Kace Expands Board of Directors and Secures Additional Funding
Sigma Partners and Pete Solvik, Former Cisco CIO, Back KACE
MOUNTAIN VIEW, Calif. - July 25, 2005 - KACE, creator of a family of turnkey IT automation appliances, today announced that it has added Pete Solvik, former senior vice president and CIO of Cisco Systems, to its Board of Directors and secured an additional $3 million in funding. Top venture capital firm, Sigma Partners (over $1 billion under management), led the financing round with additional participation and support from private investors. The new investment will support the company's efforts to meet the growing demand and launch of innovative new products in the field of IT automation.
KACE is led by CEO, Rob Meinhardt, former vice president of marketing at mobile computing pioneer, AvantGo, Inc., now a Sybase subsidiary. In addition to Meinhardt, KACE's Board of Directors includes KACE founder Marty Kacin and Pete Solvik of Sigma Partners. Prior to founding KACE and joining the board, Kacin co-founded and served as CTO at AvantGo. Solvik served as CIO at Cisco from 1994 -- 2001, was named to CIO Magazine's "CIO 100" four times, and was chosen as one of the "25 most powerful executives in Networking" by Network World.
"We believe that this round of investment reflects an important endorsement of our company and our product strategy--to deliver the highest-quality appliance coupled with superior customer service to ensure the greatest value per IT dollar spent," said Rob Meinhardt, CEO, KACE. "Pete's support coupled with his reputation as one Americas great CIO innovators speaks to the important benefits that KACE is bringing to its customers."
"Businesses now more than ever depend on their IT infrastructure to keep their businesses productive. Yet, IT organizations are faced with fewer financial and human resources to get the job done," said Pete Solvik, managing director, Sigma Partners. "KACE captured my attention with its fresh approach to this problem. They resolve the resource and cost issues with comprehensive yet affordable products that improve an IT organization's ability to efficiently and securely manage their infrastructure."
About Sigma Partners
Sigma Partners, a high technology venture capital firm with over a billion dollars under management, helps entrepreneurs transform ideas into substantial, profitable businesses. Sigma's partners have experience as successful CEOs, entrepreneurs and technologists. Their
deep operating and technical insight helps build teams and strategies that produce sustainable value and successful outcomes. Sigma tends towards early stage investments because of the value that they can bring to the process of building teams, strategies and markets. Some
of the many successful Sigma Partners investments over their 20 year history include Cascade Communications, Clarify, Electronic Arts, GeoTel, Internet Security Systems, Octel, MIPS, Novellus, Verifone, Vignette and Wellfleet.
www.sigmapartners.com
About KACE
KACE is a privately-held technology company focused on developing innovative turnkey software distribution solutions. Its KBOX product line makes IT automation more accessible for more companies through unparalleled ease-of-use, comprehensive solution capabilities and effective pricing. KACE is headquartered in Mountain View, California, and has an office in Denver, Colorado. To learn more about KACE and its product offerings, please visit www.kace.com or call 1-888-522-3638.
Editorial Contact:
Bret Clement
Page One PR
303 462-3057
bret@pageonepr.com

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