Netuitive has secured an additional $10 Million in equity financing. Led by MK Capital and Rembrandt Venture Partners, the proceeds will be used to expand Netuitive’s global sales and marketing operations to accelerate revenue growth.
In Sik Rhee, General Partner at Rembrandt Venture Partners and previously co-founder of data center automation pioneer Opsware, is joining the company’s board.
With Rhee as a new board member, Netuitive is now supported by two of the same backers from the industry’s largest and most recent enterprise software ventures: Opsware was acquired by HP for $1.6 billion in 2007; and MK Capital was a lead investor in Bladelogic, acquired by BMC for $800 million, shortly after their IPO in 2007.
The new investment follows a record year for Netuitive, marked by 100% year-over-year growth, strong profits and a customer list that topped 300 customers — including 7 of the 10 largest banks.
Nicola Sanna, Netuitive’s president and CEO:
“We’re in a very unique position right now. The explosion of virtualization and growing interest in cloud computing is driving the demand for our self-learning performance management software because organizations need control over these very complex environments. The new investment from MK Capital and Rembrandt Venture Partners is enabling us to seize a giant opportunity.”
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