|[February 15, 2013]
Accelatis Receives Financial Support from State of Connecticut
WILTON, Conn. --(Business Wire)--
an innovator in Application Performance Management [APM (News - Alert)] software, today
announced that the company has received $350,000 in new funding from the
State of Connecticut's Small Business Express (EXP) program.
Accelatis provides software that monitors, manages, and optimizes the
performance of complex information systems and quickly resolves
application performance issues. A combination of grants and loans, the
money will be used for development and marketing of the company's Ascension
Suite of APM products for Oracle
Cognos, and other enterprise software platforms.
Managed by the state's Department of Economic and Community Development
(DECD), the EXP program provides loans and grants to Connecticut's small
businesses to spur job creation and growth. Assistance focuses on access
to capital, through a revolving loan fund, and incentive loans, matching
loans, and grants to create jobs.
"As an information technology company, Accelatis represents the sort of
high-value, high-growth business that will help Connecticut lead the
region's economic recovery," said DECD Commissioner Catherine Smith.
"Our Small Business Express program has been very successful in
encouraging companies like Accelatis to locate and grow hee. We look
forward to watching the company's success."
The EXP support comes in the form of a matching grant and a loan.
Proceeds are being used to fund the addition of four jobs in Accelatis'
Connecticut office, in product development, marketing and sales, as well
as building-out of the company's information technology resources
required for these new jobs, said President/CEO Jonathan Berry.
"The impact of poorly performing enterprise applications is significant,
and can range from user inconvenience to statutory reporting problems,"
said Berry. "Companies rely upon Accelatis to help improve system
performance and reliability for complicated environments. The support is
already helping us to add staff, enhance our product capabilities, and
bring our message to the market."
The time and resources required to manage enterprise applications are
immense, and represent a task that is impossible to accomplish without
automated tools. Ascension
Suite gives customers more insight and better performance while
avoiding the all too common frustrations of excessive guesswork, system
downtime, and user complaints.
list reads like a who's-who of global businesses, and includes such
companies as Kraft, General Electric, Stanley Black & Decker, Emerson (News - Alert),
and Anglo American.
"Obtaining this support from the Small Business Express program is a
feather in our cap," added Berry. "It validates what we are doing, as
well as confirming the importance of information technology to the
vitality of the regional economy." Berry anticipates that the support
"will help the company to more than double our revenues within one year."
Small businesses with operations in Connecticut and employing not more
than 100 employees are eligible to apply for EXP support. Priority for
available funding is given to companies that (1) are creating new jobs
and (2) are within Connecticut's economic base industries, such as
precision manufacturing, business services, green and sustainable
technology, bioscience, and information technology.
The Department of Economic and Community Development is the state's lead
agency responsible for strengthening Connecticut's competitive position
in the new high-tech, knowledge-based global economy. The agency takes a
comprehensive approach to economic development that incorporates housing
and community development, as well as culture and tourism.
Founded in 2008, Accelatis provides a comprehensive Application
Performance Management (APM) software solution to its worldwide client
base for their Enterprise Performance Management (EPM) systems.
Companies rely upon Accelatis to help improve
system performance and stability, streamline troubleshooting and
manage migrations through monitoring and benchmarking of Oracle (News - Alert) Hyperion
and IBM Cognos applications. An Oracle Gold Partner, Accelatis was
founded by Hyperion visionaries and developers to rapidly deliver
long-term value to EPM clients' global user base through unprecedented
visibility and flexibility to manage their applications. For information
Trademarks: Ascension Suite is a trademark of Accelatis, LLC. All other
marks are the property of their respective owners, and are used for
identification purposes only.
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