NASHVILLE, Tenn., Jan. 11, 2006 – Cybera Inc. today announced the closing of a $12.8 million equity round of financing led by Adams Street Partners of Chicago. Also participating in the closing were Chrysalis Ventures of Louisville, Claritas Capital LLC of Nashville and several prior Cybera investors.
Cybera delivers next generation broadband wide area network solutions to multi-location businesses across the United States.
“Adams Street Partners chose to invest in Cybera because the company has a proven track record of success and has set new standards for secure, affordable broadband networking solutions,” said George Spencer, a partner with Adams Street Partners. “We expect this funding to accelerate Cybera’s growth through deeper penetration of their target markets with a broader product portfolio.”
Cybera targets retail, restaurant, convenience store and financial services organizations that need an advanced network to implement enterprise applications.
“Chrysalis sees strong growth opportunity because of the strength of Cybera’s management team and the growing demand for private broadband networks,” said Wright Steenrod, a principal with Chrysalis Ventures.
Cybera plans to use the new funding to expand sales and marketing efforts, add new network facilities and product features and restructure some existing debt and equity.
“We are excited to have new capital that will allow Cybera to bring more service features to a broader range of customers,” said Cliff Duffey, Cybera’s chairman, chief executive officer and president.
Founded in February 2001 and based in Nashville, Tenn., Cybera Inc. delivers high-speed, private networking solutions for business needs. By integrating leading edge technology components, Cybera is able to provide the best coverage and maximum bandwidth for all of a client’s unique business requirements by combining ADSL, SDSL, T1, Frame Relay and Ethernet connectivity into a customized, private network that never travels the public Internet. This unique network infrastructure allows Cybera to offer the highest guarantees on security, reliability and performance in the industry.
About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments in the world and has one of the longest histories. Together with its predecessor organizations, Adams Street Partners has been managing direct investments in private equity since 1972 and has been investing in private equity partnerships since 1979. The Firm currently has 80 employees and $12 billion of assets under management. Adams Street Partners has offices in Chicago, Palo Alto and London with offices opening in Singapore in 2006.
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Ky. Chrysalis has more than $200 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com.