Vhayu Closes $10.25M Series C Round of Funding

Silicon Valley Bank and Menlo Ventures Fund Drive for Global Distribution of Real-time Market Data Analysis Platform

Targets Multi-National Customer Demands to Handle Mounting Data Volumes Due to Market Structure Changes

LOS GATOS, CA & NEW YORK, NY, March 17, 2005 – Vhayu Technologies Corp., the leading provider of real-time enterprise software solutions that capture and analyze massive amounts of real-time and historical trade data for the world’s leading financial institutions, announced today the closing of a $10.25 million Series C round of funding. The round includes new investor Silicon Valley Bank and existing investor Menlo Ventures. The additional capital will be used to drive the global distribution of the Vhayu Velocity™ market data analysis platform to brokers, hedge funds and asset managers who have a critical need for technology that can support the recent shift towards high-frequency program and algorithmic trading.

"We have created unique patented technology to provide customers with a distinct competitive advantage when they use our real-time, market-data analysis software," said Jeff Hudson, CEO at Vhayu. "Our customers are the leading world-wide financial services institutions and they are asking us to support their multi-asset class operations on a global basis. We need to increase our investments in Europe and Asia to support the demand we are seeing. Additionally, we are increasing our investment in new product development, again driven by customer demand."

Vhayu's technology platform enables investment banks, prime brokers, hedge funds, online discount brokers and alternative-equity and fixed-income trading systems to develop applications that require a high-frequency data store for pre-trade analysis, market sweeping for best execution, real-time compliance, storing and analyzing the entire depth-of-book, building and testing complex algorithmic trading strategies and transaction cost analysis (TCA).

"We are very impressed with the traction the company has gained in the financial services market. In discussions with Vhayu customers, we confirmed that there is tremendous value in Vhayu Velocity and Vhayu has a significant lead in the market," said Arvind Purushotham, managing director at Menlo Ventures.

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