NEXThink Lands $5.5 Million Funding
NEXThink, whose real-time user-centric analytics make it possible for the Global 5000 and cloud service providers to rethink and transform their IT infrastructure, today announced that it has closed $5.5 million in Series C funding, bringing the total capital raised by the company to $13.1 million.
The financing round of Nexthink - led by the company’s current investors, Auriga Partners and Venture Incubator, and new investor Mannai Corporation - will be used to expand its global presence and to develop new products that accelerate its business around cloud computing and mobility.
“We believe that in a world of dynamic, multi-platform infrastructure and empowered employees, it is extremely important to provide a global real-time view of IT systems from the user’s point of view,” said Pedro Bados, CEO of NEXThink. “We are building a world class team to create and bring to market the most powerful set of solutions to deal with the next generation of IT infrastructures - physical, virtual and mobile - that truly change the game.”
Demand for NEXThink’s solution is strong. NEXThink grew its customer base by 50 percent in Q4 2011 to 300 customers spanning 12 countries, representing more than 1.5 million endpoints. Customers include Bunge, French Government, Manpower, Qatar Telecom, Swisscom, Toyota and one of the world’s largest providers of luxury watches.
NEXThink also announced that it has opened its US headquarters in Alpine, Utah and will aggressively expand across the US market. Industry veteran Chris Lundell has been appointed President of Americas. Previously, he served as CEO of Corda Technology and Vice President and General Manager of LANDesk Software and held various sales and marketing leadership roles during his 13-year career at Novell.
“I’m excited about the future of NEXThink, a fast growing, innovative and dynamic company that will expand rapidly in North America. In Europe, NEXThink has been successfully solving the very same problems that are facing US companies by providing a 360 degree view of their corporate end point infrastructure,” said Chris Lundell, NEXThink President of Americas. “Global alliances already established with companies like IBM and Unisys will be extended to the US quickly.”
Patrick Starck, Former Chairman of CA Technologies EMEA, and Alekh Grewal, Chief Executive Officer of Mannai Corporation, will join NEXThink’s board.
“NEXThink has a unique infrastructure monitoring technology and a very innovative team. I’m excited to join this fast growing venture and to work closely with them,” said Patrick Starck, Former Chairman CA Technologies EMEA and NEXThink Board Member.
“We were impressed with the NEXThink team and saw that they had created a truly innovative and disruptive product which is why we became their first VAR in the Middle East a couple of years ago,” said Alekh Grewal, Mannai Corporation Chief Executive Officer and NEXThink Board Member. “We’ve had a successful relationship ever since so when the opportunity arose to invest, we did to solidify and strengthen our commitment to NEXThink.”
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Swiss start-up turns to the Nasdaq
Last year Auris Medical raised more than CHF47 million in venture capital for further growth. This was the largest round of financing in Switzerland in 2013. The company has two drugs in development: an injection for tinnitus and a drug for hearing loss in the inner ear. The tinnitus medication has already started the third and most expensive stage of development, the phase III trial. The Basel company, which has its headquarters in Zug, intends to raise the necessary capital on the Nasdaq: the IPO should bring Auris a total of $95 million in new money.