Prolatus Picks Up $6.5 Million Investment, Mellon Ventures Led with $3.5 Million
Press release from the issuing company
MINNEAPOLIS, June 28, 2001 Prolatus, Inc., an innovative software company serving the graphic arts industry, today announces that it has received $6.5 million in funding through investments led by Mellon Ventures, Inc., an affiliate of Mellon Financial Corporation (NYSE:MEL), with a $3.5 million investment. Additional funding was received from Minneapolis-based companies: The Rahn Group, Brightstone Capital LTD., Imagine Capital Partners and individual investors. This latest investment is the company’s third round of successful funding, now totaling $8.5 million.
Prolatus CEO Jeff Hoekstra says this latest round of funding is a big boost, particularly as it comes on the heels of the company‚s debut and technology launch at this past Spring‚s Seybold Boston conference, where Prolatus was given a coveted Seybold Hot Pick distinction. Says Hoekstra, “This round of funding will enable the company to reinforce and expand its commitment to enhancing creative and production workflow. One of the greatest concerns of graphic arts professionals worldwide is time. These funds will allow us to further develop our programs, which are designed to cut costs and expedite all areas of production. They also will allow us to further expand our presence and product marketing efforts,” said Hoekstra.
According to Ryan Busch, vice president of Mellon Ventures (Pittsburgh Office), Prolatus Inc., is led by experienced graphic arts professionals who understand the needs faced by their industry. “For Prolatus it‚s all about simplicity,” said Busch. “Fast and simple image transfer and production without compromises on quality or burdens on people, equipment or budgets translates into a strong position in the market with a product offering in demand.” Busch added that he is confident Prolatus‚ patent-pending Catalyst Technology will define the company as a leader in development of cutting-edge workflow solutions.
Busch added that Prolatus won the confidence of Mellon Ventures in large part through its highly innovative technology. “Prolatus is committed to developing workflow solutions that, when combined with existing systems, allow for higher flexibility and efficiency. The company’s software programs are designed to seamlessly enhance and maximize workflow, thereby increasing returns on investments for companies worldwide,” Busch said.
PROLATUS' proven, bandwidth-independent Catalyst Technology is the foundation of the PROLATUS product line. Catalyst Technology software modules eliminate the traditional limitations and/or inefficiencies associated with moving and handling large digital images. In addition, Catalyst's highly extensible architecture allows for great flexibility in meeting the unique needs of businesses both large and small. The Catalyst software suite includes: PROLATUS Courier and Courier Server, PROLATUS Expert and PROLATUS Expert Server, and PROLATUS WebConnect.
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