Enigmatec raises $14m; plans Scottish technology centre

Enigmatec raises $14m; plans Scottish technology centre

UK software house Enigmatec Corporation has raised $14 million in its latest funding round, which it will use to establish a technology facility in Scotland and expand its international operations.

The latest funding round included new investors Noble Venture Finance and Scottish Enterprise - an regional agency funded by governing body, the Scottish Executive.

Kevin Lomax - current Enigmatec executive chairman and former chairman of Misys - also participated in the round alongside existing backers Amadeus Capital Partners, Pentech Ventures and Herald Ventures.

Peter O'Neill, CEO, Enigmatec, says: "This financing allows us to scale up our sales and marketing operations and take full advantage of the exceptional engineering talent in Scotland."

In addition to establishing the Scottish centre, the vendor will use the new capital to finance its push into the US market. Enigmatec says it has recently boosted its presence in the region and is currently targeting US banks and telcos.

Enigmatec was founded in London in April 2002 and provides data centre automation technology. The firm's flagship product, Execution Management System (EMS), is a cross-platform policy-based automation system.

Lomax joined Enigmatec as executive chairman in August 2007 after he participated in the company's £6.25 million series c funding found.

The firm's CEO Indra Mohan stepped down after Lomax came on board and was replaced by O'Neill, who has previously worked for Fortent, Hewlett-Packard, Sequent and KPMG.

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