Monday, June 5, 2006

Integrien Raises $10M

Irvine-based Integrien has raised $10 million in a Series B venture capital funding, the firm is announcing today. The new round of funding comes from Acartha Group, with additional funding from Integrien's existing investor Clearstone Venture Partners. Integrien develops a Manager of Managers (MOM), enterprise software for managing IT software resources. Al Eisaian, CEO and founder of Integrien, told socalTECH Friday that Integrien will use the funding to expand sales and marketing in additional geographies and outside of the US, and to also continue to invest in product development and technologies. The firm's round comes despite a steep drop in interest in enterprise software plays from venture capital firms in recent months. Eisaian told socalTECH that he had six venture capital firms in the running for the round, before going with Acartha. Eisaian also said that the company is growing very rapidly, both in the number of customers, revenues, and partnership, and that customers are telling him that there is a lot of room in enterprise software from innovation, as many customers are not getting what they want from the top players. Integrien counts Baxter Healthcare, Alcatel, and British Telecom as customers. More information »

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