Teneros Raises $40 Million

Teneros, a Mountain View, Calif.-based maker of an application continuity appliance, has raised $40 million in Series D funding. Advanced Equities led the round, which peHUB first reported on last September. Return backers include Goldman Sachs, New Enterprise Associates, Sevin Rosen Funds and STAR Ventures. Teneros has now raised over $77 million since 2004.

 

PRESS RELEASE 

 

Teneros (www.teneros.com) today announced that it has secured $40 million in late-stage funding. The round was led by Advanced Equities, Inc. (AEI), a financial services company that specializes in late-stage technology investments in the United States. This landmark investment in the application continuity space brings the total capital raised, to drive Teneros' leadership position in the market, to $84.5 million. The sector- leading funding support, by an impressive array of blue chip investors including Goldman Sachs, New Enterprise Associates, Sevin Rosen Funds and STAR Ventures, speaks to the undeniable value proposition, innovative proprietary technology, and strong competitive positioning of the Teneros offering.

Single-Vendor Solution Delivers Application Continuity  

“Email system downtime creates major headaches for many companies, directly impacting business operations, revenue generation, customer service, and employee productivity,” said Eric Burgener, senior analyst at The Taneja Group. “The lack of simple, reliable email availability solutions is a deterrent to proactively managing uptime for business critical communication.”

Added Burgener, “Existing solutions for ensuring Microsoft Exchange uptime, the dominant corporate email system, involve the IT staff conducting a multi-vendor science project. However, Teneros offers a comprehensive, single-vendor solution, deployed as a remotely managed appliance that makes it easy for companies to manage Exchange continuity.”

Teneros Application Continuity Appliances assure 24X7 operation of mission-critical applications, fueling corporations worldwide. At present, the company is focused on the leading business application