AnyWare Group Attracts Venture Capital To Fund Expansion
Saint John, NB, Canada, October 24, 2005 — AnyWare Group, a leading provider of secure, clientless access and identity management solutions through it's ROAM service, today announced it has closed a $3.7 million Series B round of venture capital financing.
AnyWare Group's venture capital partners include GrowthWorks Atlantic Venture Fund and GrowthWorks Canadian Fund, the Business Development Bank of Canada (BDC) and Worker's Investment Fund (WIF).
“We are very pleased with the market acceptance of our new ROAM product, and with capital from GrowthWorks managed funds, BDC and WIF, we will be able to further develop ROAM and expand on our sales and marketing efforts in North America,” said Gerry Verner, CEO of AnyWare Group.
"GrowthWorks Atlantic Venture Fund and GrowthWorks Canadian Fund are very pleased to invest in AnyWare Group. AnyWare Group has all the characteristics of the type of company our funds look to invest in such as a strong management team, proven technology and growing market potential," said Tom Hayes, President and CEO of GrowthWorks Atlantic Venture Fund.
“BDC is a strong supporter of AnyWare Group as we believe they have shown potential for leadership in the growing market for secure remote access services,” said Tony Van Bommel of BDC.
"The Workers Investment Fund is pleased to provide financing to another successful New Brunswick based business," said Larry Simpson, President and CEO of Workers Investment Fund.
William Steeves, Chairman of AnyWare Group, welcomed GrowthWorks, BDC and WIF to the board of directors. “Having these investors as members of our board will enhance the Board's present strength and help the company execute on its aggressive plan to further develop and distribute its flagship ROAM service.”
About AnyWare Group
AnyWare Group is an innovative provider of customer-driven business solutions. Leveraging the Internet and the ROAM platform, AnyWare Group cost effectively enables organizations to deploy highly reliable, secure information-based business solutions. ROAM is a complete, secure platform for delivering information and applications to authorized users where they need it. ROAM is packaged with powerful tools, capabilities and engineering services designed to simplify the user experience, integrate with any application, and ease support efforts.
About GrowthWorks*
GrowthWorks (www.growthworks.ca) is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorks managed funds, including the Working Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, GrowthWorks Atlantic Venture Fund, and Fullarton Capital managed funds, have approximately $800 million in combined assets.
GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, analyzing and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.
*GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC) Ltd., GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd., GrowthWorks Opportunity Fund Ltd. and GrowthWorks Commercialization Fund Ltd., GrowthWorks Atlantic Ltd., manager of Growth Works Atlantic Venture Fund Ltd., and Fullarton Capital Corporation, manager of Canadian Science and Technology Growth Fund Inc. and Capital Alliance Ventures Inc.
About BDC
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages approximately $500 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments.
About Workers Investment Fund
Workers Investment Fund is a New Brunswick based labour sponsored venture capital corporation. The Fund's investment objective is to make investments in businesses with the potential of achieving long-term capital appreciation for its shareholders. With over $18 million in net assets, WIF is the largest labour sponsored investment fund based in Atlantic Canada.
For more information contact:
AnyWare Group
Gerry Verner, CEO
506.639.7137
gerry.verner@anywaregroup.com
GrowthWorks
Tracey Morrison, VP National Marketing & Communications
604.862.6098
tracey.morrison@growthworks.ca
BDC
Tony Van Bommel, Director
BDC Venture Capital
902.426.9014
tony.vanbommel@bdc.ca
Workers Investment Fund
R. Laurence Simpson, President & CEO
506.444.8022
larry.simpson@nb.aibn.com