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ATLANTA, GA - September 12, 2000 - Indigo Software Group Inc., parent company of Europe's renowned Internet communications developer, Indigo Software, announced today at the Fall Voice On the Net (VON) conference that it has concluded a $4 million financing round led by long established, San Francisco-based, Sofinnova Ventures Inc. and including Belgian investor GIMV.
The resulting trans-Atlantic alliance will reinforce the company's position as a leading provider of turn-key software solutions for the global Internet communications market, a natural expansion of the Internet telephony market.
The investment is to be used to further the company's goal to deliver first-class Session Initiation Protocol (SIP) -based software that gives service providers and operators the power to offer state-of-the-art communications solutions to a generation of customers with Internet savvy.
"Although our European footing is of prime importance, this unique combination of European inspiration and American know-how will allow us to address both markets simultaneously," said Emmanuel Bertrand, President and CEO of Indigo Software Group, Inc. "We are delighted that Sofinnova has committed itself to our technology and the structure we now have in place will enable us to show its full potential."
"We at Sofinnova Ventures have the misssion to find and finance cutting edge, new technologies. We see the SIP protocol as the next wave that will bring much more functionalities to end user devices through Internet service providers and therefore we are very excited to lead this first round of funding," said Alain Azan, Managing Director of the San Francisco-based venture firm.
Indigo's flexible and expandable software framework allows early and gradual introduction of solutions onto today's converged networks market, providing Internet-genuineTM solutions to market-attentive telecom operators and cable operators, as well as to forward-looking Internet Service Providers (ISPs) and communications Application Service Providers (ASPs).
About Indigo Software
Indigo Software is blazing the trail in absolute Internet communicationsTM by marrying the power of SIP with the unlimited possibilities of Java. Designing and delivering communications software truly tailored to the Internet, Indigo offers unprecedented solutions to the exploding Service Providers market. Indigo products radically transform the end user experience of integrated communications.
http://www.indigosw.com
About Sofinnova Ventures, Inc.
Sofinnova Ventures represents 25 years of US venture investing and has cummulatively raised and invested more than $330 million through its US-based activities. The company invests venture capital in early-stage Internet, telecommunications and life-sciences startup companies. Because of its firm ties to Europe's leading finance, technology and venture companies, Sofinnova helps European companies to develop strong presence in the strategic US high tech markets.
http://www.sofinnova.com
About GIMV
One of the largest venture capital firms in Belgium, GIMV invests in a broad range of innovative companies at various stages of their life, from startup through to small-to-medium-sized organizations as well as large companies, making it a valuable long term partner for developing great businesses.
http://www.gimv.com
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