HERNDON, Va.–(BUSINESS WIRE)–July 24, 2003–Ikimbo, Inc., the leader in real time communications for the enterprise, closed a round of financing totaling $2.0 million. The round was lead by CrossAtlantic Capital Partners from the Cross Atlantic Technology Fund, L.P. a $120 million venture fund focused on investments in information technology companies in the United States, Ireland, andEngland, and The Co-Investment 2000 Fund, L.P.
Ikimbo plans to use the capital to expand sales and marketing efforts for ikimbo AGENDA, which enables organizations to improve the quality and timeliness in responding to and resolving time-critical events. Ikimbo AGENDA enhances instant messaging platforms such as Sametime, AIM, and Jabber to better suit the real-time data sharing and audit trail needs of corporate users.
Ikimbo also announced today that Glen Hellman has been appointed President and Chief Executive Officer of the company; he also has become Executive Vice-Chairman of the Board. Hellman will oversee all aspects of sales, strategic planning initiatives, corporate vision, venture capital and finance, external relations and partnerships. Hellman takes over the President/CEO roles from, Todd Bramblett, who is leaving to pursue other interests.
“We are very pleased with the level of confidence and commitment our investors have shown in the company by supporting us in this round of funding,” said Glen Hellman, Ikimbo’s CEO. “Given the current economic climate, our investors’ enthusiasm speaks volumes for the visionary product Ikimbo has developed and for our demonstrated market acceptance.”
Mr. Hellman has an extensive background in both the telecommunications and software development industries. He was most recently President and Chief Operating Officer of Astracon Corporation, a developer of Operational Support Systems for network service providers. Prior to Astracon he was VP and General Manager at 3Com. Over his 20 year career, Hellman has served in executive positions at several software technology companies, including: Call Technologies, Progress Software, TELIC and Raytheon Data Systems.
“We are excited about the progress of the company and strongly believe in the product and the management team’s ability to execute,” said Glenn Rieger, President of Cross Atlantic Capital Partners.”
About Ikimbo
Ikimbo is a leader in real time communications for the enterprise. Ikimbo solutions use instant messaging and presence detection for secure, accelerated communication that improves operational performance and enhances corporate agility, responsiveness, and collaboration. Ikimbo works with any instant messaging platform and supports a variety of communication devices: computer, cell phone, and PDA. In addition to anywhere, anytime people-to-people and machine-to-people communication, Ikimbo solutions offer people-to-machine communications, making it possible to collaborate, resolve problems, and update systems in real-time.
Ikimbo has strong financial backing from many prestigious venture capitalists. The Company’s investors are Cross Atlantic Capital Partners, Exelon Capital Partners, William Blair New World Ventures, Draper Atlantic, MRW Capital, Ptek, Riggs Capital Partners, and Steve Walker & Associates.
Ikimbo was founded in 1999 and is headquartered in Herndon, Virginia.
