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September 06, 2007
Netviewer Raises €9M To Meet Market Demand
Six year old Netviewer, whose online collaboration and remote desktop access platform is in demand, has raised €9M from Invision Private Equity, an investor since 2005, along with TVM Capital out of Münich.
With this round it has raised about €13M in the past two years. Until that point it was self-financed and actually grew during the downturn.
The Karlsruhe-based startup now employs 230 people, up from 80 when this reporter wrote about the company back 2005.
Demand is strong, says Andreas Schweinbenz, CEO, and the new money will be invested to support that, as well as develop more applications for its platform.
The startup’s flagship product competes head to head with the likes of Citrix GoToMeeting, WebEx MeetMeNow, Adobe Connect, and Microsoft Office Live Meeting (according to analysis done by Gartner and other market research firms).
And yet despite the competition it is gaining ground, adding 500 new customers a month on an installed base of 10,500 customers.
Recent news releases suggests that Netviewer is popular with the IT support desk at software and financial institutions because it runs over the Internet and is relatively inexpensive, enabling simultaneous viewing of not one, or two, but several frequently used enterprise applications.
Netviewer has used its earlier rounds of finance to go international and now has subsidiaries in the UK, Switzerland, France, Austria, The Netherlands, and US.
Posted on September 6, 2007 05:52 PM | Posted to News And Updates | Permalink
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