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05/11/2006

Hyperic Announces Series A Venture Capital Funding From Accel Partners

Hyperic recently announced it has received first round Series A Venture Capital investment from Accel Partners, a well-known Silicon Valley venture capital company. Hyperic is a leader in open management frameworks for IT operations.

Hyperic is planning to use the funding to form Hyperic�s business model and product lines in order to address new opportunities in the IT management space.

�Today�s funding announcement is in recognition of the innovation and value that Hyperic has generated in the field of IT operations management,� said Javier Soltero, Hyperic CEO. �In just a few short years, Hyperic has become a recognized leader in solutions that enable companies to easily and cost-effectively manage large-scale IT infrastructures through a single, comprehensive interface. Accel Partners is a top-tier VC firm and we welcome the financial and human resources it has extended to us.�

�Since its founding in 2004, Hyperic has solved a very hard problem�building a systems management product that is well packaged and easy to use, but serves complex needs. They have delighted customers in the process,� said Kevin Efrusy, partner at Accel Partners. �Through today�s investment we look forward to supporting the efforts of Hyperic�s management team as it takes the next step in seizing new opportunities in the changing application software market.�

Hyperic�s unified IT management solution, Hyperic HQ, offers cross-platform and cross-technology discovery, monitoring, alerting, reporting and control of enterprise IT assets. The product has been acquired and used by many worldwide companies, including several Fortune 100 companies, and today manages many of the world�s largest Web infrastructures. The success of Hyperic�s flagship product enabled the company to be profitable since its founding, and to self-fund its growth until the present time.

�Hyperic has the potential to dramatically increase its presence in the IT management space, even to lead a new era of ease of use, pervasiveness and openness,� stated Bickel. �By adapting its business model to the changing application delivery landscape, we see the opportunity for Hyperic to pre-empt the market and establish itself as the leader of open, interoperable platforms in the management systems technology field.�