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In this issue
Portfolio Company Headlines
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Skip Besthoff
"This is an exciting opportunity
to contribute to Castile's success
and to work closely with peers
I have known for many years." |
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Skip Besthoff joins Castile's investment team as a General Partner
We are delighted to announce that Skip Besthoff has joined Castile’s investment team as a General Partner. Most recently, Skip was at Rho Ventures in New York where he had a strong record of investing in and participating on the boards of market-transforming software and services companies including Everdream (acquired by Dell), IntraLinks (acquired by TA/Rho), Megapath and Verified Person. Skip shares Castile’s market-oriented approach and entrepreneur-centric orientation and has demonstrated a good instinct for recognizing emerging markets and technologies. Skip will focus on on-demand applications, technology-enabled services, and Internet-based businesses.
According to former Sybase, Commerce One and Everdream CEO, Mark Hoffman, who worked directly with Skip at Everdream, "Skip has been an effective fellow board member and was actively involved in our discussions and ultimate successful sale to Dell. He understands how to grow a venture-backed business and provides good advice and sound insights.”
Earlier in his career, Skip spent five years in Boston as a manager for Andersen Consulting (now Accenture). In this position he led large-scale systems development and integration projects for Fortune 100 companies. Skip is a graduate of Hamilton College and received his MBA with honors from Cornell University where he was awarded the distinguished Alfred Fried Fellowship for his academic achievements.
[More Info]
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Tom Pincince
“We are delighted to join forces with a market leader like EXFO
in the telecom test and
measurement industry.” |
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EXFO to acquire Brix Networks
EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO; TSX: EXF), the second-largest provider of portable test and measurement solutions in the global telecommunications industry, announced that it has signed an agreement to acquire Castile portfolio company Brix Networks.
Brix Networks brings to EXFO deep expertise in IP service assurance technology. The company’s solutions are used by telecom companies, mobile service providers and cable TV operators to guarantee the successful launch and profitable, ongoing operation of their VoIP, IPTV and managed services, while large enterprises deploy its offerings to achieve successful rollouts and widespread organizational acceptance of their new, real-time IP applications.
“The automated, real-time service assurance solutions provided by Brix Networks are increasingly becoming mission-critical for network service providers (NSPs) given the non-deterministic nature of IP networking and because the growing number of consumers adopting IP services is too widespread for NSPs to rely on expensive truck rolls to handle such tests,” said Germain Lamonde, EXFO’s Chairman, President and CEO.
“Given our unique value proposition in the IP service assurance industry and EXFO’s leadership on the test and measurement side with NSPs, the combined entity should be a significant player in the test, measurement and service assurance industry,” said Tom Pincince, President and CEO of Brix Networks.
Castile congratulates Tom and his team on their success. [More Info] |
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Castile leads financing round for North End to accelerate product and market development
North End Technologies has raised over $4 million in funding to accelerate product and market development with all three company founders participating as investors. "North End is pursuing a market-transforming vision for personal interactions via the Internet," stated founder Grinnell More, CEO of North End. "Castile has provided great insight for our ground-breaking efforts and is entrepreneur-centric, committed and resourceful," continued Grinnell.
North End was launched last summer by accomplished entrepreneurs and innovators who bring a unique blend of technological, operational and entrepreneurial experience. Currently operating in stealth-mode, North End is seeking to leverage the evolving market demand for personal, interactive communications as well as advances in technology such as widespread wireless connectivity and cheap computing power. |
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Polaris joins returning investors Highland and Castile to lead a new round for Hangout Industries
Hangout Industries (formerly EVS) is creating a unique web interaction by combining the two worlds of virtual reality and social networking. Polaris Ventures recently led a new financing round for the company with existing investors, Highland Capital and Castile, also participating. Hangout Industries was founded on technology from MIT and was originally incubated at Castile. The company will continue to operate in stealth-mode for the time-being with a public launch anticipated in later 2008. |
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Ken Boyda
“I am excited to be part of
Ahura Scientific as it continues
to build and expand its product
offerings and markets served.” |
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Ahura Scientific launches new platform for multiple industries; achieves record quarter and expands board
Ahura Scientific recently announced that it has launched a Fourier-Transform Infrared (FTIR) platform, a three-pound handheld system for field-based chemical identification. In addition to the safety and security market, Ahura Scientific’s new FTIR platform can be applied to a range of quality control, product verification, and raw material inspection applications in the industrial sector, including pharmaceutical manufacturing, food production, petrochemical processing, and composite analysis.
The company started 2008 with another record quarter in bookings and new customers added. The company has also welcomed to its board Ken Boyda, a successful entrepreneur who was most recently the president and CEO of GE Security, a $2 billion global technology and manufacturing business. Ken previously was the president CEO of Interlogix and of SLC and is currently sought-after for and serves on a number of company boards. Ken brings significant industry contacts and knowledge and has extensive international experience from negotiating contracts in more than forty countries. [More Info]
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Aurora Networks completes eighth consecutive profitable quarter; finance expert to lead Audit Committee
The continuing demand for Aurora Network’s compelling portfolio of optical solutions, designed specifically for cable operators to increase network capacity, has resulted in Aurora’s eighth consecutive quarter of profitability. The requirement for bandwidth is fierce, and Aurora’s unique ability to architect flexible, reliable and cost-effective high-bandwidth systems for broadband service providers is driving their dramatic growth worldwide.
Aurora’s board has elected 35-year veteran C. Thomas Weatherford to lead the board’s Audit Committee. Thomas who retired from Business Objects as the EVP and CFO, had also previously held senior financial positions at NETCOM On-Line Communication Services, Logitech, TI, Schlumberger, and Tandem Computers. Thomas currently serves on a number of public and private company boards.
[More Info] |
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