San Jose, CA & London
-- (BUSINESS WIRE) -- March 13, 2001 -- Striva Corporation, a
leader in Database to e-Integration technology, announced that
Leapfrog Ventures, a leading venture fund and strategic
investment channel for PricewaterhouseCoopers (PwC), has made a
substantial equity investment in the company.
Silicon Valley Bank, the United States' premier
provider of financial products and services to emerging
technology and life sciences companies, has also joined this
funding round.
Striva Corporation has developed DETAIL, the
first software infrastructure solution to combine high
performance native database access with a scalable agent-based
technology platform.
This unique architecture addresses the primary
challenge facing established companies as they move into
e-commerce - how to easily integrate years of dissimilar legacy
data and systems with their e-business initiatives.
"We are tremendously excited to have Leapfrog
and Silicon Valley Bank on board as our first external
investors," said David Richmond, chairman and CEO, Striva.
"Leapfrog's close relationship with PwC, coupled with their
unparalleled experience with enterprise software companies,
should help us accelerate our penetration into the Global
2000."
"Striva's product solves a huge problem faced
by major corporations: real-time e-commerce access to legacy
data." said Pete Sinclair, senior partner at Leapfrog Ventures.
"Together with PwC, we hope to rapidly get the word out to
corporations about the significant benefits that DETAIL can
deliver".
"Silicon Valley Bank is interested in well-run
companies which have a clear technological lead in their
market," said Mike Rose, investment manager at Silicon Valley
Bank. "Striva attracted us because of the quality of their
management and the timeliness of their technology".
About Striva
Striva Corporation is a technology company
founded in 1998, with headquarters in Silicon Valley and
London. Striva develops software to solve complex database
integration problems for some of the world's leading software
vendors.
Striva products enable large corporations to
invest in new technology while maintaining the viability of
their existing database infrastructure, delivering more than
100-fold performance improvements over alternatives. Striva
customers include Alcatel, Chase Manhattan, Lockheed Martin,
Nortel Networks, UBS Warburg, and Xerox.
About Leapfrog
Leapfrog Ventures is the only U.S. venture
capital firm in which PricewaterhouseCoopers (PwC) has
invested. Leapfrog's special relationship with PwC gives a
unique advantage in providing entrepreneurs with access to the
key relationships that are vital to an early stage company.
These relationships can be introductions to
senior executives at other technology companies, potential
strategic partners, or potential customers. Leapfrog can also
provide preferred access to PwC's worldwide distribution
channel for software and IT services.
These strategic advantages can provide enormous
leverage to a small company looking to "declare victory" in an
emerging category well before the competition.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and
middle market companies in targeted niches, focusing on
technology and life sciences, while also addressing other
specific industries in which it can provide a higher level of
service and better manage credit through specialization and
focus.
The Bank operates throughout the Silicon
Valley: Santa Clara, Palo Alto and Sand Hill, the center of the
venture capital community in California. The Bank has regional
offices throughout California and in emerging technology
centers across the USA. More information on the Bank can be
found at www.svb.com.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and
middle market companies in targeted niches, focusing on
technology and life sciences, while also addressing other
specific industries in which it can provide a higher level of
service and better manage credit through specialization and
focus.
The Bank operates throughout the Silicon Valley: Santa
Clara, Palo Alto and Sand Hill, the center of the venture
capital community in California. Other regional offices within
California include: Irvine, Los Angeles, Napa Valley, San
Diego, San Francisco, Santa Barbara, and Sonoma. Office
locations outside of California include: Phoenix, Arizona;
Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia;
Chicago, Illinois; Boston, Massachusetts; Minneapolis,
Minnesota; Durham, North Carolina; Portland, Oregon;
Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas;
Northern Virginia; and Seattle, Washington.
SVB Contact:
Andrea McGhee, (408) 654-3078, amcghee@svbank.com.