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FOR IMMEDIATE RELEASE
MEDIA CONTACT:
Jeremy Roe
(615) 445-8451
jeremy.roe@cybera.net
Cybera Expands Series C
Offering to $18 Million
NASHVILLE, TN - (April 10, 2007)
– Cybera Inc. today announced the closing of an expansion
of its Series C round of funding to $18 million. The Series C equity
round of financing is led by Adams Street Partners of Chicago. Also
participating in the expansion of the round 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. Target market segments include the restaurant, convenience
store, specialty retail, healthcare, and financial services industries
where advanced networking technology supports enterprise applications.
“We wanted to increase our investment in Cybera because of the leadership
they’ve established in the managed network service industry,”
said George Spencer, Senior Consultant to Adams Street Partners.
“The competitive strength and value proposition of their service
offering, and continued premier client wins have shown that there
is additional opportunity to accelerate revenue and profit growth.”
“Cybera’s talented management team has shown the key
leadership to capitalize on the increasing market demand for managed
solutions,” said Wright
Steenrod, a principal with Chrysalis Ventures. "Cybera
has already built a strong foundation and is now poised to bring
even greater value to its existing and future clients."
Building on its growth in 2006, Cybera plans to use the new funding
to add new service features, and further intensify sales and marketing
efforts to address the growing demand in its target markets.
“This new capital funds Cybera’s next step in our strategic
plan to enhance our managed solutions through new service offerings
and create more customer value through outsourcing,” said
Cliff Duffey, Cybera’s chairman, chief executive officer and
president.
About Cybera (www.cybera.net)
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 (www.adamsstreetpartners.com)
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 (www.chrysalisventures.com)
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 $250 million under management and has made investments in over
50 companies.
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