Management Team Additions Bring Experience & Expertise
Plethora today announced the addition of Ben Martindale as its Chief Executive Officer. Mr. Martindale comes to Plethora with many years of executive management experience including posts as CEO at eGrail, Inc., Executive Vice President at Template Software, Inc., and VP of Marketing at Visix Software, Inc. He served in national marketing management positions with Sybase, Inc. for over seven years, and worked with Computer Corporation of America, Martin Marietta Data Systems, and American Management Systems, Inc., earlier in his career. Mr. Martindale will be responsible for the direction setting and day-to-day operations of the company, capital fund raising, and business development.
"After examining Plethora's technology in detail, it became clear to me that this company has a tremendous opportunity to improve the personal productivity of anyone using computers in a business setting - especially workers in remote locations,? Mr. Martindale said. ?I am thrilled to have the chance to work with an outstanding team committed to building a successful company that addresses this growing industry need and market opportunity.?
Plethora today also announced it has retained CyberCFO to provide outsourced financial services to Plethora, including a CFO, controller, and financial analyst. Plethora's CFO will be George F. Blacker, CPA. Mr. Blacker possesses over 22 years of senior financial management experience in the technology field, including time as CFO and Director for Oracle Corporation?s GEHS Consulting Services, Verizon Communications, and Metro Technologies, Inc. Mr. Blacker and the CyberCFO team will assist Plethora in daily financial activities as well as complex modeling, financial strategy, and capital fund raising.
Negotiations are ongoing with candidates for additional senior management posts.
Corridor Software becomes Plethora Technology?
In an effort to distinguish itself within the crowded software space, Corridor Software has settled on a unique new name: Plethora Technology. Plethora's website will be found at http://www.plethoratech.com.
OAO Corporation Invests Second Seed Round
Plethora today announced that it has secured a second seed round of financing from its primary funding source to date, OAO Corporation. Plethora will use OAO?s investment in the immediate future to expand its management team, enhance its business development efforts, and continue aggressive product development. The terms of the financing were not disclosed.
"OAO's second investment makes it possible for us to continue to grow and improve all aspects of our business," Tim Simms, COO & CTO of Plethora, said. "Having a great company like OAO behind us has been a key to our success thus far, and we are very excited to have them on board for this next phase of our growth."
About Plethora Technology:
Plethora Technology, Inc., is a provider of innovative Linux-based solutions for small businesses. Founded in September, 2000, as Corridor Software, Inc., Plethora is funded and backed by OAO Corporation?s New Business Incubator. Plethora is currently located in OAO's headquarters building in Greenbelt, MD. As the company rolls out the first beta version of its product, Plethora is actively pursuing additional capital funding to be closed in the third quarter of 2001.
Public availability for the first component of Plethora's product, facilitating secure networking and remote access via a powerful firewall management component, innovative intrusion detection and virtual private networking components, is targeted for May, 2001. Future releases will include the integration of unified communications - both text and voice. With more than twenty pre-order customers and more than fifteen resellers in various stages of software review and acceptance, Plethora continues to accept reseller applications and pre-release product orders at its website.
For more information, press contacts, beta tester and pre-order applications, and investment information, visit http://www.plethoratech.com or contact Joel Haspel, Chief Strategy Officer, at firstname.lastname@example.org or 301-397-5001.