With platform expansion into the Open Text and IBM FileNet markets, and continued success within the EMC Documentum market, CYA will further accelerate growth by increasing its investments in sales, channel development and marketing to support its enhanced market presence. In addition, initiatives including the rapid development of CYA SmartRecovery™ for new platforms such as Microsoft SharePoint 2007, as well as the adoption of JSR standards, will further broaden the playing field for CYA.
“We continue to support CYA because we strongly believe in the value of its technology and its ability to expand its presence in the ECM market,” said Craig Burson, senior partner at H.I.G. Ventures. “We invest in companies with strong leadership and innovative solutions for large, emerging markets, and CYA Technologies most definitely exceeds those criteria with its pioneering work in discrete ECM information recovery. We are excited about furthering our financial commitment to them.”
“CYA has helped foster technology leadership in the state of Connecticut by developing unique and innovative solutions serving a critical need,” said Peter Longo, deputy director of Connecticut Innovations. “We anticipate that the growth driven by our investment will bring greater awareness to the burgeoning technology sector within our state.”
Since it inception in 1998, CYA has successfully executed against its strategy to establish itself in a market segment that is forecasted by Gartner Dataquest to grow at a rate of approximately 13 percent per year to over $4 billion within the next three years.1 CYA currently serves over half the ECM market, and with Microsoft stating that SharePoint has achieved $800 million in sales to 17,000 customers, CYA’s release of CYA SmartRecovery for SharePoint 2007 will further entrench CYA as the recognized expert in ensuring the integrity and discrete recoverability of ECM system information.
“We are very encouraged by the substantial support that we continue to receive from our investors to expand our overall market opportunity,” said Wayne Crandall, president and CEO of CYA Technologies. “This round of funding will enable CYA to meet the growing demand for ECM system information protection solutions, and we’re pleased that our investors have confidence in our vision and in our ability to address the needs of our growing, worldwide customer base.”
Most organizations occupy themselves with protecting ECM repositories against the 20 percent of data loss incidents that are least likely to occur: massive system failures or full-scale disasters. However, 80 percent of information loss actually comes not from system failures or large-scale disasters, but from partial data loss incidents, which affect discrete or specific pieces of information2. The loss of a even just a single document can have significant business impact, especially for companies regulated by organizations such as the FDA, EPA, or FAA, where the inaccessibility of certain documents can mean that business must be suspended or products must be removed from the market. CYA SmartRecovery prevents organizations from suffering the consequences of partial information loss by:
- Capturing, validating, and preserving ECM content and its related, complex metadata (e.g. annotations, workflows and audit trails) in a single, synchronous pass.
- Ensuring business continuity and operational efficiency by enabling an administrator to restore only the lost or corrupt information back to its original state in the repository in minutes - with no ECM application downtime.
- Empowering organizations to maximize the productivity of their global workforces, as well as meet the need for application-aware information protection driven by increasing financial and legal requirements related to compliance audits, inspections, and e-discovery.
For more information about CYA SmartRecovery, visit the CYA Web site at www.cya.com or call 203.513.3115.
About CYA Technologies
CYA Technologies is the leader in solutions ensuring the integrity, discrete recoverability, and asynchronous replication of information within enterprise content management (ECM) repositories. CYA solutions protect ECM repositories against more than 80% of all information loss incidents, which result from common, everyday occurrences such as programmatic, human, and logical errors, malfeasance, and metadata corruption.* The company’s Intelli-Capture™ technology captures, validates and preserves content and its related, complex metadata in a single, synchronous pass, enabling organizations to recover discrete information in minutes in response to business demands, audits, inspections, or e-discovery requirements. CYA SmartRecovery™ empowers a single administrator to restore only the lost or corrupt information back to its original state in the ECM repository with no ECM application downtime, enabling compliance and ensuring user productivity and operational efficiency. CYA SmartRecovery and other CYA solutions complete traditional enterprise backup and recovery strategies and can be deployed out of the box within three days. CYA protects over one thousand repositories at more than 250 global organizations including DuPont, SwissRe, Standard & Poor’s, Boehringer-Ingelheim, Gruenthal, British Petroleum and the U.S. Army.
About H.I.G. Ventures
H.I.G. Ventures partners with entrepreneurs to provide the capital, expertise and relationships necessary to build market-leading businesses. With over $550 million in dedicated venture and growth capital under management, the firm’s team invests nationally in early to growth-stage information technology, healthcare and service businesses. H.I.G. Ventures is the venture capital affiliate of H.I.G. Capital, a leading private equity investment firm with over $3.5 billion of capital under management. H.I.G. Ventures has offices in Atlanta and Miami. For more information, visit http://www.higventures.com/.
About Connecticut Innovations
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. For more information on CI, please visit www.ctinnovations.com.
1 Gartner Dataquest, Forecast: Enterprise Content Management Software, Worldwide, 2006-2011, Update; Tom Eid; May, 2007
2 Strategic Research Inc. & AIIM International
Senior Marketing Communications Manager
203.513.3111 x 531