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Announcement
Disappearing Inc. Closes Third Round of Funding from Kleiner Perkins Caufield & Byers, Mitsui & Co., Red Rock Ventures, and JPMorgan Partners
Company's Premier Service, Disappearing Email, Enables Fortune 1000 Companies to Implement Email Management Policies
SAN FRANCISCO, CA (March 6, 2001)Disappearing Inc., a provider of corporate policy management systems, announced today that the company has closed its third round of funding with Mitsui & Co. (USA) Inc., JPMorgan Partners, and Kleiner Perkins Caufield & Byers (KPCB), the technology industry's foremost venture capital firm.
Disappearing Inc. addresses the growing need on the part of corporations to implement policies that limit liability and protect confidential information. The company's primary service, Disappearing Email, allows users to write their email in the digital equivalent of disappearing ink. For enterprises, the technology ensures that all copies of protected messages expire according to the company's designated email retention policy. Unlike other solutions, Disappearing Email works in standard email clients and requires no change to the way users read, write, or send their messages.
"We hear again and again how companies have spent millions of dollars litigating and settling lawsuits arising out of onerous email discovery procedures," said Mike Burkland, Chairman, President and CEO of Disappearing Inc. "The only way companies can reasonably continue to use email for everyday business matters is to apply policies that limit the lifetime of old messages."
Although many companies have adopted retention policies to manage and delete their emails, these policies cannot be enforced and are widely ignored. Disappearing Email automates the process of message deletion, and ensures that all copies are automatically deleted in accordance with the company's retention policies.
The new funding will enable the company to expand its sales, marketing, and product development efforts. "We've developed an incredibly valuable technology companies can use to protect themselves from unwanted liability," Burkland added. "Now, we are focused on deploying our technology, and our investors will bring the experience and energy needed to accelerate our plans to provide policy solutions to Fortune 1000 companies."
"Since our initial investment in December 1999, Disappearing Inc. has continued to produce technological innovations and to lead the market for email policy systems," said Doug Mackenzie, the KPCB General Partner serving on Disappearing Inc.'s Board of Directors. "With the addition of our new strategic investors, and the recent additions to the company's product line, Disappearing Inc. is positioned to address the e-policy requirements of Fortune 1000 companies."
Enterprise versions of Disappearing Email for Microsoft Outlook are designed to work with a company's existing email systems, and can be obtained by contacting Disappearing Inc. at 1-877-SAFE-MAIL. A single-user version of Disappearing Email for Microsoft Outlook is now available free of charge on the Microsoft Office Update (http://www.officeupdate.com) and Disappearing Inc. (http://www.disappearing.com) Web sites, and is compatible with both Outlook 98 and Outlook 2000.
About Kleiner Perkins Caufield & Byers
Formed in 1972 by Eugene Kleiner and Tom Perkins, Kleiner Perkins was created with the goal of providing entrepreneurs with value-added resources as well as capital investments. The Kleiner Perkins partnerships have sponsored some of the U.S.'s most innovative and rapidly growing new ventures. These businesses have created more than 190,000 jobs, more than $100 billion in revenue and more than $180 billion in market capitalization. Representative investments include: @Home Network, Amazon.com, America Online, CBS SportsLine and Netscape Communications. Information about KPCB is available on the Web at http://www.kpcb.com.
About Mitsui & Co. (USA) Inc. Private Equity Group
The Mitsui USA Private Equity Group helps companies in the U.S. grow in value. The Private Equity Group draws upon Mitsui's long and distinguished investment history and is part of Mitsui's global Private Equity Group. Mitsui was the first Japanese trading company to establish a separate venture firm here in the U.S. More information about the Mitsui USA Private Equity Group is at http://www.mitsuipe.com.
About Red Rock Ventures
Red Rock Ventures is an early-stage venture capital firm focused on business-to-business E-commerce and Internet software. Founded in 1997 in Palo Alto, California, Red Rock has $130 million under management. For further corporate information, visit Red Rock's World Wide Web site at http://www.redrockventures.com. For press information, contact Diboll & Associates at 415-351-2043.
About JPMorgan Partners
J.P. Morgan Partners ("JPMP") is a global private equity organization that provides equity and mezzanine capital financing to private and public companies. JPMP's primary limited partner is J.P. Morgan Chase & Co., one of the nation's largest banking holding companies with approximately $660 billion in assets.
Press Contact
Grace Lee
Antenna Group, Inc. for Disappearing Inc.
415.977.1929
grace@antennapr.com