Security Market Segment LS
Thursday, 22 September 2005 10:00

Blue Reef gets $1m for US assault

By

Early stage advisory company, BSI has assisted in raising capital for network security developer Blue Reef to fund a $1m project covering Blue Reef's entry into the US market.

Blue Reef's Sonar technology, deployed at more than 200 sites across Australia, is claimed to be the market's first enabler of secure collaboration and commerce over open networks.

The platform is target at open networks: such as those of educational institutions needing to foster open learning environments, as well as government departments and enterprises wanting close interactions with trading partners.

Blue Reef is being introduced to the tough US market via a University of California (UCLA) program that allocates - to a select group of international technology companies - groups of MBA executives who spend six months developing, for each company, a tailored market entry strategy.

At the conclusion of the UCLA program in December, Blue Reef's offering and proposed market strategy will be presented to prospective partners and venture capitalists, to springboard Blue Reef's US business development. The cost of participating in the project, plus initial setup costs in the US, will reach around $1m.

Blue Reef CEO, Robert Smyth commented, 'We have long seen the United States as the ultimate market for Blue Reef. In the educational sector alone - where demand for our technology is strong - the US market is more than twenty times Australia's size.

'This, with our growing success in enterprise markets and the assistance of the UCLA Global Access Program that speeds our market entry, gives Blue Reef a strong start that we believe will translate into commercial success in the US market,' he said.

Ivan Kaye, Director of BSI added, 'BSI, through our incubator fund Australian Distributed Incubator (ADI) was an early investor of Blue Reef and we are proud to have contributed to their commercial success to date.

'We are equally confident of Blue Reef's capacity to succeed in the US, and we are very much looking forward to deepening our relationship with Blue Reef at this exciting juncture in their development,' he concluded.

ADI's investment and further capital from M-Group, venture capitalists specialising in companies seeking international growth, injected $250,000 into Blue Reef to fund its initial US market entry. Blue Reef's capital raising process and US Entry Programme has also been supported by the Victorian Government's VicStart program and the Federal Government's COMET (Commercialisation of Emerging Technologies Program).

Read 5995 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

GET READY FOR XCONF AUSTRALIA 2022

Thoughtworks presents XConf Australia, back in-person in three cities, bringing together people who care deeply about software and its impact on the world.

In its fifth year, XConf is our annual technology event created by technologists for technologists.

Participate in a robust agenda of talks as local thought leaders and Thoughtworks technologists share first-hand experiences and exchange new ways to empower teams, deliver quality software and drive innovation for responsible tech.

Explore how at Thoughtworks, we are making tech better, together.

Tickets are now available and all proceeds will be donated to Indigitek, a not-for-profit organisation that aims to create technology employment pathways for First Nations Peoples.


Click the button below to register and get your ticket for the Melbourne, Sydney or Brisbane event

GET YOUR TICKET!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Stan Beer

Stan Beer has been involved with the IT industry for 39 years and has worked as a senior journalist and editor at most of the major media publications, including The Australian, Australian Financial Review, The Age, SMH, BRW, and a number of IT trade journals. He co-founded iTWire in 2004, where he was editor in chief until 2016. Today, Stan consults with iTWire News Site /Website administration, advertising scheduling, news editorial posts. In 2016 Stan was presented with a Kester Lifetime Achievement Award for his contribution to Australian IT journalism.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments