AdAstra News: Gómez Gains $6.1 Million In New Equity Funding To Support Continued Expansion
Capital infusion to accelerate product development and distribution
initiatives as well as fuel ongoing international expansion plans;
existing backers joined by major German Venture Capital investor, AdAstra
Waltham, MA, October 1, 2003 -- Gómez, Inc.® , the Internet Performance Management
Company, today announced that it has received $6.1 million in new equity funding to
accelerate product development and support channel distribution initiatives as well
as ongoing international expansion plans.
All current investors participated in the financing round, which was led by new
investor AdAstra, a Munich-based independent venture capital firm affiliated with
HypoVereinsbank, Germany's second largest bank. With €100 million under management,
AdAstra targets later-stage high-growth and technology-oriented companies in the
information technology and telecommunications sectors.
Dr. Marc Breitfeld, AdAstra's Investment Director, joins Gómez's Board of Directors,
bringing additional European market and customer insight to the company.
"The market potential for Internet performance management is vibrant and growing
faster than the overall application performance management industry," said AdAstra's
Dr. Breitfeld. "In Gómez, we see a company delivering superior technology in the
Internet performance management space, a company with an excellent track record of
servicing and retaining major customers. Our support will help fund further expansion
of Gómez's international presence while accelerating its highly compelling product
Building On Growth
Gómez has seen its Internet performance management revenues grow for the past eight
consecutive quarters. The business has expanded while Gómez has diversified its
offering and revenue stream into the retail, travel and healthcare verticals,
complementing the company's industry-leading position in financial services. Revenue
growth has also been fueled by Gómez's successful penetration of the European market,
driven by acquisitions earlier this year of WebPerform Ltd. and Actual IT, major players
in the Internet performance management market in the UK.
"This cash infusion, raised at a premium to previous rounds, validates our strategy and
precise execution," noted Dr. Alex Stein, Gómez CEO and President. "Given the investment
community's strong interest in Gómez, the company was highly selective in choosing the
lead investor. AdAstra, with its experience, international focus and talented organization,
became an ideal financial partner."
In addition to AdAstra, Gómez's financial backers include: Deutsche Bank; Dolphin Equity
Partners, L.P.; Doughty Hanson & Co Technology Ventures; and Harbinger/Aurora Ventures.
"Gómez's proven track record in the Internet performance management space, their success
in developing new technologies and the recent European expansion have validated our
continued support of the company and enabled the company to attract a valuable new
strategic investor," noted Richard Brekka, President of Dolphin Equity Partners,
Gómez's long-time lead investor.
Gómez, the Internet Performance Management Company, is a trusted leader in measuring
effectiveness of corporate and e-commerce Web sites for the world's largest companies.
Since 1997, Gómez has provided performance measurement, benchmarking and strategic insight
to help build successful e-businesses. From the industry's strongest, most respected
heritage of Internet performance measurement, Gómez - via the Gómez Performance Network -
is the only company to monitor across last-mile connections, delivering faster, actionable
intelligence through its proprietary service.
Headquartered in Waltham, Mass., with operations in London, Gómez has experienced double-digit
sales growth in the past year. Known for its customer benchmarks on usability, functionality and
reliability, companies such as Bristol Myers-Squibb, BBC, Citibank, Barclays Bank, Eastman
Kodak, Audi, Motorola, Hasbro and expedia.com, trust their Internet performance to Gómez.
For more information, visit www.gomez.com.
Gómez, Gómez.com, GómezPro, Gómez Scorecards, Gómez Performance Network and Internet Quality
Measurement are trademarks and/or service marks of Gómez, Inc. All other trademarks are the
property of their respective owners.
AdAstra is a Munich-based
independent venture capital firm with € 100m under management.
Founded in June 2000, AdAstra is targeting later stage high-growth and technology-oriented
companies in IT, telecommunication and high-tech industries. As a sparring partner to its
portfolio companies, AdAstra provides permanent support through its experienced and inter-
disciplinary management team as well as the vast contact network of its lead investor
HypoVereinsbank, Germany's second largest bank. Investments include SuSE Linux, ASK S.A.,
Trados Inc., Gómez Inc., Baeurer, Asknet, Asyntis, web2CAD.
About Deutsche Bank
With roughly € 851 billion in assets and approximately 69,300 employees, Deutsche Bank offers
its 13 million clients unparalleled financial services in 76 countries throughout the world.
Deutsche Bank competes to be the leading global provider of financial solutions for demanding
clients creating exceptional value for its shareholders and people.
Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction
banking, asset management, and private wealth management, and has a significant private &
business banking franchise in Germany and other selected countries in Continental Europe.
About Dolphin Equity Partners
Dolphin Equity Partners, L.P.
specializes in investments in emerging communications and related
information technology companies operating in the U.S. and abroad. Located in New York, Dolphin
currently manages over $340 million in capital. Dolphin seeks to obtain significant equity
positions in expansion stage companies with the potential for substantial growth in communications
technologies, software and services.
About Doughty Hanson & Co
Doughty Hanson & Co
is one of Europe's largest independent private equity fund managers, with
funds focused on private equity, European real estate and technology ventures. Headquartered in
London, the firm has offices throughout Europe as well as in the United States. Doughty Hanson
Technology Ventures provides early-stage venture capital financing to technology companies
throughout Europe, focusing on software, communications technologies and semiconductors.
About Harbinger/Aurora Ventures, LLC
Research Triangle Park, NC, is a venture capital fund that invests
in early-stage life science and information technology companies based primarily in the
Southeastern and Mid-Atlantic United States.