Reliable email proves to be worth $40M more for Teneros
According to a research report cited by Mountain View-based Teneros, the average business experiences seven hours of email downtime each year.
Can you survive without your email? Apparently those businesses can’t, and they hire firms like Teneros to provide “application continuity” for Microsoft Exchange, the software back-end behind the email systems of most corporations.
The product itself is a plug-in appliance, the Application Continuity Appliance (ACA) that kicks in within moments of a system failure, keeping the network moving until it can be repaired.
Teneros launched the ACA in August 2005, and appears to have made good headway since against more expensive competing options. It’s generally used by small- to medium-sized businesses.
The $40 million financing was led by Advanced Equities, with participation from previous investors Goldman Sachs, New Enterprise Associates, Sevin Rosen Funds and Star Ventures. It was Teneros’s fourth funding so far; the company has now raised a total of $84.5 million.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.