IBM launches first-ever start-up accelerator
Etagon founder and CEO Rony Zarom will launch the standard at an Oracle exhibition in San Francisco.
Rony Zarom, founder and current CEO of Israeli start-up Etagon , launched Origon 5000, his company’s database standard, at the OracleWorld 2002 exhibition in San Francisco. Origon 5000, the first appliance to operate on Oracle 9i cluster architecture, simplifies the installing and managing of databases in an enterprise operating with cluster architecture. Zarom is a former Comverse(Nasdaq:CMVT) senior executive and eXalink CEO.
Etagon’s solution is designed for cluster technology applications, with a few inexpensive computers linked together and operating simultaneously in order to provide the computing power of a single expensive server. The solution, which is particularly useful for critical heavy applications, such as databases, constitutes a significant breakthrough, since it saves a great deal of money. In addition to saving tens, or even hundreds, of thousands of dollars on a server, the solution also saves on expensive personnel, and on installing and maintaining databases.
Senior industry figures at the exhibition cited Etagon as “the great hope” of start-ups. They noted that the database market totaled tens of billions of dollars a year, and added, “Getting even a few percentage points of the market would be enough to make Etagon the next Check Point (Nasdaq: CHKP).”
As of now, the Origon 5000, still in the beta stage, has been installed at a number of customers in Israel and the US. Etagon is currently in advanced negotiations to install the Origon 5000 at a number of large financial concerns in the US.
Zarom, who sold eXalink to Comverse in a $550 million share swap, and had holdings in the company worth an estimated $300 million, founded Etagon in July 2001. The company has 40 employees, including 32 in Israel, who deal mostly in R&D.
The idea of founding Etagon came from Decima Ventures, a high-tech “idea factory”. Etagon has raised $12 million to date in two financing rounds from Decima and Evergreen Partners, at a $20 million company value, after money. Evergreen was one of the prominent shareholders in eXalink at the time it was sold. The Investment Promotion Center of the Ministry of Industry and Trade recently approved a $540,000 allocation for setting a platforms and applications R&D center for the company.
Published by Globes [online] - www.globes.co.il - on November 13, 2002
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