StrikeIron Names O’Leary as CEO While Landing $1.7 Million in Venture Funding

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Growing Firm Moves to Further Accelerate Customer Acquisition in Data-as-a-Service Market, naming new CEO Sean O'Leary and securing Venture Funding.

"The Data-as-a-Service (DaaS) business model allows rapid adoption at a time when reducing the complexities of streamlining data quality and management is all-important to users."

StrikeIron, a leading innovator in cloud computing services for business users, application developers and enterprise IT professionals, today announced that it has named Sean O’Leary as CEO while receiving $1.7 million in venture funding.

O’Leary is a recognized technology executive and business leader with over 20 years of success in building and leading global sales and marketing organizations. Entrepreneur and co-founder Richard Holcomb remains Chairman of the Board.

Funding is led by Boston-based Ascent Venture Partners (http://www.ascentvp.com) and participation from The Aurora Funds (http://www.aurorafunds.com) and NC Idea (http://www.ncidea.org), all current investors. Use of Series 3 proceeds will be focused upon market expansion and product development at a time when the cloud computing ecosystem is experiencing rapid adoption.

In accepting the new role, Sean O’Leary stated “I am very excited to have thfis rare opportunity to work at the leading edge, sometimes bleeding edge, of cloud computing. Through a combination of vision and innovative technology, StrikeIron has already established themselves as leaders in the cloud computing space. Looking ahead, with powerful tools that are driving such efficiency and value to customers large and small, we have opportunity for even greater expansion into one of the fastest-growing segments in the IT industry.”

Prior to his StrikeIron involvement, O’Leary was the Vice President of Sales, Marketing and Business Development at TapRoot Systems where he led the launch of multiple new products, including the widely acclaimed mobile application WalkingHotSpotTM and Best Buy Mobile’s, Mobile Hot SpotTM. In 2003, O’Leary was recognized as one of the top 40 executives under 40 in the Research Triangle Park, North Carolina.

Matt Fates, of Ascent Venture Partners, stated that “we are enthused that StrikeIron is so ideally positioned to benefit from such a large and rapidly-adopting market. They have respected customers, proven and innovative technology and an efficient delivery platform. The Data-as-a-Service (DaaS) business model allows rapid adoption at a time when reducing the complexities of streamlining data quality and management is all-important to users."

Funding will help enhance StrikeIron Web services catalog, a sophisticated “as a Service” distribution engine that greatly reduces the complexity for business users to access accurate data and business functionality when and where they need it. The catalog is built on top of a technology platform that provides a consistent interface, enabling easy integration and customization to meet specific business needs while dramatically reducing both development and management time.

About StrikeIron, Inc.
StrikeIron is the leader in providing innovative data solutions (DaaS) and communication functionality in the cloud computing space. Business users and enterprise IT professionals are able to customize and integrate external data sources and additional external functionality from StrikeIron into enterprise, Web, and composite applications. The company provides a technology platform, micro-transaction management, and a consistent interface across many XML-based services. Currently, StrikeIron offers live data sources and business functionality from organizations such as Cortera, Gale Cengage, MapQuest, Midnight Trader, SpeedTax, and Zacks.

StrikeIron delivers value to over 1,600 customers and partners including Avaya, BEA, Delivery.com, Eloqua, IBM, Honda Europe, Siemens, Nike, Salesforce.com, and Exclusive Resorts. For more information, visit http://www.strikeiron.com.

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Christina Spillars
StrikeIron
919-467-4545 ext. 1135
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