Dublin, Ireland - 18th October, 2005 - PolarLake, a world leader in application integration based on the Enterprise Service Bus (ESB), today announced that it has closed a funding round of over $US 7 million to support further international expansion. Atlantic Bridge Ventures led the round, in which PolarLakeâs existing investors, Add Partners and Delta Partners, also participated.
PolarLake provides a complete suite of integration products for the automation of complex business processes across organizational and technical boundaries. The company will use this new funding to drive continued expansion of its sales and marketing activities in Europe, the US and Asia in order to capitalize on growing demand within large financial services and government organizations. The aim is to consolidate the PolarLake Integration Suiteâs world leading position as the only viable alternative to complex and costly traditional Enterprise Application Integration (EAI) solutions.
"We are delighted to welcome Atlantic Bridge as an investor," said Ronan Bradley, CEO, PolarLake. "The Atlantic Bridge teamâs outstanding operational experience and extensive network will be a real asset to PolarLake as we build the business."
"Our Integration Suite is already delivering value in dozens of large-scale line-of-business applications, deployed by leading organizations that see PolarLake as a long-term strategic integration partner," added Bradley. "Flexible, productive and standards-based, PolarLake offers a real alternative to proprietary, costly and complex EAI products, whilst addressing complex, real-world integration challenges in a way that more lightweight ESB products are unable to do."
"We have been consistently impressed by the high levels of satisfaction reported by PolarLakeâs customers, based on the ease of deployment and rapid return on investment those customers are already experiencing," said Kevin Dillon, Partner, Atlantic Bridge Ventures. "PolarLake maintains a strong focus on answering the needs of leading financial services and government organizations, and this is reflected in the quality of the customer base."
"PolarLake is very well positioned to build on previous successes and emerge as a market leader in the integration space," said Niko von Huetz, Investment Director, Add Partners. "They have an exceptional core technology and a strong growth potential within the rapidly expanding ESB and SOA markets."
"Delta Partners was one of the founder investors in PolarLake in 2002, and the company has made tremendous commercial progress since then." said Maurice Roche, General Partner, Delta Partners. "This additional funding will allow the company to accelerate its sales and marketing activities and achieve significant value over the next few years."