|By Business Wire||
|February 15, 2013 08:55 AM EST||
Accelatis, an innovator in Application Performance Management [APM] software, today announced that the company has received $350,000 in new funding from the State of Connecticut’s Small Business Express (EXP) program.
Accelatis provides software that monitors, manages, and optimizes the performance of complex information systems and quickly resolves application performance issues. A combination of grants and loans, the money will be used for development and marketing of the company’s Ascension Suite of APM products for Oracle Hyperion, IBM Cognos, and other enterprise software platforms.
Managed by the state’s Department of Economic and Community Development (DECD), the EXP program provides loans and grants to Connecticut’s small businesses to spur job creation and growth. Assistance focuses on access to capital, through a revolving loan fund, and incentive loans, matching loans, and grants to create jobs.
“As an information technology company, Accelatis represents the sort of high-value, high-growth business that will help Connecticut lead the region’s economic recovery,” said DECD Commissioner Catherine Smith. “Our Small Business Express program has been very successful in encouraging companies like Accelatis to locate and grow here. We look forward to watching the company’s success.”
The EXP support comes in the form of a matching grant and a loan. Proceeds are being used to fund the addition of four jobs in Accelatis’ Connecticut office, in product development, marketing and sales, as well as building-out of the company’s information technology resources required for these new jobs, said President/CEO Jonathan Berry.
“The impact of poorly performing enterprise applications is significant, and can range from user inconvenience to statutory reporting problems,” said Berry. “Companies rely upon Accelatis to help improve system performance and reliability for complicated environments. The support is already helping us to add staff, enhance our product capabilities, and bring our message to the market.”
The time and resources required to manage enterprise applications are immense, and represent a task that is impossible to accomplish without automated tools. Ascension Suite gives customers more insight and better performance while avoiding the all too common frustrations of excessive guesswork, system downtime, and user complaints.
Accelatis’ customer list reads like a who’s-who of global businesses, and includes such companies as Kraft, General Electric, Stanley Black & Decker, Emerson, and Anglo American.
“Obtaining this support from the Small Business Express program is a feather in our cap,” added Berry. “It validates what we are doing, as well as confirming the importance of information technology to the vitality of the regional economy.” Berry anticipates that the support “will help the company to more than double our revenues within one year.”
Small businesses with operations in Connecticut and employing not more than 100 employees are eligible to apply for EXP support. Priority for available funding is given to companies that (1) are creating new jobs and (2) are within Connecticut’s economic base industries, such as precision manufacturing, business services, green and sustainable technology, bioscience, and information technology.
The Department of Economic and Community Development is the state's lead agency responsible for strengthening Connecticut’s competitive position in the new high-tech, knowledge-based global economy. The agency takes a comprehensive approach to economic development that incorporates housing and community development, as well as culture and tourism.
Founded in 2008, Accelatis provides a comprehensive Application Performance Management (APM) software solution to its worldwide client base for their Enterprise Performance Management (EPM) systems. Companies rely upon Accelatis to help improve system performance and stability, streamline troubleshooting and manage migrations through monitoring and benchmarking of Oracle Hyperion and IBM Cognos applications. An Oracle Gold Partner, Accelatis was founded by Hyperion visionaries and developers to rapidly deliver long-term value to EPM clients’ global user base through unprecedented visibility and flexibility to manage their applications. For information visit www.Accelatis.com.
Trademarks: Ascension Suite is a trademark of Accelatis, LLC. All other marks are the property of their respective owners, and are used for identification purposes only.
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