Press Release
Israel Seed Partners Leads $3.5m Investment in Startup Ayeca, Novell and Anschutz Participate
November 21, 2000 ¾ Israel Seed Partners (ISP), Novell and the Anschutz Investment Company invested $3.5m in Ayeca, a start-up developing cutting-edge technology for the next generation of mobile applications.
Ayeca Inc., a U.S.-based company with R&D in Israel, is developing middleware that enables cellular operators to centrally manage millions of identities and profiles, which are at the core of the emerging mobile and m-commerce applications market. Ayeca's Mobilidy platform incorporates a unified identity repository that enables cellular providers the unprecedented opportunity to optimize, and capitalize on, subscriber-related services. It further enables the creation of new business models with customers and partners and the secure and managed interoperability between mobile applications.
The recent investment of Novell, one of the biggest software companies in the world, is its second investment in an Israeli startup company. Novells first Israeli investment was in Business Layers at the beginning of this year. For Anschutz, the largest shareholder of U.S.-based Qwest, this was also one of its first Israeli investments. Anschutz also invested in Chromatis, which was sold to Lucent Technologies, and Native Networks, a telecommunications equipment vendor.
"Ayeca understood early the challenges with which cellular providers will be faced in delivering multiple wireless applications," said Alan Feld, a General Partner at ISP. "We believe that there will be a plethora of wireless applications offered to both businesses and consumers. As the number and variety of applications increase, a scalable solution for integrating and managing those applications will become more and more crucial to cellular providers and wireless application developers. We think that Ayeca has the solution".
"The greatest challenge of identity management for cellular operators is providing the most prevailing facilities and service applications on a global scale," said Novell Ventures Vice President Blake Modersitzki. "Ayeca brings a unique platform to the cellular applications world. Ayecas technology will enhance our directory application, setting the standard for identity management for cellular operators."
Doron Rosenblum, president of Ayeca, said, "The fact that Ayeca was invested in by such worldwide leaders in the business development and technology arenas will enable us to stand at the forefront of the new generation of mobile applications. We believe that with Israel Seed Partners business knowledge and capabilities, the international connections Anschutz has in the telecom industry and the unique directory service technologies of Novell, we will be able to fulfill the mission and goals we originally established for ourselves."
About Ayeca
Four leading technology entrepreneurs: Doron Rosenblum, Michael Shalev, Liora Millner, and Kiril Stankov, founded Ayeca in 2000. Doron Rosenblum served as the CIO of "Yediot Aharonoth", the largest media group in Israel. Ayecas R&D center is located in the Afek Industrial Park in Israel and employs 40 engineers. The company is looking to recruit additional staff qualified in the areas of business and software development. Web site: http://www.ayeca.com
About Israel Seed Partners
Israel Seed Partners (ISP) is the leading seed venture capital fund in Israel. Israel Seed Partners is backed by leading corporate and institutional investors worldwide including Horsley Bridge, America Online Inc., IBM, UBS Capital, MIY, AXA, Broadview, Bankers Trust, Invesco Capital, Flag Venture Management, Nomura Securities, The Welcome Trust, Silicon Valley Bank, Wilson Sonsini, as well as leading Silicon Valley entrepreneurs and executives and high net worth individuals. Web site: http://www.israelseed.com
About Novell
Novell is a networking software industry pioneer, which has been providing reliable, high-performance network services since 1983. With the introduction of products such as NetWare® 5.1, NDS eDirectory™, iChain™ and ZENworks™, Novell continues to deliver on its mission of providing services across leading operating systems, within and between organizations. Web site: http://www.novell.com
About Anschutz
The Anschutz Investment Company invests in both early and late stage companies developing products and services that can bring quantum leaps to broad, discernable markets. It has invested in such companies as Israel-based Chromatis, Avici Systems, Juniper Systems and KPNQwest, partner of the Holland Cellular operator KPN. Anschutz Investment is a subsidiary of Anschutz Group, a leading U.S.-based holding company. Web site: http://www.anschutzinvestments.com
For more information: