Pindar Systems raises #2.4 million

Investee Company – Pindar Systems (UK/US)

Investee Company Business Type – Develops software to enable manage product content

Type of Financing – Expansion

Equity Providers – Granville Baird Capital Partners and The Pindar Group

Equity Leader (Individual) – Paul Merone, Granville Baird Capital Partners

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £2.4 million, euro3.9 million

Total Deal Value – £2.4 million, euro3.9 million

Other Advisors – N/KComments – Pindar Systems, the UK- and US-based developer of product management software, has received £2.4 million financing from two investors to take its total financing to £7.8 million since it diversified and became an independent entity earlier in the year.

Paul O’Sullivan, CEO of Pindar Systems, commented on the future aims of the company, citing heavy investment in research and development during the past year since it became a separate entity from The Pindar Group. The company is planning to use the new round of funding to introduce a new technology platform and extend its marketing and sales efforts globally. “This funding will support our growth as we continue to add the resources needed to fully realise our market potential,” said O’Sullivan.

Paul Merone of Granville Baird said: “Pindar Systems has worked hard to achieve its position as the market leader. It offers the most scalable catalogue commerce technology platform. All of this adds up to increased sales and improved market position for Pindar Systems customers.”

The Pindar Group, which was an investor in both the initial and present rounds of funding, brings to Pindar Systems a successful track record of building businesses. Andrew Pindar, group chairman, said “We are pleased to extend our financial support and ongoing investment in the business.”