Illumix announces $2 million series A Funding Round

London, England, July 22nd 2008
Illumix Software announces today that it has raised $2M in a Series A round of funding. Lead funding is provided by NorthStar Equity Investors and the round includes private investors. NorthStar Equity Investors, which is based in Newcastle, is a venture capital firm that specialises in early stage high-growth opportunities.

Alasdair Greig, Investment Manager for NorthStar’s Co-Investment Fund said:

Our mission is to maximise growth and returns for entrepreneurs and investors by building high quality innovative businesses. We see Illumix Software as one of those, and will help them grow, not just in the UK, but also in world markets. We are backing the management team and the technology proposition, which allows companies to visualise the business value of their IT assets and to streamline the IT process. I am particularly pleased that they have decided to establish their development centre in Newcastle, which is already generating exciting new jobs in the region.

Steve Hill, CEO of Illumix Software said:

“I am particularly pleased to be working with Alasdair again. We worked together when he was at The Cambridge Gateway Fund, prior to his moving to the North East. He is one of those rare venture capitalists who challenges and questions company strategy from a basis of deep knowledge of the industry and the technology. He is a very welcome addition to our advisory board.”

The investment will be used to accelerate product development, and to extend the range of sales and marketing activities. The primary focus is on maximising the business value that customers can extract from Illumix’ products and services.

About Illumix

Illumix Software was founded in 2007 with the goal of defining a new way to manage and maintain IT infrastructure, by focusing on the business value of IT. This enables organisations to make informed decisions on IT strategy, investment and optimisation. The majority of Illumix’ customers are multinational companies, primarily in Financial Services, who operate complex networks with a wide variety of hardware, software and network infrastructure.

Illumix is headquartered in the UK, and will continue to develop its international presence.