PASADENA, Calif. — VantageILM Inc. announced the five individuals who will serve on its newly formed board of directors.

"VantageILM is on a fast-growth trajectory," said Robert Yuan, founder and president of the company. "We're pleased to have this talented group of people on board to help guide and oversee VantageILM as we prepare for our next stage of growth."

The board appointments include:

Robert Yuan: who is the founder and president of VantageILM Inc. He has extensive experience in both banking and technology with expertise in risk management and database programming. In addition to being a former banker and programmer, Yuan also successfully launched and operated Structure Solutions, a business process consulting and technology development firm.

Steve Reich: who serves as senior vice president of sales and marketing for LeisureLink and a member of the Pasadena Angels Investor Network. Reich has led the sales efforts at other successful technology companies, including Digital Insight Corp. and Treasury Services Corp.

Thomas Dudley, D.B.A.: who is is a private investor and serves as a distinguished professor of decision science at Pepperdine University in Malibu, Calif. He is an expert in the application of quantitative methods to management and business problems with special emphasis on strategy formation and implementation. During his 40-year career, Dudley has been involved in a number of start-up companies as participant and adviser. He has also served on the boards of many public and private companies, some of which are listed on NASDAQ.

Henrik Vanderlip: who is chairman of private equity firm Viking Capital Partners and a member of Giant Step Angel Network. With more than 30 years' experience in investment banking, leveraged buyouts and venture capital investments, he has held numerous corporate directorships including Avis, Six Flags, Multicom, Radio One Networks and Outlet Communications.

Dennis Lin: who is a private investor and founder of New Century Group. He has served on a number of boards, including San Gabriel Valley Medical Center, Chinese American Education Association and the Chinese Club of San Marino. In addition, he is a former member of the City of San Marino's General Plan Steering Committee. He currently serves on the board of Pacific Alliance Bank.

In other recent news, VantageILM said it has completed an initial round with $1.3 million in venture capital financing

The round was led by Giant Step Angel Network. Other investors included Pasadena Angels, Stonnington Capital Partners LP and a number of private investors. Funds will be used primarily for research and development of products for a future version of the VantageILM platform, executives explained.

"VantageILM is exactly what we look for in a company," said John Wander, of Giant Step Angel Network. "The management team has domain expertise, and their technology is very disruptive, which allows them to profitably serve their customers and capture underserved portions of the market."

DuWayne Peterson, chairman of the Pasadena Angels, agrees that VantageILM shows promise.

He said, "We were very impressed with the outstanding combination of industry expertise and technological competence that the VantageILM team possessed. This coupled with their next-generation management system for lenders gave us a strong belief that they would become one of the gems in our investment portfolio."