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AlterPoint Secures $7.5 Million in Series C Funding |
AlterPoint, Inc., a leader in Network Change and Configuration Management (NCCM) solutions, has 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," John said.
In addition to the new funding, AlterPoint has added to its executive team April Downing as Chief Financial Officer. April 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," Scott said.
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