Troux Secures $10 Million to Extend Growth in New Geographies and Channels
Company building on recent momentum across multiple marketsStrategic IT Planning and Control software, today announced that it has secured a $10 million investment to further expand reach into new geographies and extend recent sales momentum. The investment has been made by Austin Ventures, Greylock Partners and a consortium of Scandinavian investors.
The investment follows a period of record revenues and growth for Troux. Recent product adoption has been especially successful in new markets and examples include Global 2000 customers and partners in the Scandinavia, Central Europe and Asia markets. Existing markets such as the US commercial market, US federal government market and German markets continue to show strong demand as well.
“Despite the global recession, we have made significant progress in our expansion plans, proving our ability to win business and drive customer success in major organizations around the globe,” said David Hood, chief executive officer of Troux. “Our investments in new channels and technology partners have started to pay dividends and as economies start to grow again, it’s now time to invest further to scale our market opportunity.”
Troux board member and former CEO of Tivoli, Jan Lindelow, commented, “Troux has a proven product and go-to-market strategy in a $1 billion market. It’s an exciting time for the company.”
Chris Pacitti, general partner at Austin Ventures, a board member and investor in Troux states, “We see an opportunity for the company to drive further growth and have asked the management team to execute on an accelerated expansion plan.”
Troux’s software enables large organizations to better plan and execute major business transformations, enabling strategic cost reductions and improving business agility.
Troux is also the only vendor to hold a leadership position in major analyst product comparisons of both Enterprise Architecture and IT Planning Software.
Troux provides CIOs with innovative software to drive urgent cost restructuring and business changes. With Troux, CIOs and their teams identify where IT spending and programs are redundant or out-of-step with business strategy, and can plan and manage necessary changes, with live status information and guidance to all relevant employees and executives.
Troux’s unique approach results in immediate cost savings as well as step changes to ongoing IT efficiency, business response, and risk reduction. Troux customers and partners are large Global 2000 enterprises and government agencies including Accenture, AstraZeneca, Bayer, Barclays Bank, the US Department of Labor, Fiducia, the US Department of Health and Human Services, GMAC, Vattenfall and Vodafone.
Troux Technologies is the acknowledged leader in the Strategic IT Planning and Control software market.
Communications Insight, LLC
Vice President, Worldwide Marketing