Dante Group Raises $4 Million in Venture Capital
First Institutional Round Led by Mobius Venture Capital, Sequel Partners, and Vista Ventures
(303) 291-0522 x207
BOULDER, Colo. April 09, 2003
The Dante Group Inc., a Colorado-based provider of enterprise software for business process monitoring solutions, today announced the closing of its first institutional round of investment led by Mobius Venture Capital, Sequel Partners, and Vista Ventures - all Colorado-based venture capital firms. As part of this deal, Brad Feld, Kirk Holland, and Rick Patch will be joining Dante's board of directors.
In an era of slowed IT spending, Mobius Venture Capital, Sequel Partners, and Vista Ventures are backing Dante because of the company's demonstrated success in developing technologies for a market (Business Activity Monitoring) the Gartner Group estimates will grow from $115 million in 2001 to $2.6 billion by 2005.
"We are investing exclusively in the best early-stage technology companies that address one of two enterprise markets," said Bradley Feld of Mobius Venture Capital. "Dante's unique technology fits into our sweet spot and is already proven in the field."
"What impressed Sequel most was the enthusiasm of Dante's partners and customers," said Rick Patch of Sequel Partners. "Based upon customer references and our experience with this type of technology, we believe Dante is well equipped to capitalize on a rapidly emerging management and technology philosophy: monitoring the health of the real time enterprise."
"Dante's proprietary technology originally attracted us, but Dante's commitment to winning is what closed this deal," said Kirk Holland of Vista Ventures. "Their determination and proven ability to win in this environment sets Dante apart as a must-have company in our portfolio."
"Our strategy all along has been to focus on identifying the key issues faced by customers in our target market segments and then creating great technology that solves these business problems," said Pat Maley, CEO of Dante. "With a complement of great local partners, customers, and elite investors, we can now expand our efforts to attract a national customer and partner base."