Bridgescale Partners, a California-based investment firm providing equity to high growth information technology companies and Toronto-based BlueCat Networks, a leading provider of enterprise-class IP Address Management (IPAM) platforms, announced today that Bridgescale Partners led a U.S. $11 million minority investment in BlueCat Networks. Having just completed a record sales quarter, BlueCat Networks will use its first institutional venture capital round to further enhance its award-winning product line and continue the rapid expansion of its global distribution network.
“As businesses of all sizes continue to populate their networks with many different devices, the demand for software to manage the growing number of associated IP addresses will naturally increase,” said Robert Chaplinsky, Managing Director, Bridgescale Partners. “As the leading global provider of IPAM solutions which has already sold thousands of licenses to enterprises and ISP’s, BlueCat is ideally positioned to meet the increase in global demand for IPAM,” Chaplinsky continued. “We are pleased to make BlueCat our first investment in Canada as it complements our existing portfolio of category-leading technology companies, and are confident we can help BlueCat continue its stellar growth trajectory.”
Recognizing network administrators are now facing a variety of external and internal pressures including the introduction of VoIP, wireless devices (including RFID tags), IT virtualization, and the complexity IPv6 brings to the network, BlueCat Networks provides automated solutions that simplify network processes while still enabling enterprises to take advantage of the latest technologies.
“When looking at potential investors, Bridgescale stood out based on its strong Silicon Valley relationships and deep investment expertise,” said Michael Hyatt, CEO and co-founder of BlueCat Networks. “We have been working with Bridgescale for a short while, and in that time their investment team has delivered significant business value – reinforcing the fact that Bridgescale is the right investment partner to help enhance our position as a leading global networking software provider,” Hyatt continued. “Having just completed a record sales quarter, we are confident that our work with Bridgescale will help further drive our rapid expansion worldwide.”
Bridgescale, which has announced plans to expand into Canada, has significant experience working with Canadian entrepreneurs and companies and is currently an investor in Cortina, a semiconductor company with a large development center in Ottawa and Proofpoint, which also has a presence in Toronto based on its acquisition of Fortiva.