The trend of investing in management software makers continues in 2007 as Nimsoft, a maker of service-level management software, grabs $10.3 million in venture capital funding.
The software maker, established in 1998 and headquartered in Redwood City, Calif., reports it has been profitable since its creation and has some 400 customers worldwide. Nimsoft is headed up by President and CEO Gary Read, a 20-year veteran with experience at Converse Software (which in 2004 merged with Nimbus Software to form Nimsoft), BMC and Riversoft, prior to its acquisition by Micromuse, now part of IBM's Tivoli software group. The company this week is set to announce its first venture capital funding, $10.3 million from JMI Equity and Northzone Ventures.
"Joining with JMI Equity and Northzone Ventures reinforces our vision that aligning IT infrastructures to business objectives is tangible and measurable," Read said in a company press release.
Nimsoft develops NimBUS software, which the company says provides enterprise network and systems managers with tools to measure service levels across disparate IT elements, including the impact such performance has on business applications and services.
Competing with the likes of industry leaders BMC, CA, HP and IBM, as well as a slew of start-ups looking to redefine the management market, Nimsoft plans to use the funding to enhance its sales, marketing and product development efforts in the U.S. and Europe (Nimbus Software was based in Norway). The company says its entry price of around $10,000 for smaller customers helps it compete with other vendors in the market.
Nimsoft lists companies such as Coldwater Creek, Wells Fargo and New Century Financial as customers.
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