FOR IMMEDIATE RELEASE
New Round of Venture Funding Spurs Growth for Synchrologic Inc.
Atlanta, GA (September 1, 1998) - Synchrologic, Inc. today announced that it has received $6.5 million in new venture funding. This round of funding was led by Grotech Capital Group, a Maryland-based firm with over $400 million under management, and included reinvestments from all current Synchrologic investors, Alliance Technology Ventures, Noro-Moseley Partners, Imlay Investments, Gray Ventures, and Said Mohammadioun, as well as a new investment from Boston University. This investment will be used to fund the expansion of the company's sales and distribution channels as well as to further development for its products. Patrick Kerins, Managing Director of Grotech Capital Group, joins the Synchrologic Board of Directors.
Synchrologic develops data synchronization / replication software used by developers of occasionally-connected mobile applications. Benefits include heterogeneous database support (Oracle, Microsoft SQL Server, IBM DB2, Informix, SQL Anywhere, Microsoft Access), communications costs savings, scalability and backend administration suite. Sold to both corporate and OEM customers, SyncKit™ is typically used in sales force automation, field service, home healthcare, and remote retail applications.
"Our current investors have reconfirmed their support for us. As we enter a different cycle of Synchrologic's growth, expanding our investors to include Grotech and Boston University is an important step for us," said Said Mohammadioun, Synchrologic's CEO. "The City of Atlanta is also well served by attracting such significant technology investors."
"A large part of our business is tracking and investing in information technology companies," says Patrick Kerins, Managing Director at Grotech and the firm's principal technology investor. "Synchrologic's technology, its management team, and its success in the marketplace attracted our attention. We are excited to become a part of the growth and success of Synchrologic."
About Synchrologic, Inc.
Founded in 1995 and based in Atlanta, Synchrologic builds software that enables application developers to support remote sites and mobile workers. The company's focus is on providing components that easily plug into and handle all data synchronization needs within existing or new client/server applications. Synchrologic has assembled an accomplished management team of top-level executives from corporations such as Lotus, Oracle, Informix, XcelleNet and Sales Technologies. The company's development team has over 75 years experience in building synchronization solutions. For more information on contact Synchrologic at 200 North Point Center East, Suite 600, Alpharetta, GA 30022. 770/754 5600 (voice), 770/619-5612 (fax), (email). On the web, visit the company at http://www.synchrologic.com
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SyncKit is a trademark of Synchrologic, Inc. All other trademarks are the property of their respective owners.
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