Barcelona, 13 April 2015 – ITM Platform, a Project & Portfolio Management company – www.itmplatform.com – announces the closing of its first funding round, fully covered by Inveready.
ITM Platform has developed a solution to manage projects in the cloud that integrates intuitive features that are only found in more complex and expensive solutions in the market.
The solution enables medium and large enterprises access to a more flexible tool, with autonomous deployment and with greater ease of installation than competitors such as Clarity PPM, Oracle Primavera or Microsoft EVM.
ITM Platform has multinationals among its customers such as Repsol, Lafarge or Eutelsat Comunications.
“ITM Platform has an innovative solution due to its cloud architecture, usability and integration of all requirements for PPM solutions, offering an exceptional user price in the market (SaaS)” explains Daniel Piret, CEO and founder of ITM Platform. Referring to Inveready, Piret adds: “The investment from Inveready will help us to accelerate our international expansion, especially in Latin America where most of our target customers are. To do this, the company is enhancing its online marketing and creating a strong network of partners that provide practical experience to the solution.”
This financing round will enable ITM Platform become a reference product in project management, portfolio and collaborative work.
Ignacio Fonts, Managing Partner at Inveready, notes that “ITM Platform fits perfectly on the investment thesis of Inveready because of its market potential (over 2 Bn $) and the fact that its technology has the potential to disrupt this market through the combination of cost and ease of use”. This investment is the seventh of the new ICT fund launched by Inveready under the name Inveready First Capital II.
Inveready Technology Investment Group (www.inveready.com) is the first Spanish Investment Group focusing on innovative companies in their early stages of life and with financial needs in their seed stage, between 1 and 4 million Euros. Inveready has offices in Barcelona, Madrid and San Francisco, helping companies to address the internationalization of its solutions.
Inveready has 5 investment vehicles with nearly 70 million Euros AUM, 120 shareholders, and more than 40 portfolio companies such as Adman, Agile Contents, Mobincube, Palo Biofarma, Sweetspot or Catchoom. Inveready recently announced divestment of its portfolio companies Password Bank, 3Scale Networks, Indisys, Lucierna and Masmovil.
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