2014

Optinuity Receives $6 Million in Series B Investment Funding Led by Edison Ventures



    BETHESDA, Md., April 19 /PRNewswire/ -- Optinuity(R), Inc., an
 authority in automating some of the most complex IT environments, today
 announced that the company has closed a $6 million series B round of
 investment. Edison Ventures, a firm leading the Mid-Atlantic region in
 private equity, led the round with participation from the original Series A
 investors, New Enterprise Associates (NEA), Venrock Associates and
 Mid-Atlantic Venture Funds (MAVF). Optinuity has raised a total of $12.5
 million since 2004.
     Optinuity(R) also announced that Joe Allegra, General Partner of Edison
 Ventures, will join Optinuity(R)'s board of directors. Allegra brings
 additional depth to the board with his strong technology, marketing and
 operational background. Allegra was previously a co-founder and CEO of
 Princeton Softech, which he guided to $40 million in revenue. Princeton
 Softech was named twice to the INC. 500 list of fastest growing companies.
     "It's always been our focus to invest in the best management talent and
 the best technology markets," said Joe Allegra, General Partner of Edison
 Ventures. "Scott Stouffer is a proven executive who excels at building high
 growth companies. A talented team, combined with customers who have an
 urgent need to reduce IT complexity and a market-ready automation solution
 that quickly improves operational efficiencies and reduces costs, is
 clearly a recipe for success."
     "An increasing number of companies are looking at automation strategies
 as a way of managing the complexity of their distributed IT applications
 and environments," said Scott Stouffer, CEO of Optinuity(R). "We are
 thrilled to receive such enthusiastic support from Edison Ventures. We
 regard it as recognition of Optinuity(R)'s accomplishments to date and a
 testament to the greenfield of opportunity this market for automation
 solutions represents."
     Optinuity(R) will use the additional capital to build on the success of
 C2O(R), the software at the heart of their IT automation platform, by
 continuing to build out its large-scale customer implementations, grow its
 sales and operations teams and pursue partnering opportunities.
     About Optinuity
     Optinuity(R) provides IT process automation software to bring control,
 scalability, and efficiency to traditionally chaotic and human-intensive
 application support and data center management activities. Optinuity's
 C2O(R) software, the most scalable run book automation (RBA) solution
 available today, is delivering automation benefits for world-class, complex
 datacenter environments within leading telecommunication, financial
 service, and healthcare organizations. Optinuity is headquartered in
 Bethesda, MD. For more information, please visit www.optinuity.com or call
 800-301-7909.
     About Edison Ventures
     Established in 1986, Edison partners with entrepreneurs, service
 providers and other financing sources to build successful companies. Edison
 provides capital and value-added services to expansion stage ($5 to 20
 million revenue), information technology businesses. Initial investments
 range from $4 to 7 million. Edison typically serves as a sole or lead
 investor in financings up to $10 million. In addition to providing
 expansion capital, Edison funds management buyouts, recapitalizations,
 spinouts and secondary stock purchases.
     Edison's 15 investment professionals are based in Lawrenceville, NJ,
 West Chester, PA, and McLean, VA. Industry specialties include application
 software, communications, education, financial services, healthcare &
 pharmaceutical IT and electronics. Edison's successes include ACT!, BTG,
 Gain Capital, Liberty Tax, MathSoft, Netegrity, Princeton Financial,
 Virtual Edge and many other information technology leaders, which have a
 combined market value exceeding $5 billion. Edison currently has $500
 million under management and is actively making new investments.
 www.edisonventure.com
 
 

SOURCE Optinuity(R), Inc.

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