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AlterPoint Secures $7.5 Million in Series C Funding
November 9th, 2006 No comments
AlterPoint, Inc., the leader in intelligent Network Change and Configuration Management solutions, recently announced that it has completed a $7.5 Million Series C financing round from existing investors Austin Ventures, JK&B Capital and Palomar Ventures, bringing the total equity investment to $39 Million. AlterPoint plans to use the additional funds to expand its product portfolio and increase its market coverage.
“We’re excited about the growth AlterPoint has experienced in the last few years,” said John Thornton, general partner of Austin Ventures. “With this round of funding and the recent addition of several new executives, we feel the company is poised to propel their status as a major player in the network management industry.”
In addition to the new funding, AlterPoint has extended its Austin-based executive team with the addition of April Downing as chief financial officer. Downing joins AlterPoint after six years at broadband management software provider Motive, Inc., where she served in various posts, most recently as Chief Accounting Officer and acting CFO. As CFO for AlterPoint, Downing will assume responsibility for the financial activities and performance of the company.
“We couldn’t be happier that April has joined the AlterPoint team. Her talent and skills in both corporate finance and business leadership will be a huge asset as we execute on our growth strategy over the coming years,” said Scott Harmon, CEO of AlterPoint. “In addition, this round of funding is excellent validation of the confidence our investors have in AlterPoint and the growth potential of the network management market.”
AlterPoint develops intelligent network change and configuration management solutions that have pioneered the evolution of network management. Companies worldwide rely on the intelligence and automation provided by AlterPoint’s award-winning product, DeviceAuthority, to proactively manage configuration, change, compliance and security across their multi-vendor network to maximize the performance and availability of their IT infrastructure. Founded in 2001, AlterPoint is headquartered in Austin, Texas, with offices in Europe and Asia.
For more information, please visit www.alterpoint.com
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