Cast Iron raises $8.3M, names Fred Meyer CEO

By siliconindia   |   Friday, 20 June 2003, 07:00 Hrs
Printer Print Email Email
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 company’s 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 Iron’s 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.

SPOTLIGHT
Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..
IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..