Netkey Unlocks $5.25M

Netkey Inc., a provider of applications and management software, announced today that it has closed its Series C round of funding for $5.25 million.

The syndicate in this round included a new investor, Updata Venture Partner, as well as previous Netkey investors Hudson Ventures, Zero Stage Capital, Fleet Development Ventures, Connecticut Innovations Inc., C&T Access Ventures, and Fourth Wall Ventures.

Companies using Netkey software include BMW, Borders Books and Music, Fidelity Investments, Publix Super Markets and Fleet Bank.

Barry Goldsmith of Updata Venture Partners and Nancy Harrison of Connecticut Innovations Inc. will be joining the Netkey board.

The funding will be used to expand Netkey’s product and services offerings.The company will also continue to build its sales and marketing teams.