Cast Iron raises $8.3M, names Fred Meyer CEO
By siliconindia | Friday, 20 June 2003, 07:00 Hrs
MOUNTAIN VIEW, CA: Cast Iron Systems, a provider of an application integration hardware device, has raised $8.3 million in its first round led by Sequoia Capital and Norwest Venture Partners The company has also named former Tibco chief strategy officer Fred Meyer as president and CEO. The funding has enabled Cast Iron to bring the first release of its application integration technology to the market, and will allow its sales, marketing and development teams to expand. The company claims that its application router is 50-90% less expensive to buy and maintain than solutions developed using alternative approaches. The companys product is used to solve business integration problems. "We saw in Cast Iron many of the same opportunities that existed when we invested in Cisco in 1987. Just as Cisco transformed the networking market with its hardware device, we believe Cast Irons revolutionary Application Router will change the face of the existing application integration market," said Mark Kvamme, Sequoia Capital Partner. Based in Mountain View, California, Cast Iron (formerly IronHide Inc) was founded in 2001 by Nikhyl Singhal, EVP of Products, Samir Mitra, VP of Business Development and George Scott, CTO.