| CYBERA RECEIVES DEBT FUNDING FROM COMMERCE CAPITAL |
Nashville, Tenn., January 20, 2004 – Private data network provider Cybera Inc. announced today that Commerce Capital L.P. has provided debt funding to help Cybera expand its presence in the Midwest.
“Cybera has found significant niche opportunities for its SmartNetwork solution and proven that it can rapidly gain share in those markets,” said Andy Higgins, president of Commerce Capital L.P. “We were very impressed with Cybera’s success to date, considering the company’s strong top and bottom line growth during one of the worst telecommunications markets in history.”
Cybera has been very deliberate and conservative in its business approach so far. Cliff Duffey, Cybera’s chairman, president, and chief executive office, said the company will maintain that approach moving forward.
“We are committed to smart, steady growth that allows us to provide the highest levels of customer service in order to distinguish our offering from our competitors,” Duffey said.
Duffey said Cybera will use the proceeds to complete the construction of a new National Data Center in Chicago and expand its sales force into several new markets. The additional sales force will primarily be located in the Midwest to maximoize opportunities in and around the new National Data Center.
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“We feel very confident about our position in the Southeast,” Duffey said. “The Chicago data center gives us an anchor in the Midwest and a great opportunity to grow our customer base into several new markets.”
Cybera provides affordable, fully managed broadband networking services to industries and vertical markets that have been traditionally underserved by large telecommunications companies. In particular, the company is making strides in retail, hospitality, restaurant, financial service and convenience stores segments.
Cybera’s SmartNetwork provides companies with a competitive alternative versus the two most established forms of private data networking: MPLS and Internet virtual private networks.
About Cybera (www.cybera.net)
Founded in February 2001 and based in Nashville, Tenn., Cybera Inc. delivers high-speed, private networking solutions for business needs. By integrating leading edge technology components, Cybera is able to provide the best coverage and maximum bandwidth for all of a client’s unique business requirements by combining ADSL, SDSL, T1, Frame Relay and Ethernet connectivity into a customized, private network that does not traverse the public Internet. This unique network infrastructure allows Cybera to offer the highest guarantees on security, reliability and performance in the industry, yet at pricing significantly less than competing solutions.
About Commerce Capital (www.commercecap.com)
Commerce Capital L.P. (CCLP) is a Small Business Investment Company (SBIC) based in Nashville, Tenn. CCLP makes investments in privately-held growth-stage companies in the form of debt with attached warrants. Typical applications include working capital, management buyouts and acquisitions. For more information, contact Shawn Malleus at (615) 256-0513 or shawn@commercecap.com.
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