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Finally, the tide turns on rising complexity in the data centre

15/12/2003

"NESTA's participation in Tideway Systems' Seed Investment Round further underlines the highly innovative nature of our product."

Large organisations have billion dollar IT budgets, but the management of their sprawling IT systems is today stuck in the age of paper: system administrators often rely on Post-It® notes to keep track of system state and changes.

London-based Tideway Systems, has created a unique appliance-based software solution that as well as saving time and money, will also bring serious security and risk management benefits, by ensuring that any knock-on effects resulting from changes to IT environments, can be predicted and controlled.

The product will make it simpler to manage dynamic IT environments and one of its key strengths lies in its ability to manage mixed IT environments, for example, Microsoft Windows and Linux based applications.

NESTA's award is part of seed round funding which also includes angel investors Esther Dyson of EDventure Holdings, John Taysom, founder and Managing Partner of RVC, formerly the Venture Capital arm of Reuters and Peter Shearan, former senior vice-president of Technical Services at Micromuse.

CEO, Richard Muirhead, who founded Tideway in 2002 to commercialise work he began in 2001, was formerly a co-founding senior vice-president of Orchestream with his brother Charles Muirhead. He said: "The product has been designed and prototyped in collaboration with global enterprises from the City of London and around the United Kingdom. NESTA's participation in Tideway Systems' Seed Investment Round further underlines the highly innovative nature of our product."

Mark White, NESTA Director of Invention and Innovation, said:

"Our investment in Tideway Systems reinforces our commitment to investing in the commercialisation of innovation in all forms, in talented teams and in intangibles such as software, services and design as much as in patentable inventions."

Tideway Systems is using its investment from NESTA to complete the product prototyping and testing phase so that it can release the product onto the market this year.

Tideway Systems works with global IT enterprises within sectors including investment banking, financial services and ecommerce to make them more responsive, cost-effective and reliable. Tideway Systems' unique, cost-effective software appliance automatically discovers and tracks network, server, database, application and business relationships previously un-economic to map. Tideway's accurate, up-to-date, 360 degree view of the IT environment radically enhances IT architecture, governance, deployment and support functions.

Headquartered in London, UK, Tideway Systems was founded in 2002 by Richard Muirhead, previously Senior Vice President and co-founding officer of telecoms software company Orchestream. Most recently he was Entrepreneur-In-Residence with Accel Partners. For more information on Tideway Systems please visit www.tideway.com