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PRNewswire: Covalent Technologies Receives $5 Million in First Round Funding...

Dec 16, 1999, 21:07 (0 Talkback[s])

"Covalent Technologies, Inc., the leading provider of Apache Web server e-commerce solutions, announced today that it has closed $5 million in first round funding. The round, led by H&Q, LLC ("HQVA"), included investments from their affiliated funds Adobe and TI."

"Covalent Technologies offers commercial support and enhancements for the open-source Apache Web server software. Covalent's flagship product, the Raven(TM) SSL module, provides Web professionals with the encryption necessary for safely transferring data via the Internet."

"We are extremely pleased to partner with Covalent Technologies," said Rupen Dolasia who, along with Standish O'Grady, is a Principal of HQVA set to join Covalent's Board. "We believe Covalent is uniquely poised to continue its growth as the central source for Apache Web server solutions across all supported operating systems, including Linux and Solaris."

Press Release