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BFTP Invests $100K in BitLeap
Sep. 7, 2006 11:41am
Pennsylvania’s Ben Franklin Technology PArtners (BFTP) has invested $100,000 in Carlisle-based BitLeap, LLC, a managed services technology company. This represents BFTP’s second investment in BitLeap’s technology. This latest investment will be used in BitLeap’s marketing and commercialization phase to supplement the company’s international sales and advertising efforts.
According to BitLeap’s CEO, Guy Suter:
“This investment represents a significant vote of confidence by the State of Pennsylvania in not only BitLeap’s technology but also the demand for better data backup solutions in today’s market. These additional funds will assist BitLeap’s U.S. and international sales and marketing efforts and help us achieve solid growth during the next year. We are very pleased to continue our strong relationship with Ben Franklin Technology PArtners and to have their support.”
BitLeap currently works with customers and industry partners across 24 states in the United States to protect critical business data using its LeapServ backup appliance and proprietary backup technology. To do this, BitLeap serves the backup needs of customers across a range of industries including Accounting, Education, Entertainment, Finance, Government, Healthcare, Law Enforcement, Legal, Manufacturing, Real Estate, Technology and more. BitLeap is based in the Murata Business Center, a business incubator in Carlisle, PA.
Unlike BFTP’s initial January 2005 research and development investment of $40,000 in BitLeap, the purpose of the new funding is purely commercialization. According to Pam Martin, BFTP’s South Central Director, the decision to make a second investment in BitLeap was a wise one because:
“BitLeap has a proven track record of fulfilling BFTP’s goals through technical product innovation and job creation in Pennsylvania. We are pleased to be able to help young companies who have good ideas and a solid plan grow through both BFTP’s funding options and professional assistance services.”
About Bitleap
BitLeap’s innovative backup solution was released in 2004. This solution allows businesses of any size to implement automatic offsite data backups with ease. Today, Bitleap continues to redefine the industry with a managed server line called LeapServ, which administers the bandwidth-efficient backup service and controls virtual private network connections. For more information about BitLeap, please visit http://www.bitleap.com.
Press Contacts:
Guy Suter
BitLeap, LLC
(866) 363-0668
marketing@bitleap.com
Pam Martin
Ben Franklin Technology PArtners
(814) 898-6650
pammartin@cnp.benfranklin.org