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News >> Technology >>
Infravio secures $6.2 M in Second Round
By siliconindia
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Thursday, 26 June 2003, 19:30 IST
CUPERTINO, CA: Infravio, a provider of Web Services integration and management software, said it has raised $6.2 million in a second round of venture financing from Walden International and Crystal Ventures.
Infravio will use the funding to broaden its product development, sales and marketing efforts. The company intends to provide integration solutions based on Web Services standards. ZapThink, an analyst firm, predicts that the market for Web Services-based integration will reach $6.2 billion by 2006.
"Companies require more efficient solutions for application and data integration, and this need is driving the rapid adoption of Web Services," said Jeff Tonkel, president and CEO of Infravio. "This investment will allow us to provide business-critical solutions based on our innovative technology and Web Services expertise, while accelerating the growth of our customer base."
Srinivas Balasubramanian, Chief Strategist and Mukund Balasubramanian, Chief Technical Officer founded the company in 1999.