Adaptivity Secures Additional $6.0 Million in Funding to Accelerate Product Development and Marketing

Strategic Insights -

Karachi, Pakistan-based Adaptivity, The IT Blueprint Company, has received an additional $6.0 million in venture capital financing from Intel Capital, Intersouth Partners, and Noro-Moseley Partners, building upon the $10 million investment in October 2010. This funding will be utilized to expedite product development and scale sales and marketing infrastructure to meet growing demand for Adaptivity's Blueprint4IT Lifecycle SuiteTM software products. Lee Congdon, Chief Information Officer of Red Hat, has joined Adaptivity's Board of Directors, and Robert MacFarlane, former VP and Director of Technology Asset Management at Wells Fargo, has been appointed as the Company's new Chief Technology Officer.

Key Takeaways:

  • Adaptivity has received an additional $6.0 million in funding from Intel Capital, Intersouth Partners, and Noro-Moseley Partners, bringing the total investment to $16.0 million.
  • The new funding will be used to accelerate product development and scale sales and marketing infrastructure to support growing market demand.
  • Lee Congdon, Chief Information Officer of Red Hat, has joined Adaptivity's Board of Directors, bringing industry experience and a track record of success.
  • Robert MacFarlane, former VP and Director of Technology Asset Management at Wells Fargo, has been appointed as Adaptivity's new Chief Technology Officer, responsible for leading Product Management efforts and ensuring innovative delivery of software and services.
  • The Blueprint4IT Lifecycle SuiteTM software products will continue to deliver a repeatable, scalable, fit-for-purpose infrastructure planning and design process that aligns IT to the business.

Statistics:

  • $6.0 million: additional funding received by Adaptivity from Intel Capital, Intersouth Partners, and Noro-Moseley Partners.
  • $10 million: initial investment from the same investors in October 2010.
  • 20 years: Robert MacFarlane's experience in IT product management and delivery with leading IT organizations.

Sources:

  • "Karachi: Adaptivity, The IT Blueprint Company." Adaptivity, The IT Blueprint Company, July 29, 2011.