Rivulet Communications Raises $11.5 M in Series C Funding
Leaders in Mission-Critical and Real-Time Video Applications over Existing IP Networks to Expand Product and Market Development
HERNDON, Va.--(BUSINESS WIRE)--Rivulet Communications, whose technology enables flawless HD Medical Video on the hospital IP network, today announced the completion of its third private funding round of $11.5 million. The new round included ATA Ventures, Menlo Ventures, Performance Equity Management and Scorpion Capital Partners. The funds will be used to invest in market and sales development activities targeted toward integrators and prospects, and also to deliver a next-generation product line to fuel substantial growth.
“In these tough economic times, the healthcare industry is investing in initiatives to improve efficiency, and Rivulet has unique offerings to serve critical requirements”
"In these tough economic times, the healthcare industry is investing in initiatives to improve efficiency, and Rivulet has unique offerings to serve critical requirements," said Ed Kennedy, CEO of Rivulet Communications. "Working with leading operating room integration firms, Rivulet's market access has expanded dramatically in the past year. Completing our third round of funding will allow us to expand our leadership role in visual networking and storage systems for healthcare."
Rivulet will be rolling out several product announcements and will be at the AORN 56th Annual Congress, March 14 - 19, 2009, McCormick Place West Building, Chicago, Illinois.
About ATA Ventures
With a focus on Information Technologies (IT), the ATA Ventures team makes capital investments in opportunities where the combined backgrounds of the ATA Ventures professionals can provide an extraordinary positive influence on the portfolio company management team. The firm's investment professionals offer an average of over 25 years of related experience (per Managing Director) to support their portfolio companies as they grow. ATA Ventures' $150 million charter fund (ATA Ventures I, L.P.) was created in March of 2004 and targets investments in companies that consist of exceptional people, technology, and plans which appear to offer above-average prospects for capital growth. The formation of the firm's second fund of $196 million (ATA Ventures II, L.P.) was completed in May of 2006 to continue with similar investment philosophies and objectives. Backed by leading foundations, fund of funds, pensions funds, and endowments, the ATA Ventures team has formed a platform to support exciting companies for many years to come. www.ataventures.com
About Menlo Ventures
Menlo Ventures provides long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships, and has organized and managed ten venture funds since its inception in 1976. With over $4 billion under management, and a team with over two hundred years of collective experience in technology, marketing, sales and general management, Menlo Ventures has the resources to support the most ambitious of projects. www.menloventures.com
About Performance Equity Management
Performance Equity Management is a leading global private equity investment firm providing both partnership and direct investment services to its institutional clients. The Firm invests in all types of private equity funds including buyout, venture capital, special situations and mezzanine/distressed partnerships. Performance Equity also invests directly in management buyouts, and in venture and mezzanine/distressed debt opportunities. The firm has over $10 billion of committed capital under management. Performance Equity is managed by a seasoned investment team, with over 100 years of private equity experience. The company has 30 employees and is based in Greenwich, Connecticut. www.peqm.com
About Scorpion Capital Partners
Scorpion Capital Partners is a private equity firm that continues the investment activities of Scorpion Holdings, Inc., which was formed in 1995. The Firm partners with proven management teams to invest in middle market companies that are competitively positioned for strong future performance. Scorpion invests in a wide range of industries, and typically focuses on companies that can benefit from involvement beyond simply providing capital, such as strategic planning and development; mergers, acquisitions and divestures; arranging senior and subordinated financing and other capital markets activities; and access to Scorpion's extensive personal and professional relationships. The partners of Scorpion bring together a combined 40 years of direct private equity investing experience. Scorpion manages approximately $120 million in equity capital. www.scorpioncap.com
About Rivulet Communications
Rivulet Communications offers a complete application based approach to medical video that enables customers to flawlessly transport high-bandwidth, mission-critical and real-time applications over existing IP networks anywhere, anytime. With Rivulet products, organizations can realize the economic benefits of real-time training and collaboration; secure centralized storage; telemedicine applications with off-campus secure access and seamless integration into existing medical systems. For more information, please visit http://www.rivulet.com.