FCA Venture Partners, the VC arm of Clayton Associates, has invested in a promising Georgia company for a second time in a year, this time doing so in conjunction with a new lead investor from San Francisco.
Last summer, FCA put $1.5 million into Catavolt, which markets a cloud software platform that connects corporations' data to employees' mobile devices. Joining it in a $5 million Series B is Toba Capital, which was formed recently by Vinny Smith, the former CEO and founder of Quest Software. Alpharetta-based Catavolt will use its new cash to build out its sales organization and ramp up marketing and product innovation.
"Catavolt has the capability to redefine enterprise mobility as we know it today," Smith said. "IT departments that need to meet the challenge of mobility, whether in a company-supplied or Bring-Your-Own-Device (BYOD) environment, can deploy secure, scalable applications to multiple device types, as well as utilize current infrastructure investments without heavy lifting. They truly get the full package with Catavolt."
Catavolt officials also said that Fran Dramis, former CIO of Bellsouth, has been elected chairman of the company's board of directors. FCA Advisory Board Member George Salem is staying on the board, as is Catavolt CEO George Mashini and Chief Technology Officer Glenn Osborne.
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