April 6, 2009 – Newark, NJ – Evident Software, Inc., a provider of real-time performance monitoring and troubleshooting, capacity planning and chargeback software for high performance infrastructures and middleware environments, announced today that they have secured funding from the New Jersey Economic Development Authority (EDA) through the state’s Edison Innovation Fund. The Fund, a key element of Governor Jon S. Corzine’s Economic Growth Strategy, was created in October 2006 to spur innovation, create new, high-paying jobs and cultivate an entrepreneurial environment for technology and life sciences companies in New Jersey.
“In these tough economic times, it’s great to have a state organization such as the EDA committed to technology companies like Evident. This additional funding provides us with the necessary liquidity to support the continued growth and success of the Evident ClearStone
product line,” stated Roger Boyce, Evident’s CEO.
“The support of technology companies within the state is crucial to growing New Jersey’s economy and reputation as a home for innovation,” said Caren Franzini, EDA chief executive officer. “Evident is a great example of how the Edison Innovation Fund is working to ensure that our technology and life sciences businesses are able to compete in today’s high-tech economy.”
Evident is located in the New Jersey Institute of Technology’s Enterprise Development Center, the state’s largest high-technology business incubator. The incubator is within the Newark Edison Innovation Zone, one of three “technology neighborhoods” in the state where academic and research institutions can work with companies to develop and market new products or services while enjoying certain financial incentives and other benefits. The zones, also established within Camden and the greater New Brunswick area, are designed to spur collaborative efforts and encourage the rapid transfer of discoveries from the laboratory to the marketplace.
The EDA, in consultation with the New Jersey Commission on Higher Education and the New Jersey Commission on Science and Technology, is responsible for managing the Edison Innovation Fund. Since the launch of the Fund in October 2006, New Jersey has delivered over $338 million in financing assistance, venture fund investments, business incentives and tax credits to early-stage and established life sciences and technology businesses. This assistance has leveraged more than $705 million in total public/private investment, and is expected to lead to the creation of approximately 4,677 new jobs in New Jersey.
About Evident Software
Evident Software provides real-time performance monitoring and troubleshooting, capacity planning, and chargeback software for high performance infrastructures and middleware environments. Without real-time analytics it is impossible to run at optimal performance and contain operational risk – scale and complexity overwhelm current tools and methods. Evident’s patent pending, CEP-based software pipeline transforms data in real-time to analyze cross-domain resource allocation, usage, performance and cost for both real-time and historical data. The rich internet-based GUI in the solution overcomes the limitations in other tools and methods by correlating and transforming this data into innovative visualizations, enabling IT architects, operations and developers, and the lines of business, to manage operational risk, scale dynamically, and offer cloud or utility services. Evident’s partners include Oracle, IBM and DataSynapse. Evident Software is a privately held company headquartered in Newark, NJ.
