ClarITeam raises euro14.4 million in third round financing

Investee Company – ClarITeam

Investee Company Business Type – Specialises in service level management

Type of Financing – Expansion

Equity Providers – Apax Partners, Altamir & Cie, Viventures Partners, IDG Ventures Europe, Dassault Developpement, Innovacom and Sofinnova

Equity Leader (Individual) – N/A

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – euro14.4 million

Total Deal Value – euro14.4 million

Other Advisors – N/A

Comments – ClarITeam, which manages the quality of IT service for critical business processes, has raised euro14.4 million in a third round of financing. The funding was provided by new investors Apax Partners, Altamir & Cie, Viventures Partners and IDG Ventures Europe. Existing investors Dassault Developpement, Innovacom, and Sofinnova also participated.

Founded in May 1999 and headquartered in France, ClarITeam provides businesses with quality of service and performance analysis of their IT systems. The company supplies businesses with a precise view of the performance of each element in the information system, in relation to the business processes of the company. This enables companies to anticipate critical situations, and to justify and plan ahead for IT modifications.

This latest round of financing, which follows the completion of the second round of financing in February 2000, will allow ClarITeam to increase its penetration in the already established European market and will fund the expansion of its activities in the US.

Eddie Misrahi, Senior Partner at Apax Partners commented: “ClarITeam is offering a turn-key solution, adding real value to managing the service levels of major accounts. We are convinced that the independence of its solution vis-à-vis other products in the market gives the company credibility in terms of providing expert advice to it’s customers. This is a truly global project, led by an outstanding management team, that Apax is pleased to accompany in its international development”.