Nimsoft Announces $10.3 Million in Venture Capital Funding
Nimsoft, a leading provider of service level management solutions, recently announced that the company has secured $10.3 million in funding from JMI Equity and Northzone Ventures.
Nimsoft, established in 1998 and profitable since its founding, has never received any external investment capital and has grown organically to more than 400 customers. The capital investment will fund an expansion of the company's worldwide sales and marketing outreach and will further develop its product offerings, which help customers manage critical IT resources and application performance. For the past three years, Nimsoft has consistently grown revenues in the high double digits, evidence of market acceptance of Nimsoft's low cost, easy-to-deploy solutions.
Lead investors Peter Arrowsmith of JMI Equity and Torleif Ahlsand of Northzone Ventures will join Nimsoft's board of directors. Both venture capital firms have helped lead growing infrastructure software companies into successful, industry-leading businesses.
�Under the strong leadership of Gary Read and his team, Nimsoft's solutions are the most comprehensive in its class,� said Peter Arrowsmith, general partner of JMI Equity. �NimBUS is bringing the power of enterprise-class, service level management to both medium and large-sized enterprises in addition to building a rapidly expanding business with managed service providers. Overall, our due diligence revealed a customer base that was ecstatic about Nimsoft�s customer service and hailed them as the leader in a new wave of vendors in this market.�
Torleif Ahlsand of Northzone Ventures added, �Nimsoft has built successful operations in both the United States and Europe, which is impressive for this early stage of a growth company. We look forward to working with Nimsoft and helping them further expand into their core markets and building operations in new markets.�
�Our commitment to our customers and our solid end-to-end monitoring and application performance solutions put us in a position of strength for the future,� said Gary Read, president and CEO of Nimsoft. �Joining with JMI Equity and Northzone Ventures reinforces our vision that aligning IT infrastructures to business objectives is tangible and measurable. Customers have confirmed that Nimsoft�s in-depth analysis of the performance of IT infrastructure is a compelling asset for both business and technical evaluations.�
Nimsoft's product, NimBUS, offers a line of real-time, service level management solutions that provide the breadth of large enterprise management solutions without the associated expense and complexity. Its scalable and reliable monitoring capabilities proactively manage critical IT resources, such as servers, applications, databases and network services and devices, in the most demanding of IT environments. Unlike traditional solutions, NimBUS can be deployed within a matter of days and it costs a fraction of traditional solutions.
For more information, please visit: www.nimsoft.com