News and Events
Press Releases
News From JumpStart: Ohio TechAngel Fund Invests in PreEmptive Solutions, LLC
News From JumpStart: Ohio TechAngel Fund Invests in PreEmptive Solutions, LLC |
|
PreEmptive Gets Follow On Funding
Cleveland, Ohio - May 11, 2005 JumpStart Inc., Northeast Ohio's entrepreneurial development and funding organization, announced that the Ohio TechAngel Fund, LLC, has made an investment in PreEmptive Solutions, LLC, a JumpStart portfolio company. "We want to encourage the angel groups in Ohio to work together to syndicate capital raising rounds," said John Huston, Founding Member of the Ohio TechAngel Fund, LLC. "This deal is especially pleasing because not only are the PreEmptive team and the technology they're developing impressive, but this is the first time our Fund has co-invested with JumpStart. We hope to see the day when we can routinely syndicate angel rounds of $1 to $2 million dollars and make Ohio the easiest state in the country for entrepreneurs to access private equity." PreEmptive Solutions, LLC is a developer of software "obfuscation" and size reduction products designed to help businesses secure their intellectual property assets. In essence, PreEmptive's products allow developers of software to disguise the product's code, significantly reducing the possibility of "reverse engineering," a process by which unprotected software can be hacked. The new products planned by PreEmptive, which will apply to both Java and .NET platforms, will broaden the range of tools available to their thousands of customers worldwide. "This investment from the Ohio TechAngel Fund is useful not only from a capital standpoint, but because of their network," said Gabriel Torok, President of PreEmptive Solutions, LLC. "Their network of angel investors, who have a lot of connections and knowledge, is a great resource to be able to access." JumpStart invested $250,000 in PreEmptive Solutions, LLC. in November of 2004 to help PreEmptive create and launch new products. About PreEmptive Solutions, LLC About the Ohio TechAngel Fund, LLC About JumpStart Inc. Owned jointly by Case Western Reserve University and NorTech, the JumpStart board, executive management group, and staff include experienced entrepreneurs, investors, and representatives from each public university in Northeast Ohio. Press Contact: |