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2004 2003200220012000 |
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Geobot Moves Forward with Series
A funding Memphis, TN (July 11, 2001) -- Geobot Inc., a pioneer in the development of configurable messaging software, today announced that it received $2.2 million in Series A funding led by Memphis-based Delta Capital Management, LLC. Delta Capital targets early stage investment opportunities in Information Technology, Healthcare, and Telecommunications. In addition to Delta Capital, Jim Keegan of Adams Keegan and other private investors also participated in the round. The proceeds from the round will be used for product enhancements and increased sales and marketing activity. "Given the difficult market conditions, businesses are being rigorously challenged to prove their value before receiving funding. We feel we have," says Tony Fletcher, Geobot’s CEO. "This round of financing will allow us to continue to build upon our strengths and generate the momentum necessary to take us to the next level." According to Delta Capital, it was Geobot’s management team that first sparked their interest. "Initially, we were interested in pursuing an investment with them because of their management team," explains David Latham, a Principal of Delta Capital and new board member. "As we learned more about their technology and the applications for it in multiple markets, coupled with their ability to execute, we were convinced that this was an excellent opportunity." Geobot has been self-funded to date with initial product deployment to the financial services industry. "I am excited about the opportunity to work with a company who believed enough in their technology and their product to have invested a substantial amount of their own capital to prove the viability of their offering," added Jim Keegan. As a result of the investment, Delta Capital will be taking a board seat along with Jim Keegan, current Chairman of the Board for Adams Keegan, and co-founder of Morgan Keegan & Company, where he served as the President and COO until his retirement in 1985. Mr. Keegan has also served as Chairman of the Board of Governors of the National Association of Securities Dealers (NASD) and as Chairman of the Board of Directors of NASDAQ. About Geobot, Inc. Geobot is a pioneer in the development of dynamically configurable messaging software. Geobot’s InfoSwitch technology provides a single framework for allowing multiple disparate systems and applications to share information in real-time with the ability to extend network functionality through the use of run-time pluggable logic. Founded in February 1999, Geobot is headquartered in Memphis, Tennessee, and is privately held. Geobot’s leadership team combines a strong background in data routing, software development, and technology management from companies such as Accenture, Motorola, Texas Instruments, and Nortel Networks. For more information about the company visit www.geobot.com or call 901.681.0161. Contact: Darren Raybourn Geobot, Inc. 901-312-7761 draybourn@geobot.com David Latham Delta Capital Management LLC 901-755-0949 yearwood@deltacapital.com |
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