Company Develops Unique Internet Security Monitoring Technology
CARY, N.C. (Sept. 22, 2004) – Covelight Systems has hired technology industry finance
executive Jim Ford to head up the company’s overall financial operations, strategic
financial planning, human resources, facilities and contract administration.
Mr. Ford has more than 15 years experience with financial and operational management
of technology and emerging companies. Prior to joining Covelight as vice president of
finance and administration, he served as senior vice president for finance and
administration at PowerbyHand, Inc., where he managed all financial, human resources
During his tenure at PowerbyHand, Inc., Mr. Ford oversaw revenue growth from
$200,000 to $17 million, the merger of Pinpoint Networks, Inc. with PowerbyHand, LLC
to form PowerbyHand, Inc. in April 2004, and investor financing of approximately $20
“Jim brings enormously valuable experience and industry perspective to our company,”
said Covelight president David Logan. “We’re excited to have him on our team.”
Throughout his industry career, Mr. Ford has provided consulting services to such
emerging technology and biotech companies as Nitronex Corporation, Mindvalve, Inc.
and served as interim chief financial officer of Pilot Therapeutics.
Mr. Ford also served as vice president of finance and operations for OpenSite
Technologies, joining the company during its startup phase and guiding its financial and
operational development. The company was sold to Siebel Systems for $550 million,
two weeks prior to an IPO offering in May 2000.
Mr. Ford was the finance controller for research and development at Ericsson Mobile
Phones and Terminals, where he headed the financial operations for the company’s U.S.
operations of research and development for mobile phones and terminals.
From 1994 to 1997, Mr. Ford was CFO for Ventana Communications, a software
development and computer book publishing company and the first retail distributor of
Netscape Communications browser software. Ventana was subsequently sold to Thomson
Jim holds a masters degree from Florida State University, and received his BA degree
from Gardner-Webb University. Additionally he served three years with the 82nd
Airborne Division at Fort Bragg, NC, and was awarded the Army Commendation Medal.
Covelight Systems delivers application threat management solutions to protect sensitive
enterprise information accessed via web applications. Solutions from Covelight Systems
providing enterprises visibility into information usage detect and quantify internal and
external threats, and measure risk to information assets. Covelight Systems’ solutions
shorten security incident management times from days to minutes, reduce risks to critical
information, and eliminate costs associated with security violations, including loss of
business, damage to reputation, and regulatory fines. The Covelight Systems
management team includes highly successful web infrastructure and security solutions
veterans from enterprises including: Alteon Web Systems (NT); Bay Networks (NT);
Netscreen (JNPR) and Versata (VATA).
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