Sphera Corporation, the leading provider of hosting automation software announced today that it has raised $15 million in second round financing. TLcom Capital Partners (TLcom) and Jerusalem Venture Partners (JVP) led the round, with the participation of Gemini Israel Funds. Sphera expects to attract additional investments as part of this round of funding. JVP had previously provided Sphera with seed funding in 1999, and Gemini had led Sphera's first round of financing in October 2000. JVP also participated in first round financing, along with Reuters Venture Capital and CSK Venture Capital.

Sphera's flagship product, HostingDirector, automates all aspects of a web hosting operation. By automating the mundane, time-consuming tasks of web hosting providers, it streamlines their operations and significantly reduces their costs.

"This additional financing will allow us to continue implementing our aggressive business plan," said Tamar Naor, Sphera's CEO. "The fact that we were able to raise this money in today's difficult financial market is a tremendous validation of our technology, product, and business model. We are excited about our future and look forward to continuing to make an impact on the industry and to allow our customers and partners to succeed."

Mauro Pretolani, a partner at TLcom, will join Sphera's Board of Directors. "Sphera has an impressive list of strategic partners and leading customers in the US, Europe, and Japan," said Pretolani. "We're confident that this funding will allow Sphera to fully leverage its strategic relationships, expand its sales, and establish itself as the undisputed market leader."

Among Sphera's customers are leading hosting providers around the world, including Dialtone in the US, POPTEL in the UK, and Toshiba in Japan. Sphera has also recently announced a string of important strategic partnerships. Among these is an agreement under which Mitsui has become Sphera's exclusive distributor in Japan.

"HostingDirector dramatically improves web hosting profitability, meeting a pressing customer need, especially in today's difficult environment," said Laurel Bowden, Principal in JVP's London office. "This is an increasingly important need in a very large market, and it's clear to us that Sphera's innovative technology, robust product, and strong management team will allow them to fully capitalize on this potential."