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Netuitive lands $8 million in funding
Netuitive has raised $8 million in venture capital to expand the software company's sales and marketing operations.

The software monitors a business's information technology operations and uses algorithms to alert managers when a network or hardware is functioning outside a normal range.

New investor MK Capital led the round, which included Columbia Capital of Alexandria and all other previous investors. The Reston company has now raised $27.5 million in four rounds.

Netuitive wants to bolster its 40-person staff by filling 15 open positions as quickly as possible and adding another 15 employees by the end of the year.

The funds also will go toward the company's plans to open offices in San Francisco, Dallas and London this year. Netuitive recently added Atlanta and Chicago sales offices to existing locations in Boston and New York.

"We really have spent the last couple years and particularly this last year building the foundation for our business," says Daniel Heimlich, Netuitive's vice president of marketing. "We've created what we believe is a formula for success, and now we've got to scale it up."

News from the Washington Business Journal.

Published Friday, March 30, 2007 6:01 AM by David Marshall
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