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Softbank UK Ventures and Kennet Capital invest $9 million in Volantis

March 28, 2001,
by volcanic

FUNDING FUELS VOLANTIS EXPANSION SOFTBANK UK Ventures and Kennet Capital invest $9 million in Volantis

London, 28 March 2001

Volantis Systems Ltd, a leading provider of solutions for delivering device-aware web applications, has secured venture capital funding of $9 million from SOFTBANK UK Ventures, the technology-focused venture capital fund and Kennet Capital, the early-stage private equity arm of Broadview. David Sola, managing director of SOFTBANK UK, will join the Volantis board as a result of the investment.

Volantis’s core software is an Application Server based “Pervasive Internet platform”, managing user experience by intelligently optimising the presentation and behaviour of web applications, across dozens of different devices including PC, mobile phones and PDAs and interactive television.

Terry Davies, Volantis’s CEO commented: “This second round of investment from SOFTBANK and Kennet will drive an exciting new phase of global expansion planned for Volantis. Our investors’ experience, strategic advice, and international contacts are invaluable in our growth. Our product will allow customers to provide a differentiating advantage through offering content and functionality via alternative web-enabled devices as a means of supporting, servicing and selling to new and existing consumers.”

Since its inception, Volantis has grown to more than 50 employees and received strong interest amongst early customers. In addition, its key strategic partners such as BEA, ATG and IBM have shown the value its Mariner software brings in delivering the Pervasive Internet. The newly launched version 2.0 includes a live update service to Volantis’ device repository that contains analysis of the attributes and form factors of different products, standards and platforms. This live XML-based Internet service enables customers with Mariner-based applications to support the latest devices on the market without waiting for the next major release of the product.

David Sola, managing director of SOFTBANK UK comments: “Volantis’s product allows companies to develop one web site which can then be accessed from anywhere. With the management team’s strong background in enterprise class infrastructure software and the company’s close relationship with strategic ebusiness vendors, Volantis has already proved attractive to key decisions makers.”

David Carratt, managing director at Kennet Capital’s London office says: “The Volantis management team is ideally positioned to develop the huge interest the company has already achieved with numerous blue-chip companies. Volantis’s unique technology will allow their customers to manage the introduction of new devices and channels as soon as they hit the market. The company’s customers are enthusiastic at the prospect of reaching an increased number of web site users without constantly adapting content.”

Volantis, which was formed in 2000, achieved first round funding of approximately $3 million from Kennet Capital in July last year. This second round of funding will be used to expand the organization, develop product enhancements and grow sales and distribution channels.