Technology Horizons Award

XActional, Inc.

XActional, Inc.

Description

XActional provides Enterprise-class security solutions that reduce the risks and costs associated with delivery of Web applications (those information systems delivered via browser-based graphical and text user interfaces) and Web services (system-to-system transactional interfaces) to employees, customers, distribution partners and suppliers.

Reasons for winning the award

With more and more people using Web applications, XActional has positioned itself to meet key online security needs. The company is building a new infrastructure solution that will allow companies to reliably and securely deliver Web applications and Web services to employees, customers, distributors and suppliers. XActional has assembled a strong management team to drive the company forward with its focus on application security issues. Despite the challenging venture capital market, XActional succeeded in closing a $2.5 million Series-A venture financing in May 2003 from The Aurora Funds, Intersouth Partners, and Washington D.C.-based NextPoint Partners.

Quote

"On behalf of the founding team and employees of XActional, I am pleased to receive this recognition from the CED. XActional's startup activities and early achievements over the past year represent what it takes to get an early stage company off the ground. The CED's vision and efforts have been invaluable in putting many entrepreneurs on the path to success." -- Dave Logan, President and Co-Founder

History

Company Timeline

2002 
March

Developed an understanding of the application security issues that Enterprises face through customer/advisor discussions

April Completed the solution requirements and technology feasibility study
May-June Developed the product strategy and business plan
July Company inception and initial investor discussions
Aug-Sep Product validation with customers and advisors
October Aurora incubation
December Technology roadmap, prototype and engineering plan completed
2003 
Jan.-Mar Series-A fundraising
April Investor commitment from Aurora, InterSouth and NextPoint
May Closed $2.5 million Series-A venture financing from The Aurora Funds, Intersouth Partners, and Washington D.C.-based NextPoint Partners

Photo courtesy of BP Studios.

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