Welcome!

Weblogic Authors: Yeshim Deniz, Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

Related Topics: Machine Learning , Laszlo.sys-con.com

Machine Learning : Article

Laszlo Systems Secures $8 Million in Series C Funding

WI Harper Group Leads Existing Investors in a Financing Round to Drive Laszlo's Future Growth and Widespread Market Adoption

SAN MATEO, Calif., Sept. 6 /PRNewswire/ -- Laszlo Systems, the original developer of OpenLaszlo, the leading open source platform for building and deploying advanced Ajax applications, today announced the completion of an $8 million Series C round of funding. New investor WI Harper Group led the round, joining existing investors General Catalyst Partners, Sofinnova Ventures, Mitsui & Co. Venture Partners, and other private investors.

Laszlo will use this round of funding to expand its sales and marketing initiatives, accelerate platform and product development efforts, and further strategic partner programs. Laszlo will also continue to build on the market success to date of OpenLaszlo, adopted by tens of thousands of developers and a broad range of institutions and enterprises, including over a dozen members of the Fortune 100's largest corporations.

In addition, Laszlo announced that WI Harper Group's Managing Director, Claude Leglise, has joined Laszlo's board of directors. Leglise combines extensive global venture investing experience with a long track record in technology marketing and operations, gained during his 23-year career at Intel, including several years as Vice President of Intel Capital. At WI Harper, Leglise specializes in capitalizing on cross-border growth opportunities between the U.S. and Greater China.

"Laszlo's success to date is impressive and the company possesses all the crucial elements for continued growth: market readiness, proven adoption, ability to execute and future vision," said Leglise. "We look forward to working with Laszlo's seasoned management to realize the potential of this company and its technology in the rapidly expanding market of rich web applications."

Laszlo's Chairman and CEO, Steve Ciesinski, said, "We're delighted to have WI Harper lead this round of investment, along with the continued support of General Catalyst, Sofinnova and Mitsui. This capital will help to drive further distribution of our platform and technology, and assist us in bringing even more new products to market."

Ciesinski continued, "Having Claude Leglise join our Board also brings great value to Laszlo. He is a respected investor in Silicon Valley with extensive international relationships, and we look forward to the lasting, positive impact he's bound to have on our company."

Availability:

OpenLaszlo is an open source platform for developing web applications that are as feature-rich and robust as desktop applications, without requiring the installation of any new software. Worldwide adoption of the platform spans virtually all market sectors, including enterprise, HR, government, telecom and consumer-related financial services. To learn more about OpenLaszlo, visit http://www.openlaszlo.org/. Training and support for OpenLaszlo, including tutorials on Laszlo's dynamic language, LZX, are available at http://www.laszlosystems.com/.

The WI Harper Group

The WI Harper Group works with entrepreneurs who target growth opportunities in Greater China as a key objective for their businesses. WI Harper pioneered the concept of building a business bridge across the Pacific Ocean for early stage IT and life sciences companies. Through its well- established network of leaders in manufacturing and distribution enterprises, government agencies, and potential customer organizations, the firm helps its companies develop and execute their China strategies. Since 1996, WI Harper has backed over 75 emerging companies in Mainland China, Taiwan and the United States, resulting in 15 IPOs and a number of M&A transactions. Investment professionals in Beijing, San Francisco and Taipei manage over $300M in assets. For more information, visit http://www.wiharper.com/.

About Mitsui & Co. Venture Partners

Mitsui & Co. Venture Partners (MCVP) is a provider of early stage venture capital for various types of U.S. technology firms with special expertise in helping to build their businesses globally. Over the years, they have invested in breakthrough technologies in the communication, software, information series, life science, and medical device industries and accelerated their growth. Located in New York, Silicon Valley, and Tokyo, MCVP currently manages over $250 million in capital. For more information about MCVP, visit http://www.mitsuivp.com/.

About General Catalyst Partners

General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com/.

About Sofinnova Ventures

Sofinnova Ventures is a venture capital firm emphasizing a diversified investment strategy through financing early stage companies in the life science and information technology sectors. Founded in 1974, the San Francisco-based firm currently has $600 million under management. Sofinnova's mission is to create value by providing entrepreneurs with the resources, experience and networks necessary to turn their bright ideas into thriving businesses. With deeply rooted ties to Europe's leading financial, technology and venture institutions, Sofinnova is also uniquely positioned to foster trans-Atlantic synergy and market acceleration. For more information, visit http://www.sofinnova.com/.

About Laszlo Systems

Laszlo Systems is the original developer of OpenLaszlo, the leading open source platform for building and deploying Web 2.0 applications. OpenLaszlo technology has been widely adopted by application and service providers in the consumer, enterprise, education and government markets. Laszlo Systems provides updates, training and support for OpenLaszlo and offers rich- experience web-based digital life applications such as Laszlo Mail, built on OpenLaszlo. For more information about San Mateo, Calif.-based Laszlo Systems, visit http://www.laszlosystems.com/.

Note to editors: Laszlo is a registered trademark of Laszlo Systems, Inc. All other products and brands mentioned are trademarks and/or service marks of their respective owners.

Laszlo Systems, Inc.

CONTACT: Jeanne Achille of The Devon Group, +1-732-224-1000, ext. 11, or
[email protected], for Laszlo Systems; or Helena Kimball of Laszlo Systems,
+1-650-358-2717, or [email protected]

Web site: http://www.laszlosystems.com/
http://www.openlaszlo.org/
http://www.sofinnova.com/
http://www.generalcatalyst.com/
http://www.mitsuivp.com/
http://www.wiharper.com/

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Comments (1) View Comments

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


Most Recent Comments
j j 09/30/06 11:12:33 AM EDT

Laszlo Systems, the original developer of OpenLaszlo, the leading open source platform for building and deploying advanced Ajax applications, today announced the completion of an $8 million Series C round of funding. New investor WI Harper Group led the round, joining existing investors General Catalyst Partners, Sofinnova Ventures, Mitsui & Co. Venture Partners, and other private investors.

IoT & Smart Cities Stories
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
DXWorldEXPO LLC announced today that Big Data Federation to Exhibit at the 22nd International CloudEXPO, colocated with DevOpsSUMMIT and DXWorldEXPO, November 12-13, 2018 in New York City. Big Data Federation, Inc. develops and applies artificial intelligence to predict financial and economic events that matter. The company uncovers patterns and precise drivers of performance and outcomes with the aid of machine-learning algorithms, big data, and fundamental analysis. Their products are deployed...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
All in Mobile is a place where we continually maximize their impact by fostering understanding, empathy, insights, creativity and joy. They believe that a truly useful and desirable mobile app doesn't need the brightest idea or the most advanced technology. A great product begins with understanding people. It's easy to think that customers will love your app, but can you justify it? They make sure your final app is something that users truly want and need. The only way to do this is by ...
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cell networks have the advantage of long-range communications, reaching an estimated 90% of the world. But cell networks such as 2G, 3G and LTE consume lots of power and were designed for connecting people. They are not optimized for low- or battery-powered devices or for IoT applications with infrequently transmitted data. Cell IoT modules that support narrow-band IoT and 4G cell networks will enable cell connectivity, device management, and app enablement for low-power wide-area network IoT. B...
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...