Canopy Invests in Solera

Canopy Ventures announced that it has made a $3.9 million Series B Preferred Stock investment in Solera Networks of Lindon, Utah

September 20, 2006

1 Min Read
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LINDON, Utah -- Canopy Ventures announced today that it has made a $3.9 million Series B Preferred Stock investment in Solera Networks of Lindon, Utah. This is the first investment led by Canopy Ventures' new management team, and the first investment outside of Canopy's current portfolio in two years.

Solera Networks provides network monitoring solutions that collect and store massive amounts of network data for mission-critical performance analysis and forensics. With storage of up to 128 terabytes, Solera's network appliances can store several weeks' worth of detailed information about every packet transmitted in, out or across a large, high-speed network. The company markets its products primarily to the Network Management and Network Security Markets.

"We are very pleased to have partnered with Solera Networks," said Ron Heinz, Managing Director of Canopy Ventures. "They have produced innovative technology in an extremely attractive market, and are poised for significant growth. This infusion of capital will allow Solera to accelerate product awareness and enhance an already compelling product line."

"I have been fortunate to enjoy a longstanding relationship with Canopy," said Bryan Sparks, President and Chairman of Solera Networks. "When Ron and I began our discussions, we felt this was a perfect fit. We have developed a superb product and proven it with some highly sophisticated customers, and now is the time to start growing sales more rapidly. Canopy's investment will help make that happen."

Solera Networks Inc.

Canopy Venture Partners, LLC.

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