E-business software provider Oblix Inc has announced the completion of a $24m round of funding with new and current investors. Cupertino, California-based Oblix, which provides directory-based corporate services automation software, said total financing for the three-and-a-half year old company has now topped over $38m.
New investors – in what amounts to the company’s fourth round of funding include – Cisco Systems Inc, Lehman Brothers, the Intel 64 Fund, Sumitomo Corp and its venture capital arm Presidio Venture Partners, CSK Venture Capital, Siemens Mustang Ventures, and Robertson Stephens Bayview 99. Current investors, including Kleiner Perkins Caufield & Byers and Novell Inc, also contributed to the round.
Oblix intends to use the cash to fund its growth plans, which include beefing up the engineering and sales staffs so the company can work on more projects as it continues to meet what it claims is increasing demand for its current offerings. Expansion in Europe – which the company feels is ahead of the US in terms of directory-based applications – is also in the cards, although specific plans have yet to be disclosed.
There is currently no timetable for an initial public offering in place, and the new money should be more than enough to carry Oblix through the next 12 months, according to VP of marketing Robert Drescher. The funding comes as new CEO Gordon Eubanks – former chief executive of Symantec Corp – begins to put his mark on the company, Drescher says, focusing primarily on customer needs and making sure that there are enough resources to meet them.
Oblix’ software is designed to create a secure foundation for e- business by delivering a user-profile driven network environment with trusted delegation, user self-service, publishing and automated workflow. The company says it will be optimizing its software for Intel’s upcoming IA64 product family, beginning with the Itanium processor. Oblix also supports all the major directory players including Microsoft, Netscape, Novell, Control Data Systems, IBM, and Isocor. á
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