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Tsunami Research Stirs Up $2.3M in Series A Financing
By Alexander Oveis
1/13/2004
St. Louis -- Tsunami Research, a software company focused on hive computing, said it has completed a $2.3-million Series A financing round.

The oversubscribed round consisted solely of individual investors, including Kevin Haar, former senior vice president of field operations at Rational Software, and Mark Dunkel, managing partner at venture capital firm Southeastern Technology Fund. The initial target for the round was $2 million, according to Sam Charrington, vice president of customer development.

Mr. Charrington said the St. Louis-based startup is talking to several potential venture capital investors for the company's next round. The Series B round should close before the end of 2004.

Tsunami Research plans to use the proceeds of the Series A round to strengthen the company's sales and marketing and product development. In February 2003, Tsunami Research launched its flagship product, HiveCreator, software that enables large numbers of dedicated, commodity computers to collectively form a computing environment called a hive. The hive is designed to be a self-organizing, self-maintaining system.

Tsunami Research also announced that it has added to its advisory board. Jerome Cox, senior professor of computer science at Washington University in St. Louis; John Cronin, an industry consultant; and Mr. Haar will be joining the company's advisory board, which includes J. Carter Williams, program manager for Chairman's Innovation Initiative at Boeing, and Mr. Dunkel.

The company has raised a total of $3.6 million. There are plans to expand its staff of 12, but Mr. Charrington would not disclose any details.




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