Five Across Reinvents Instant Messaging for Workgroups
Announces Funding and First Product Launch
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PALO ALTO, Calif.--(BUSINESS WIRE)--Aug. 9, 2004--Five Across, Inc., the leading supplier of instant messaging software with advanced features for business workgroups, today announced $2 million in Series A investment from Granite Ventures and Adobe Ventures LP, the venture capital limited partnership affiliate of Adobe Systems. As part of this investment, Standish O'Grady and Tom Furlong of Granite Ventures have joined the Five Across board of directors. Separately, the company announced the availability of InterComm(TM), its workgroup instant messaging software, for free download at the company's Web site: www.fiveacross.com.
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Five Across' charter is to deliver innovation in instant messaging for business workgroups, whose team members are increasingly looking for alternatives to consumer IM networks. The company's product strategy combines a compelling new group-based approach to IM with one-click file sharing and tools for communicating effectively within teams.
Katz runs the company with 22 paid employees and 300 volunteers who give technical support to new users and are compensated with free memberships (remember those days at AOL ). He rents space in two AT&T data centers, one in Manhattan, another inSecaucus, N.J., with $700, 000 worth of computer equipment, end servers from Dell Computer and five IBM Unix servers. The $2 million annual payroll is his biggest expense.
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"Our group model matches the way people work, orienting communication around projects and documents," stated Five Across CEO Glenn Reid. "It's like putting the file cabinet next to the water cooler."
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Five Across is filling a widening gap in the fast-growing market for business instant messaging. Consumer IM software is commonly used in the workplace, but lacks a business orientation. By delivering features that make the professional workgroup experience more productive, Five Across is redefining the way people think about and use IM in the workplace.
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"Clearly, instant messaging has proven its place in the business world and the market is expanding," said Standish O'Grady of Granite Ventures. "Five Across has a unique approach that we are convinced will change the direction of enterprise instant messaging."
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Five Across was founded by Glenn Reid, a Silicon Valley veteran with a track record for delivering innovation in seemingly mature software categories. Reid began his career as a systems programmer at Adobe Systems in 1985 and has held engineering management positions at Fractal Design, Vitria, ebrary, and Artifex. Most recently, Reid was director of engineering, consumer applications at Apple Computer. There, he created both iMovie and iPhoto, category-changing applications that helped drive Apple's digital hub strategy. Reid left Apple in 2003 to form Five Across and raise the bar in the burgeoning enterprise instant messaging market. He has an end user's perspective on both the benefits and drawbacks of instant messaging, along with the technical acumen of an experienced engineer, and a vision for the next generation IM functionality. Led by Reid, Five Across has attracted a proven management team, each with more than 20 years of experience at companies like Peat Marwick, WebEx, NeXT, and SAS Institute.
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For more information about InterComm workgroup instant messaging software, see the accompanying news release titled, "Five Across Introduces Workgroup Instant Messaging Software."
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About Five Across
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Five Across, Inc., was founded in November 2003 to deliver next generation instant messaging software that makes the business user's instant messaging experience more productive. The company's flagship product, InterComm, helps business users avoid unwanted interruptions, share documents, and communicate as a group more effectively. Five Across is based in Palo Alto, Calif., and backed by leading investors Adobe Ventures and Granite Ventures. For more information or to download a free copy of InterComm, please visit www.fiveacross.com.
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InterComm, Five Across and the Five Across logo are trademarks of Five Across, Inc. All other company and product names are the trademarks or registered trademarks of their respective holders.
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Contacts
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Five Across, Inc.
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Kathy Englar, 650-320-8454 ext. 203
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kathy@fiveacross.com
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Point Communications
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Joanne Kisling, 831-462-9378
joanne@pointcommunications.com
