The funding is being applied to expanding product development, marketing and sales. The backing comes with the naming of Updata Venture general partners, John F. Burton and Tim H. Meyers, to the Kernel Group board of directors. Updata Venture is a private equity affiliate of Updata Capital Inc., one of the top three US investment banking firms specializing in the IT industry.
"The rise of global e-business has increased the need for companies to carefully guard their mission-critical applications, data and infrastructures against power outages, natural and man-made disasters as well as outright technology and software failures," Burton says. "What we see in TKG is a company not only equipped today with a portfolio of unique software solutions, but a company strategically positioned to serve the future needs of global enterprises."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
