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| Cape Clear Software Secures $15 Million in Series D Funding Cape Clear Software has successfully secured $15 million in a series D round led by Menlo Park, Calif.-based InterWest Partners, a new investor in Cape Clear. The round also includes investments from Accel Partners, ACT Venture Capital and Greylock Partners, all repeat investors. The new funding will be used to support Cape Clear's global expansion and continued growth in the Service Oriented Architecture (SOA) market. Cape Clear offers the world's only true Enterprise Service Bus (ESB), based completely on Web Services and open standards, and designed to leverage existing IT systems. The company's unique approach to SOA continues to draw industry recognition and customer adoption. To support the activity this recognition brings, the new funding will be used for global expansion and extending the technology lead Cape Clear has achieved. In particular, it will enable the company to open new offices throughout the United States, Europe and the Asia Pacific region, in addition to maintaining the ongoing development of its existing locations in Waltham, Mass., Atlanta, San Mateo, Calif., Dublin and London. The lead investment is from InterWest's $600 million ninth fund, known as IW IX, which focuses on early-stage life sciences and information technology companies. The ninth fund was created for information technology investments in the areas of technology enabled services, infrastructure systems and semiconductors and component technologies. As part of the investment, Steve Bowsher, General Partner with InterWest, will join Cape Clear's board of directors. Bowsher concentrates in the enterprise software and Internet sectors and currently sits on the boards of PAR3 Communications and Symphoniq. He also manages InterWest's investment in MarketTools, OutStart and Loancity. Prior to InterWest, Bowsher worked at E*TRADE, managing the company's value-added products and services. write your comments about the article :: © 2006 Computing News :: home page |