Atreus Gets $13MAtreus Gets $13M

OTTAWA -- Atreus Systems(TM) today announced that it has closed a $13.0 million (USD) Series C round of venture financing. Meritage Private Equity Funds, SAIC Venture Capital Corporation, and TELUS Ventures join existing investors Aliant, Inc., BDC Venture Capital, Blueprint Ventures, Mobius Venture Capital, and Skypoint Capital Corporation in this investment round that Atreus will use to continue the development of its industry-leading xAuthority product portfolio for the creation and activation of advanced IP services for carriers, service providers and enterprise customers worldwide. In addition, the company will expand its strategic alliances and global sales organization to further the adoption of the company's products and services.

"Atreus' ability to continue to attract a stellar group of investors is a strong validation of the company," said Andrea Baptiste, President & CEO, Atreus Systems. "This funding will provide us with the financial agility to support the needs of our major carrier and enterprise customers. This investment, together with our recent partnership and customer wins, strengthens our position to capture significant market share."

"Atreus' ability to serve multiple market segments compliments SAIC's strategy in providing cost-effective solutions to support our enterprise, government and carrier customers," added Robert Lind, Managing Director, SAIC Venture Capital Corporation.

"Atreus' significant traction in the new-generation OSS and software provisioning market was a catalyst for our investment," said Stephanie Smeltzer, Vice President, Meritage Private Equity Funds. "Atreus is unique in that it has a firm understanding of service providers' business problems, a clear technology leadership position, and an execution-oriented team capable of delivering an economically compelling solution for IP service fulfillment."

"TELUS is always searching for innovative companies that have a solid product strategy and a keen understanding of carrier requirements," stated Dr. Girish Pathak, Chief Technology Officer, TELUS. "We're investing in Atreus Systems because of its quality management team, innovative technology and its solution that clearly addresses carriers' major pain points in delivering advanced IP services and applications."

"At an early stage, we foresaw the potential for Atreus to augment the way IP services are created and delivered," noted Gary Rieschel, Executive Managing Director, Mobius Venture Capital. "Atreus has a bright future in this growth market and we will continue our strong support to expand its business to a prominent market position."

Atreus' flagship products, the xAuthority(TM) Service Fulfillment OSS Solution for wireline and wireless service providers, and the xAuthority(TM) Identity Management and Provisioning Solution for government and commercial enterprises, help to reduce operational expenses and improve ROI by automating the creation and delivery of customer-centric IP services and applications. The Company has strategic relationships with market leaders, such as Telcordia and SAIC, to resell the industry-leading xAuthority product portfolio to Tier 1 and 2 carriers and Fortune 1000 enterprises.

Atreus Systems Inc.