Friday, April 21, 2006

RED HERRING | Cape Clear Sails off with $15M

"Cape Clear Software secured $15 million in a fourth round of funding Friday led by InterWest Partners, allowing the web services software developer to expand further internationally.

Other firms that were repeat investors in the company joined in the funding, including Accel Partners, ACT Venture Capital, and Greylock Partners.

The company plans to use the extra financing to open more offices throughout the United States, Europe, and the Asia Pacific region. In addition to its headquarters in Waltham, Massachusetts, the company also has offices in Atlanta; San Mateo, California; London; and Dublin, Ireland.

Cape Clear specializes in helping companies develop applications around web services in the service-oriented architecture (SOA) market with technology that it calls an enterprise service bus (ESB). The technology enables companies to tie together their different legacy applications through web-based software."

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