PORTLAND, Ore.--(EON: Enhanced Online News)--Cloud services pioneer Swan Island Networks, Inc. (www.swanisland.net), today announced two major developmental milestones that reflect the company’s growing marketplace momentum: designation as a Gartner 2012 “Cool Vendor” for Business Continuity Management and IT Disaster Recovery Management; and the closing of a $2.5 million private financing round.
“This recognition for Swan Island is richly deserved”
Swan Island Networks, creator of the TIES® software-as-a-service (SaaS) application, provides consolidated business intelligence solutions, out of Microsoft’s Windows AzureTM cloud, to Global 2000 companies.
Each year, Gartner, one of the world's leading technology research and advisory companies, identifies new “Cool Vendors” who offer technologies that are “innovative, impactful and intriguing.” Gartner publishes a series of corresponding reports, with analysis of each company. The analysis of Swan Island Networks this year was written by Gartner Managing Vice President, Chief of Research, and Chief Fellow, Daryl Plummer.
“We are excited and honored to receive this recognition from Gartner,” said Swan Island CEO Charles Jennings. “Having Gartner pick us out of the crowd of emerging companies in our sector and designate us as a Cool Vendor is, in fact, really cool.”
Swan Island’s customers are also pleased to see Swan Island gain this recognition from Gartner. “This recognition for Swan Island is richly deserved,” said Brian McNary, Director of the Global Risk Group for Pinkerton Consulting and Investigations. “They have been a critical vendor to us for over one year, and they definitely have achieved ‘cool’ status with us. We rely on their TIES service, and their personal support of our use of TIES.”
Swan Island also announced today that the company has closed a privately placed preferred stock financing round consisting of both new cash investment and conversion of debt.
“Both new investors and our previous creditors have given us a vote of confidence by participating in this financing round,” said Swan Island COO Steve Giannini. “This gives us significant new resources to fuel our growth and develop new applications of our TIES cloud services.”
The private round of financing was directly placed by Swan Island’s officers and constituted an exempt transaction pursuant to applicable state and Federal securities laws. The round is closed and no further securities are available as part of this round. This announcement of the closing of the round appears only as a matter of record.
About Swan Island Networks, Inc.
Swan Island Networks is a cloud services company providing business intelligence solutions. Its flagship technology, TIES, is a highly secure, Software as a Service (SaaS) for integrating, displaying and sharing data from open and proprietary sources. The company is now developing leading-edge Federation as a Service (FaaS) solutions, which offer powerful business intelligence through the seamless integration of cloud-based applications and data services. Swan Island Networks is a private company, originally founded to address information sharing weaknesses surrounding national security. Today, Swan Island Networks is working closely with Global 2000 companies to bring innovative, real-world solutions to market. For more information, visit www.swanisland.net.
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