SAN MATEO, Calif.–(BUSINESS WIRE)–June 23, 2003–
Startup to Simplify the Delivery of Information Applications;
Announces $5.2 Million in Funding
Composite Software, a next stage Enterprise Information Integration (EII) solution provider, today launched the company and announced the appointment of former webMethods CTO and Enterprise Application Integration (EAI) pioneer Jim Green as CEO. The company also announced the closing of a $5.2 million funding round with premier venture backers.
Composite, which began operations in 2002, has developed a technology that addresses the limitations of existing EII solutions. The company’s soon to be announced products allow IT management to leapfrog existing solutions and instantly deliver the right corporate data to the right people at the right time within an organization.
Respected Industry Pioneer Jim Green Joins as CEO
Over the last 20 years, Jim Green has led the development of what have become the standards of enterprise application integration software and Web services technology. While at Sun Microsystems, Green led the team that developed the Common Object Request Broker Architecture (CORBA), which is widely accepted as a standard for complex software integration projects. Following his tenure at Sun, Green served as CEO of Active Software, taking the company from its founding to a publicly-held industry leader in integration software. In 2000, Active was acquired by webMethods for $1.5 billion. Green has served as chief technology officer and executive vice president of webMethods, where he managed the technology strategy and development of the company’s innovative, industry-leading EAI solutions, and continues as webMethods chief scientist.
“To have a leader and visionary of Jim Green’s caliber join Composite is a testament to the strength behind Composite’s approach and understanding of emerging enterprise computing models,” said Jim Gauer, general partner of Palomar Ventures. “His groundbreaking work in software integration and distributed computing, combined with his track record in starting and taking a company to financial success, make him an ideal leader for Composite Software.”
Composite Software was founded by Mike Abbott, who serves as CTO. Prior to founding Composite, Abbott was CTO and EVP of Electron Economy, a supply chain software company named to Upside Magazine’s list of Top 100 companies in 2001. Prior to Electron Economy, as the director of Java Solutions for USWeb/CKS, Abbott led the design and implementation of multimillion-dollar engagements and initiated important strategic alliances with leading technology partners. He has published widely on database and XML topics and participates on a JSR Expert Group at Sun, a technical committee of the OASIS initiative, is the president of the BEA Users Group, and chairs the Web Services SIG for the Software Development Forum.
“When I first met Mike Abbott I knew immediately that Composite Software had tremendous potential,” said Green. “Mike’s a brilliant technologist with a proven track record of leadership in information integration and a vision to drastically transform EII. Our early users are already excited about our products and I’m looking forward to leading the company to a successful product rollout later this year.”
Company Launched
Headquartered in San Mateo, Calif., Composite Software is developing an enterprise product that delivers the right information to the right people at the right time, while embracing the complexity and distributed nature of today’s corporation. The company’s products address the shortcomings of existing EII solutions, from both a technology perspective and by focusing on the core problems found with the delivery of information applications, including performance, breadth of data available, security, and ease of use.
Composite Software also announced that it has raised $5.2 million in funding from leading venture capitalist firms Palomar Ventures, Apax Partners, Clearstone Venture Partners and Dot Edu Ventures. The company is privately held.
About Composite Software
Composite Software is a provider of next stage EII solutions that allow businesses with increasingly diverse data sources to deliver the right information to the right people at the right time. The company provides Composite Views(TM) of critical business information that exists in multiple systems. Enterprises can now pull together re-useable views of customers, orders or risk from databases, Web services, enterprise applications, flat files and directories. These views can then be consumed through dashboards, Excel, portals or reporting tools. Started in 2002 and headquartered in San Mateo, Calif., Composite Software is funded by Palomar Ventures, Apax Partners, Clearstone Venture Partners and Dot Edu Ventures. For more information, please visit the company’s web site at www.compositesw.com.
