RESTON, VA -- (Marketwire) -- 06/14/10 -- Netuitive, Inc., the leading provider of self-learning performance management software, 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 and strengthen the company's already-established leadership position.
"Netuitive is poised to become a new standard in IT performance management," said In Sik Rhee, General Partner at Rembrandt Venture Partners and previously co-founder of data center automation pioneer Opsware. "They have an amazing technology advantage, and are applying it towards winning deals over much larger competitors. Their customer roster is also very impressive, and this investment will help Netuitive accelerate their ability to reach more customers in more markets."
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. Netuitive also won the CODiE Award for "Best Systems Management Solution" for the second consecutive year and received the "Best of VMworld" Award for virtualization management.
"We're in a very unique position right now," said Nicola Sanna, Netuitive's president and CEO. "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."
Netuitive is the leading provider of self-learning performance management software. Based on nine patented technologies resulting from 20 years of academic and commercial research and development, Netuitive products replace human guesswork with automated mathematics and analysis to improve performance of systems, business services and virtual infrastructures. Hundreds of customers such as BlueCross BlueShield, AT&T, Wells Fargo, and the U.S. Air Force have discovered that Netuitive software leverages existing monitoring systems and delivers return on investment in as little as two months. Netuitive has received many industry accolades, including the 2010 CODiE Award for "Best Systems Management Solution" and 2009 "Best of VMworld" Award for Virtualization Management. For more information, visit www.netuitive.com.
About Rembrandt Venture Partners
Rembrandt Venture Partners (www.rembrandtvc.com) is a Silicon Valley based venture capital firm established in 2004 to provide private equity capital to early-stage technology companies. Rembrandt invests in a variety of sectors including Internet infrastructure, software, communications, wireless and new media convergence.
About MK Capital
MK Capital (www.MKCapital.com) is an established venture capital firm with offices in Chicago and Los Angeles. The Firm offers multi-stage growth equity and venture capital to companies in the following sectors: Digital Media, Data Center Automation, Software and Education Technology. As a member of the MK Capital portfolio, companies have access to an experienced partner with extensive operating experience. MK Capital plays a significant role with its portfolio companies, collaborating on strategy, operations, and technology as active members of the companies' boards, leveraging insights from a strong understanding of industry sectors to help their portfolio companies grow.