RALEIGH …Â Network management company Oculan has completed a $5 million third-round financing from existing investors, led by Soros Private Equity Partners.
The funding will enable the continued expansion of Oculan’s sales, business development, technical support, and marketing operations as the company builds on the success of its inaugural year. Launched in July 2001, Oculan has already developed a channel of nearly 150 resellers using a channel strategy and appliance-based network management technology that enables organizations of all sizes to more effectively and efficiently manage their networks.
Using Oculan’s technology, an entire network infrastructure can be remotely managed, from desktops to network devices to security in the form of intrusion detection. Customers receive a variety of informative and actionable network reports, plus access to the Oculan network user interface which enables any organization to exert greater control over its network performance and uptime at lower cost.
“We are thrilled to be one of the companies in today’s challenging economic environment to enjoy an upward growth pattern and retain the full confidence of our investors,” Oculan President and Chief Executive Steve Giles said in a statement. “After a fantastic first year out of the box, Oculan is now positioned for a major expansion of sales through new product offerings, alliances and partnerships.”
Oculan’s distinctive business strategy and network management technology have won rave reviews from channel executives nationwide. The company was nominated for 21 of the 25 “best of show” awards at four leading technology trade shows and industry events in the past year and won 13 of those, including Best New Networking Technology, Best New Company and Best Channel Strategy.
“We are firm believers that Oculan is hitting a sweet spot in the network management market and has a very bright future,” said Chris Michalik, an Oculan board member and partner at Soros Private Equity. “Oculan’s solution combines ease of use, affordability and a robust technology at a level that we believe is unsurpassed in the industry. The need for this kind of network management capability is great, and Oculan is certainly poised to be a leader in its field.”
As part of the investment Soros Private Equity Principal Brandon Watson will join Oculan’s board of directors.