, one of Australia's
 premier IT companies. Steve Friedman, SVP Sales and Alliances, has over
 15 years experience in senior sales and business development positions with
 industry leaders such as WebLogic, BEA, and Verity. For more information,
 visit http://www.kenamea.com .
 
 SOURCE  Kenamea, Inc.