Melbourne, Australia, May 30, 2007 --(PR.com
)-- Exinda Networks (http://www.exinda.com/) and Synetek Systems (http://www.synetek.com/), two Victorian-based companies participating in the ANZA Technology Network’s Fast Track to the US strategic marketing program, closed funding rounds in record time—just 6 months into the program.
Executives from both companies attribute these first quarter ’07 results to their involvement in the ANZA program, which matched them with a US-based mentor with critical expertise and connections in their particular market sector, enabling them to navigate some challenging US business terrain at an accelerated pace.
Exinda Networks, a global supplier of wide area network (WAN) optimization and application acceleration solutions for enterprise, government and service provider clients, netted (US Dollars) $6M in equity funding from OpenView Venture Partners, a venture capital investment firm based in Boston. The funding is earmarked for expanding Exinda’s sales and marketing efforts and in particular for growing its US operations.
“Exinda has benefited greatly from the Fast Track program,” said Con Nikolouzakis, Exinda’s CEO. “Through our mentor, we’ve tapped into great sources of knowledge and experience regarding the US market. Our participation has proven invaluable. We’ve streamlined our entry into this important market, which has helped us to focus on customer satisfaction and product innovation.”
Steve Anderson, a Silicon Valley-based expert on developing management strategies for private and public companies and their investment constituents, was matched through the ANZA Fast Track with Exinda’s Nikolouzakis. Using the latest Internet communication and online conferencing devices, the two engage in regular biweekly strategy sessions devoted to Exinda’s US business plan. Their strategy paid off quickly—but was not unexpected.
“I feel certain that Exinda’s bright and talented team will thrive in the US market,” said Anderson. “Other Victorian companies should follow in Exinda’s footsteps to leverage the many benefits this mentor program offers.”
Synetek Systems, an on-demand business applications provider for the global SME market scored what’s referred to as a “mezzanine” funding round from an undisclosed source.
“Through involvement in the ANZA Fast Track to the US program we have been able to identify significant opportunities to enter the market with our active email archiving solution for SMBs, MailRevive. Through working with our mentor, we have very efficiently been able to convert ideas into strategy into sales. Additional capital investment will now be made to exploit further US opportunities on the back of several successful pilot programs,” said Synetek’s Lee Trevena, who co-founded the company with partner Jason Polites.
Trevena and Polites were matched with Simon Anderson, a US-based business strategy and development expert who has advised many Australian technology companies.
“Lee and Jason are professional, creative and very receptive to input and guidance, all of which stands them in good stead to succeed in the US market,” said Anderson. “Their MailRevive product is well positioned to take market share in the rapidly expanding market for small business email discovery and recovery solutions.”
Australian companies often look to expand overseas. The US is typically a first choice, due to the similarities and good relations between the two countries, including a free trade agreement. Yet conquering a market more than 10 times the size of their own and navigating nuances in business dealings, market strategies, and culture can prove daunting. ANZA works with Australian companies to explore, build and strengthen business roots in the US. In the case of its Fast Track program, the pace is accelerated to secure funding, find partners and/or gain a foothold in the US technology marketplace in just 15 months. The rapidity is achieved, in part, by providing Fast Track participants access to the mentors and ANZA’s network of technology, legal and financial executives who can connect Australians with those in the US who can help them succeed.
“In the US business is transacted through personal connections and networks. If you’re new to this market, a seasoned US executive prepared to open their Rolodex is invaluable to you,” said Viki Forrest, ANZA’s CEO. “Realistically this only happens in a trusted relationship. ANZA’s matching process aligns US mentors with CEOs in the Fast Track program to produce a high-performing, trusted relationship—in record time—that’s Fast Tracking.”
The ANZA Fast Track to the US is open to innovative Victorian-based businesses. It has the support of the Victorian government, which provides matching funds of select companies’ costs for the program. Under a joint agreement with the Victorian government, ANZA will conduct another intake round in August 2007, in which companies present their business plans before a panel of ANZA executives and US market experts who determine each company’s readiness for the program and US market potential. Australian businesses in other states and New Zealand enterprises should contact Viki Forrest at firstname.lastname@example.org about participating in other ANZA programs, including one based on this successful Victorian model.
ANZA Technology Network is the leading independent organization connecting the Australian, New Zealand and US technology and biotechnology sectors. Through its Gateway and Fast Track to the US programs ANZA has assisted over 200 Australian and New Zealand companies as they enter the US market—more than any other non-government organization. For more information: http://www.anzatechnet.com/