Kennet leads €22 million financing of European SaaS leader NTRglobal

 

NTRglobal is a leading provider of on-demand remote support and IT management solutions

Significant Funding Fuels NTRglobal’s Sales Growth in Europe, the US and Asia

Barcelona (Spain), June 19th, 2008.- NTRglobal, Europe’s largest pure-play vendor of software-as-a-service (SaaS) solutions to enterprise, today announced a €22 million investment round led by Kennet Partners, joined by Atlas Venture and existing investors Debaeque and Elaia Partners.

NTRglobal will use the new funding to fuel sales growth among the Global 2000 and small and midsized businesses (SME) in Europe, North America, the UK, Japan and China, as well as to accelerate the roll-out of a new generation of SaaS IT automation solutions to be launched later this year.

NTRglobal provides enterprise-grade, on-demand solutions for remote support, IT collaboration and IT administration. Enterprises of all sizes use NTRglobal to support employees, customers and partners over the Internet. This allows businesses to reduce IT maintenance costs significantly, and enables service providers to extend their reach and improve customer service.

According to market research firm IDC, clientless remote support software and remote access solutions are among the fastest-growing segments of the infrastructure software market, with CAGRs of 20% and 34% respectively.

Accelerating growth drivers in this market include the increased mobilisation of workforces, the growing popularity of outsourcing IT functions, the proliferation of devices that require remote support and security, and the desire by corporations to reduce their energy consumption and carbon footprint.

“This investment is important to NTRglobal, not only as a vote of confidence in the way we do business, but because the additional capital solidifies our ability to serve corporate and institutional clients around the world,” said Luis Font, CEO and co-founder of NTRglobal.

“We are very excited about the prospects of NTRglobal. The company has established an exceptional market position, and has assembled one of the strongest management teams we have seen,” said Maximilian Bleyleben, Managing Director of Kennet Partners.

“NTRglobal is a classic growth equity investment for Kennet – an established business, fast-growing and capital-efficient, with a global market opportunity. As such it is a prime example of the new breed of top-quality, home-grown technology companies to emerge from Europe.”

As part of the investment, Maximilian Bleyleben from Kennet and Fred Destin from Atlas Venture will join the Board of NTRglobal.

About Kennet Partners

Kennet Partners is a leading international private equity firm that invests in growth companies providing information technology products and business services that leverage technology. Kennet provides expansion capital to businesses that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. With approximately $600 million in funds under management, and working from offices in London and Silicon Valley, the Kennet team actively supports its portfolio companies as they expand their operations internationally. Kennet Partners acts as an advisor to Kennet I, a Jersey-based fund and to Kennet II and Kennet III, both Guernsey-based funds. Kennet Partners is authorised and regulated by the Financial Services Authority.

For more information, visit https://www.kennet.com

About Atlas Venture

Atlas Venture is a leading early-stage international venture capital firm that invests in technology and life sciences businesses in the U.S., Europe and Asia. Since inception in 1980, its partners have helped build over 300 companies in more than 16 different countries. In the past decade, 44 portfolio companies have been acquired and 47 are now public companies with an aggregate market capitalization of over $15 billion. Atlas Venture manages over $2.5 billion in capital through offices in Boston, London, Munich, and Paris.

For more information, visit http://www.atlasventure.com

About NTRglobal

More than 12,000 companies in 60 countries rely on NTRglobal’s enterprise-grade software-as-a-service (SaaS) and self-hosted solutions to make IT simpler™ and more cost-effective to manage the mobile workforce and extended enterprise. NTRglobal’s growing portfolio of enterprise-grade SaaS now includes: NTRadmin™ for secure remote systems management, NTRadmin BOTS™ for simplifying IT task automation and NTRsupport™ for on-demand help desk and instant remote technical support.

SaaS from NTRglobal combines award-winning functionality, proven integration with Salesforce.com and other major CRM systems, point-and-click administration and scalability, global capabilities, customization and robust reporting for 360-degree visibility and compliance management. Offering a superior customer experience with dedicated regional and global support, NTRglobal applications are offered in 15 languages, including those with double-byte characters. All NTRglobal applications are hosted from 11 secure data centers around the world which operate with fail-over capabilities to ensure speed of service and reliability.

More information can be found on the NTRglobal website: http://www.ntrglobal.com

Press Contacts

KENNET PARTNERS
Maximilian Bleyleben, Managing Director +44 (0)20 7839 8020
Su Johnston, PR contact - sjohnston@kennet.com

ATLAS VENTURE
Fred Destin - +44 (0)20 7529 4467 ymechtouf@atlasventure.com

NTR GLOBAL
Heidi Wieland, PR Manager +1 805 722 7413 pr@ntrglobal.com
Luis Font, CEO +34 93 445 07 00