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Press Release
FaceTime Communications Attracts $16 Million in Financing; Achieves Record
Performance in Q2
New Investor, JK&B Capital, Joins BA Venture Partners, Sutter Hill Ventures and
TH Lee Putnam Ventures with Investment in Leading Enterprise IM Security and
Management Solutions Provider In Most Successful Quarter To Date
FOSTER CITY, Calif., August 16, 2004 - Furthering its leadership as the premier
provider of solutions that secure, manage, and extend instant messaging (IM)
and P2P, FaceTime Communications today announced the company has received $16
million in venture capital financing. The oversubscribed series was led by new
investor, JK&B Capital, and includes participation from existing investment
partners: BA Venture Partners, Sutter Hill Ventures and TH Lee Putnam Ventures.
This financing round marks a combined total of $30 million invested in the
company since July 2001.
FaceTime Communications is the most widely deployed provider of extensible,
end-to-end IM security and management solutions that address network and
information security, user and policy management, and regulatory and corporate
compliance. The Company will leverage this investment to continue its expansion
and leadership position.
"FaceTime Communications has seen tremendous momentum during the past two
years," said Kailash Ambwani, president and CEO of FaceTime Communications.
"From our customer acquisitions to solid execution and international expansion,
FaceTime continues to attract the support of new and existing investors. Our
latest financing initiative was oversubscribed and completed in a swift
fashion. We believe this is indicative of the growth of this space, and strong
validation of our leadership in the industry."
FaceTime Communications achieved record performance in Q2 2004. The company
signed several new customers including a Fortune 500 insurance company. The
company continued to diversify its customer base by expanding its footprint in
vertical markets such as energy and government. (See related release entitled
"FaceTime Communications Announces Record Performance in Q2" distributed today
on PR Newswire).
"We've had our eye on the IM security and compliance market for some time,"
said Tom Neustaetter, Partner, JK&B Capital. "IM has proliferated and become an
integral part of day-to-day operations in the workplace. This is due, in part,
to FaceTime and its award-winning technology that has always enabled customers
to safely and securely embrace IM in the workplace. We strongly believe that
FaceTime is the best choice in this industry for our investment."
"FaceTime has continually exceeded our expectations with its deliverables,"
said Sharon Wienbar, partner, BA Venture Partners (BAVP) and board member for
FaceTime. "FaceTime's ability to increase its customer base and provide
market-driven, business-critical IM security and management solutions
illustrate its continued growth potential. Our latest investment demonstrates
BAVPs ongoing commitment to FaceTime and confidence in the growth of this
market."
With this news, Tom Neustaetter, Partner at JK&B Capital becomes a member of
the FaceTime Board of Directors. He joins other Board members Kailash Ambwani,
president and CEO, FaceTime Communications; Jim Brown, managing director, TH
Lee Putnam Ventures; Tench Coxe, managing director, Sutter Hill Ventures; Mehdi
Maghsoodnia, founder, FaceTime Communications; Robert D. Thomas, former
president and CEO, NetScreen Technologies; and Sharon Wienbar, director, BA
Venture Partners.
About FaceTime Communications
FaceTime Communications enables the safe and productive use of instant
messaging, Web usage and Unified Communications platforms. Ranked number one by
IDC for four consecutive years, FaceTime's award-winning solutions are used by
more than 900 customers – including nine of the 10 largest U.S. banks – for
security, management and compliance of real-time communications. FaceTime
supports or has strategic partnerships with all leading public and enterprise
IM network providers, including AOL, Google, Microsoft, Yahoo!, Skype, IBM and Jabber.
FaceTime is headquartered in Belmont, California. For more information visit
http://www.facetime.com or call 888-349-FACE.
The FaceForward blog, at http://blog.facetime.com,
offers thoughts and opinions about the changing nature of Internet communications.
PR Contact:
Emily Chamberlin
650-762-2945
echamberlin@ar-edelman.com
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