9/20/2004 - Jaluna SA, an embedded software virtualization company, announced that it has closed a $12 million Series A funding round. Atlas Venture and Index Ventures co-lead the round with the participation of Cisco Systems, Inc. Alexander Bruehl, senior partner of Atlas Venture, and Giuseppe Zocco, general partner at Index Ventures have joined the company's Board of Directors. The funding will be used to finance the international expansion of the company.
The company was founded in mid 2002 by the Sun Microsystems Chorus team members, who have a wealth of experience in developing, marketing and deploying innovative real-time and high availability operating system solutions. In response to the increasing demand for Linux in embedded systems, Jaluna solutions save development costs and reduce time-to-market for equipment manufacturers that need to re-use their existing applications with Linux. In addition, Jaluna logical partitioning and virtualization technology provides OEMs, ODMs, and integrators with the ability to mix and match operating systems - all this without introducing additional boards or dedicated processors. This reduces complexity and shortens the bill of materials for their products thus providing a definitive competitive advantage. According to Venture Development Corp., an independent market research firm specializing in embedded and real-time technologies, the market for embedded software will reach over $2.5Bn (15% annual growth) by 2007. By 2007, VDC also estimate the market for embedded operating systems will reach over $1 billion with Linux expected to capture 30% of this market in the coming years.
"Jaluna has assembled an unparalleled engineering and management team with a proven track record of bringing leading system software products to market," said Alexander Bruehl, senior partner of Atlas Venture. "The company has already demonstrated platform virtualization solutions that are attracting strong customer interest for network infrastructure products, wireless devices, IP-set-top boxes and other customer premises equipment."
"Jaluna brings the benefits of virtualization to the embedded systems market," said Giuseppe Zocco, general partner at Index Ventures. "Supporting multiple operating environments on the same hardware platform will allow OEMs to introduce new products faster, more cost effectively and with increased security."
Jaluna Chief Executive Officer Michel Gien added "We are very fortunate to have the support of such an experienced syndicate of investors. The company has had great success with several early adopters and is now gearing up to service and support the industry in its migration to Linux. The Series A investment will enable us to develop our marketing and sales capabilities worldwide and thus reach more customers, enabling them to deliver products to market ahead of their competition."
Jaluna develops and markets value-added software components and solutions that allow multiple application environments, including the operating system to co-exist and interoperate on the same hardware. This brings legacy application migration, real-time, availability and security to Linux-based network equipment and appliances. Founded by Sun Microsystems Chorus team members, with a wealth of experience in developing and deploying real-time and high availability solutions, Jaluna paves the way for the development of current and next generation network infrastructure and connected devices. www.jaluna.com
About Atlas Venture
Atlas Venture is the leading international early-stage venture capital firm, investing in communications, information technology and life sciences companies. Atlas Venture has investing offices in Boston, London, Munich and Paris, and its investments are evenly divided between the United States and Europe. Founded in 1980, Atlas Venture has organized six international funds, and currently manages more than $2.1 billion in committed capital. The Atlas Venture investment team is comprised of seasoned operating executives and career venture capitalists that have been deeply involved in the formation and development of more than 300 companies worldwide. www.atlasventure.com
About Index Ventures
Index Ventures is a venture capital fund dedicated to helping top entrepreneurial teams build their companies into global leaders. Index proactively seeks out opportunities to invest in companies with products and services that drive the transformation of their industries. Index's company building approach allows each portfolio entrepreneur to leverage the combined experience, networks and resources of the entire partnership. Managing $500 million in capital, the Index team has been active in technology investment since 1992. Investors in Index funds include major European and US institutions as well as Cisco, Oracle, Sun and AOL. The firm has offices in Geneva and London and focuses its activity primarily on Europe and Israel. Representative Index investments in the technology arena include European companies such as Betfair, MySQL, Skype, Video Island, Globespan Virata (acquired by Conexant) and Ciao. www.indexventures.com
Jaluna, the Jaluna Logo, OSware, and C5 are registered trademarks or trademarks of Jaluna SA. Linux is a registered trademark of Linus Torvalds. Chorus is a registered trademark of Sun Microsystems.
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