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Solstice Software Secures $3.8 Million in Series B Funding March 12, 2003 Leading Investors Fund Behind-the-Screens Testing to Radically Reduce Time, Money Spent on Web Services, EAI, Complex Integration Projects WILMINGTON, DEL - March 12, 2003 - Turning application testing inside out, Solstice Software, Inc. today announced the closing of its Series B round of financing, led by Core Capital Partners and co-funded by Anthem Capital Management. Solstice will apply the $3.8 million funding round to building a sales and marketing organization that advocates automated, early, end-to-end testing of the message-based systems that lurk behind the application GUI and make up the bulk of EAI, Web Services, and other complex software integration projects. Organizations using Solstice Software typically realize a return on investment of 500 to 800 percent driven by time and money savings. " Solstice is not GUI testing," said William Dunbar, managing director of Core Capital Partners. "Solstice is behind-the-screens testing. They handle all the testing and simulation behind the GUI that makes enterprise applications work, testing across any protocol, any environment, and any component, even simulating components that are still under development." Added William Gust, managing partner at Anthem Capital Management, "In the EAI and Web Services space, that's a huge claim that no other vendor can make. Solstice not only makes the claim, they back it up with proven products, ROI and satisfied clients such as MCI, Swisscom, and EDS." Integration projects have introduced a new level of complexity over the past 15 years, and as a result, are difficult to deliver on time and on budget. Most of the work lies behind the screens of the GUI, in the black box of message-based systems that span multiple components, protocols, and environments. Current tool-suites cannot penetrate the message-oriented black box. Consequently, IT departments are suffering from testing problems that they thought were solved a decade ago when the challenges revolved around GUIs alone. Waiting until the end of the project when all the components are in place to test, IT is once again in the position of delivering late, over budget, and defect-laden systems to its customers. Solstice lets development teams peer inside the black box that GUI test vendors ignore. By automating the end-to-end testing of message-based systems and components, Solstice significantly reduces the time and money spent on integration projects. Solstice simulates unavailable components to let teams conduct early, effective tests of all interfaces. The company's extensive protocol library, built over seven years of providing integrated systems deployment to large complex projects, enables automated testing across multiple technologies and environments. Joe Oddo, president and CEO of Solstice Software, stated, "We solve a problem that IT organizations have historically accepted as an unavoidable fact of integration life. By providing thorough, early testing of all components and all environments in a complex integration project, Solstice helps deliver projects on time and on budget. Our message resonates with Core Capital and Anthem Capital, and we are confident it will resonate with companies working on EAI and Web Services, or adding new business processes that span their CRM, ERP, and other enterprise applications." © 2003 Dow Jones & Company, Inc. All rights reserved. |