JackBe Raises $9.5 Million

JackBe Corp., a Chevy Chase, Md.-based provider of enterprise mashup software, has raised $9.5 million in new VC funding. Harbert Venture Partners and Core Capital Partners co-led the round, and were joined by return backers Intel Capital, Darby Technology Ventures and Blue Chip Venture Company.

PRESS RELEASE
JackBe, the leading provider of user-driven enterprise mashup software, today announced that the company has secured $9.5 million in Series C venture capital funding from Harbert Venture Partners and Core Capital Partners, as well as existing investors Intel Capital, Darby Technology Ventures and Blue Chip Venture Company. This investment will accelerate JackBe’s leadership in the enterprise mashup software marketplace through increased sales and marketing operations as well as expanded product development of its Presto platform.

“Our decision to lead this investment in JackBe comes from their strong understanding and leadership of the needs of the enterprise mashup user,” said Tom Roberts, partner at Harbert Venture Partners. “Organizations invested in service-oriented architecture continue to search for a return on their investment and JackBe has created a solution that empowers users to leverage these SOA assets directly, increasing their productivity levels and building competitive advantage for their enterprise.”

“JackBe is leading the charge into the enterprise through its mashup software. Mashups can greatly enhance productivity and return-on-assets. JackBe’s Presto platform provides the required scalability, reliability and governance needed by today’s complex global businesses,” said Pascal Luck, managing director at Core Capital Partners.

“Over the past four years, our experiences with large enterprises led to the realization that the value derived from Web 2.0 for enterprises should go far beyond the ‘widget’ enhancements of user interfaces,” said JackBe CEO Luis Derechin. “The real and sustaining business value involves delivering a solution that enables IT as well as business users to assemble and integrate complex information sources in real-time while still meeting the requirements for security, reliability and governance that are common in an enterprise.”

JackBe continues to build market momentum by increasing customer acquisitions globally in financial, government and information services as well as by completing market-changing agreements with leading partners in the enterprise Web 2.0 market.

“Enterprises are beginning to advance mashups from a cool Web hobby to enterprise-class systems to augment their model for delivering and managing applications. We expect growth in mashup technology interest, experimentation, investment and implementation to continue accelerating for at least the next five years,” said Anthony Bradley, research director at Gartner in a report titled “‘Mashups and their relevance to the enterprise,” published in September 2007.

“We made a decision for a JackBe Presto implementation because it uniquely met our requirements for true user driven integration between our applications. We are providing empowerment to our business users while still meeting our company standards,” said Brian Wilson, principal architect, Thomson Scientific.

The Presto family of products enables end users to experience self-service data access, situational integration and enterprise-grade mashups all within the browser to make more effective decisions and independently complete daily tasks. JackBe is currently offering a trial download of Presto at http://www.jackbe.com .

About Harbert Management Corporation

Harbert Venture Partners, with offices in Richmond, VA and Birmingham, AL, provides growth capital to early stage technology and healthcare companies in the Mid-Atlantic and Southeastern U.S. Our team combines substantial investment, advisory and operating experience with capital to assist entrepreneurs in successfully executing their growth plans. Harbert Venture Partners is an affiliate of Harbert Management Corp., a privately owned investment manager focusing on alternative asset classes. Harbert has twenty-one funds under management, representing $15.7 billion in assets (as of September 1, 2007) under management.

About Core Capital Partners

In business since 1999, Core Capital ( www.core-capital.com ) is a Washington, DC-based venture fund with over $350 million under management. The firm invests in a wide range of technologies with a particular focus on telecommunications hardware and software, wireless applications, enterprise software, network security, e-commerce, logistics and tracking, energy and power management in addition to web and communications services. Sample portfolio companies include Sourcefire, NexTone Communications, InPhonic, buySAFE, Roundbox, Trust Digital, Infinite Power Solutions, SwapDrive and IXI. To learn more, please email us at info@core-capital.com.

About JackBe

JackBe leads the Enterprise Web 2.0 revolution with innovative enterprise mashup software that delivers on the promise of business user empowerment. JackBe has created Presto, a family of products for enterprise mashup solutions that combines SOA and Ajax into enterprise mashups and rich Internet applications. Presto can deliver any data from any application to any user while meeting the toughest security and governance requirements. For more information, visit www.jackbe.com .