AJAX Provider JackBe to Fuel Growth with Series B Investment By Blue Chip Venture Company; Funding to Drive Investment in Product Development, Sales and Marketing

BETHESDA, Md.--()--Nov. 17, 2005--JackBe Corporation, a pioneer and leading provider of enterprise AJAX software solutions and professional services, today announced that it has closed on $6.5 million in Series B funding led by new investor Blue Chip Venture Company. The Department of Economic and Business Development of Maryland and JackBe original investors Darby Technology Ventures and Intel Capital also participated in the round. JackBe will use the funding to expand product development, and its sales and marketing efforts.

AJAX is a collection of technologies that allows browser-based applications to achieve the look, feel and interactivity of a desktop application. Using AJAX, organizations can make existing web applications much more user friendly and build new classes of applications for the web. AJAX can also reduce bandwidth and server utilization, thus reducing operating costs for the web services provider. According to Gartner, the web services market is estimated to grow to be a $250 million market by 2009.

"JackBe gives enterprises and government organizations a turnkey solution for dramatically improving end-user experience for their web applications," said Christopher McCleary, the Mid-Atlantic Partner for Blue Chip Venture Company and new Chairman of JackBe. "With more enterprise deployments than any other provider, we look forward to working with JackBe's talented team as they capitalize on this great market opportunity."

Added JackBe customer Forbes.com, "JackBe's technology helps Forbes.com offer users the quickest and easiest means for finding information on our site," said Mike Smith, General Manager of Operations, Forbes.com. "We look forward to additional JackBe AJAX-enabled innovations which will further enhance the user experience."

Innovators like Google have invested heavily in developing custom AJAX solutions for their consumer Web applications. JackBe has built a packaged AJAX development platform and offers lifecycle services such as training, design, implementation and support that make it easy for mainstream enterprises to AJAX-enable their own web applications.

"Over the past three years, we have worked hand-in-hand with many large organizations, helping them realize the potential of AJAX," said Luis Derechin, CEO, JackBe. "This investment will allow us to fast-track additional product development and expand our footprint in the marketplace."

JackBe counts over 30 large enterprises as customers, including Forbes.com, CitiGroup, Sears, and health care giant, McKesson Corporation. These companies all selected JackBe's platform and services instead of expensive internal development projects.

About JackBe Corporation

JackBe is a leading provider of software solutions and lifecycle services that make it easy for enterprises to AJAX-enable their consumer and business to business Web applications. AJAX web technology allows businesses to dramatically improve user experience and reduce costs by delivering desktop-like applications over a standard web browser. Over 30 large enterprises and government organizations have reaped the benefits of AJAX using JackBe's tools and services including major financial institutions, telecommunications providers, retailers and large government organizations. More information about JackBe is available at www.jackbe.com.

About Blue Chip Venture Company

Founded in 1991, Blue Chip Venture Company has over $650 million of capital under management and has invested in over 125 companies throughout the United States and Canada. Headquartered in Cincinnati, with regional offices in Annapolis, New York, and Indianapolis, the firm focuses on early stage enterprise software, healthcare, marketing and media services, and technology infrastructure investment opportunities. More information is available at www.bcvc.com.

Contacts

24-7 Consulting Inc.
Media Contact
Jimme' Peters, 503-289-5354 or 503-816-0500
jimme@24-7consulting.com

Contacts

24-7 Consulting Inc.
Media Contact
Jimme' Peters, 503-289-5354 or 503-816-0500
jimme@24-7consulting.com