August 1, 2007
Stuart Mill Venture Partners Leads $3.5-million Series B Investment in Sypherlink
Stuart Mill Venture Partners, L.P. today announced its first investment, leading a $3.5-million Series B round in support of Sypherlink, Inc., a Dublin, Ohio software company with significant traction in the federal sector as a data-sharing facilitator.
Other investors included Battelle Ventures, Reservoir Venture Partners, Innovation Valley Partners and an A round angel. In 2005, Battelle Ventures led a $3.5-million Series A round in which Reservoir Venture Partners participated.
“We are attracted to Sypherlink for its growth potential,” said Larry Hough, general partner of Stuart Mill Venture Partners, who joined the Sypherlink board. “We were immediately impressed with the company’s value proposition – particularly right now in the government sector,” continued Hough. “There is an urgent need and pent-up demand for faster, cost-cutting solutions to facilitate cross-agency and cross-jurisdictional data sharing and intelligence efforts,” he said, “and we believe that the company will soon reach a new market level even as it continues to innovate.”
“The funding will be used primarily to expand Sypherlink’s market presence and customer base within two core markets – government agencies that support integrated criminal justice and national security, and the global 1000 commercial business sector,” said Sypherlink CEO James Paat.
For more information contact Stuart Mill Venture Partners from this site or see www.sypherlink.com. See also the .pdf version of the Battelle Ventures news release.
Stuart Mill Venture Partners, L.P. today announced the recent formation of its $20 million venture fund, focused on clean technology and government sector services. Managed by Stuart Mill Capital, Inc., the fund is led by its General Partner, Lawrence Hough, former CEO of Sallie Mae, SatoTravel and Synxis Corporation. “We are pleased to build on past relationships with investors to enter a robust growth sector with a proven team of executives”, said Hough.
