GroundWork Wins Under The Radar Award

Emeryville, CA—November 22, 2004—GroundWork Open Source Solutions, Inc., a leader in open source-based IT management solutions, announced that it was awarded the Under the Radar Innovation Award by IBDNetwork, a community of VCs, CEOs and other executives from private and public companies.

IBDNetwork’s advisory board evaluated more than 1,000 companies across five categories—including enterprise management, security, communications, digital home and “companies to watch”—inviting just 40 companies to attend the Under the Radar event. Of the 40, GroundWork was one of only five companies to receive the prestigious Under the Radar Innovation Award based on its robust technology solutions, market opportunity and unique value proposition. It competed against seven other companies in the “Companies to Watch” category, winning based on three criteria: the business problem the companies solves, the company’s unique value proposition and its unfair advantage in the market.

A leader in open source-based IT management solutions, GroundWork provides an open source platform that enables enterprises to effectively monitor their network and application infrastructures at a fraction of the cost of commercial software alternatives. GroundWork Monitor, the company’s flagship product, leverages the functionality of Nagios, an open source IT monitoring tool, and transforms it into an enterprise-ready IT management solution by adding functional enhancements as well as deployment services and ongoing support. 

“We’re happy to receive the Under the Radar Innovation Award,” said Robert Fanini, CEO of GroundWork. “We strongly believe that open source IT management represents a large and untapped market opportunity.  It is further validating to know that leading VCs from Mohr Davidow, Intel Capital and Selby Venture Partners selected GroundWork as the top company to watch from a variety of strong business candidates.”

“The IBDNetwork community members are typically company ‘forecasters’ that need to understand new market opportunities and trends in order to help plan their companies’ strategic initiatives,” said Debbie Landa, CEO of IBDNetwork. “IBD Network created the Under the Radar event as an opportunity for promising companies like GroundWork to share their technology and business model to investors and potential strategic partners in a unique, interactive format that includes feedback.”

About GroundWork Open Source Solutions

GroundWork Open Source Solutions, Inc. (www.groundworkopensource.com) develops, integrates and enhances leading open source software to deliver comprehensive open source IT monitoring solutions. With GroundWork solutions, enterprises leverage the flexibility and low cost of open source tools to achieve enterprise-level availability, performance and operational efficiency at a fraction of the cost of commercial software. GroundWork is based in Emeryville, Calif. and its investors include Mayfield and Canaan Partners.