| Andromedia, Inc. announces the closing of its initial seed round of financing including SOFTBANK, Draper Richards, LP and MSIS. |
| Walnut Creek, Ca - Andromedia, Inc.,
today announced that it closed its initial round of equity financing. The
equity, issued as a Series A Preferred stock, totaled $950K and will be
used to increase the development and marketing investment at the company.
The equity was issued at a post-money valuation of $6 million and included
investments from SOFTBANK, the Japanese software, distribution, promotion
and publishing company, Draper Richards, LP, headed by William Draper III,
the founder of Sutter Hill Ventures and MSIS, a diversified investment
company in San Jose California.
Andromedia, Inc., formed in December 1995, builds software for recording, managing and reporting on website activity. Clients such as website administrators and corporate marketing departments can obtain critical usage data through Andromedia's analysis and reporting application. For example, users can generate detailed graphical reports on the activity of a particular website, web page, content element, advertising banner, user profile, visit profile as well as on other specific web data. In addition, applications such as advertising management or content management systems can access this data in real time through Andromedia's API, enabling dynamic, state based functionality in these applications. These applications will be able to generate custom pages or rotate advertising banners based on the state of the website, user or visit at a specific moment in time. The target market for Andromedia's products are the 150,000 plus websites currently in operation. This number is expected to reach 400,000 by early 1997. "No significant website should be without a mechanism for capturing critical usage information.," said Gary Rieschel, Senior VP of SOFTBANK Holdings in the US. "This information is vital to website administrators, marketing organizations, advertisers, content providers, dynamic web applications and anyone whose livelihood is linked to a website." As a result of the Worldwide Webs' adoption of the HTTP protocol as the standard for communication, the Web is essentially a stateless network. While this is an optimal structure for network efficiency it creates a serious problem for users and applications that depend on being able to capture the state of the network to perform their functions properly. "Andromedia has built an architecture with the performance and scalability to capture the necessary state of a website, user or visit, and deliver this state through an API to the applications and users counting on it" said Larry Matheny, President/CEO of MSIS. "In addition, they can do this without impacting the performance of the network" Matheny added. Andromedia, Inc., founded in December of 1995 is building software for capturing the state condition of a website, a user of a website, or a visit trail on a website in millisecond intervals. This information is stored first in high speed RAM for immediate access by applications depending on it, and then finally on disk for persistent access to support time series analysis and reporting. Andromedia expects to ship product to its Beta customers in Q2 1996 and the production release in Q3 1996. Contact:
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