Axia Capital Partners leads growth financing for Network Vision, Inc.
October 7, 2004
For Immediate Release
Waltham, MA., Axia Partners today announced that it has closed a $1.5 million growth capital investment in Network Vision, Inc. (www.intravue.net). Axia Capital Partners invested $900,000 as the lead investor in this round. The remainder of the round was provided by the founding shareholders of the company.
Network Vision develops and markets a unique network management software solution focused on the rapidly growing industrial Ethernet market. Network Vision’s flagship software, IntraVUE™, provides a powerful, network and device visualization and monitoring tool that can be used by plant floor technicians and electricians to provide level 1 network support. The Company is initially targeting the industrial automation market and will expand to other markets in which network availability (including edge devices) is critical and where there is limited networking and IT support resources. These markets include municipal utilities, transportation and traffic systems, Security/Surveillance, hospitals and building control system. Initial customers for the product include General Motors, Daimler Chrysler, Exxon, Bayer, GE, BP Oil, Philip Morris, Crane Paper, City of Cincinnati, Paris Charles De Gaulle Airport, Duke Energy, Akzo Nobel Chemicals, Anheuser Busch, Miller Brewing, NASA, Lockheed Martin, Disney, Conoco Phillips, BASF, Scotts Fertilizer, Gillette, The US Navy, and others.
“As industrial markets transition from proprietary control systems to open, Ethernet based solutions, there is a growing and unmet need for networking monitoring tools that can discover and monitor the network in real-time” stated Jim Pelusi, Managing Director of Axia Partners. “The founders of Network Vision have a long track record of supplying innovative solutions into the industrial controls market and we are excited about partnering with them in this venture”.
“We are pleased to be working with Axia Partners,” commented Mark Fondl, founder and CEO of Network Vision. “Axia’s general partners have a wealth of operating experience in the industrial automation software and controls marketplace, and we believe their active involvement in our company will bring benefits beyond what a typical venture capitalist might provide”.
About Axia Partners
Axia Partners is a private equity investment and advisory firm that is dedicated to increasing the equity value of our portfolio companies and clients through active participation that leverages the operational experience and in-depth market knowledge of our General Partners.
About Network Vision
Network Vision is a company dedicated to providing tools that automate and simplify the task of supporting TCP/IP devices. Headquartered in Newburyport Mass. Network Vision is represented worldwide by partners supporting the Industrial Automation, Intelligent Transportation, and Security/Surveillance markets.
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