Virtualization Technology News and Information
BigTime Software Raises Additional Series A Financing

BigTime Software, Inc., a leading provider of cloud-based productivity tools for growing professional services firms, today announced that Runa Capital Fund I, L.P., a global venture capital firm with offices in Moscow, Russia, and Berlin, Germany, has invested additional capital in BigTime’s Series A round of funding. BigTime will use the proceeds to fuel its sales channel growth and expand its marketing efforts.   

Runa Capital Fund I, L.P., is a more than $70 million early stage venture capital fund launched in August 2010 with the goal of investing in rapid growth tech sectors including cloud computing, machine learning, virtualization, and mobile and internet applications. Runa Capital is managed by a team of successful entrepreneurs with broad geographical and cross-industry experience, and an excellent track record in technology investments.

“BigTime is an ideal investment to complement our portfolio of cutting edge, innovative businesses with unique high-potential business models,” said Serguei Beloussov, Ph.D., senior founding partner of Runa Capital and founder of more than 10 IT companies including Rolsen, Acronis, and Parallels. “Their product offering, strategic partnerships, world-class Advisory Board, and pioneering multichannel approach to sales set them far above their competition.”

“Runa's partners have built large-scale technology companies from the ground up, so their interest in BigTime at this stage is a real validation of our overall product and licensing strategy,” said Brian Saunders, BigTime’s founder and CEO. “We're excited about the expertise they bring to the table as well as the international exposure this investment provides.”

This investment brings the total Series A financing to $2.7 million. The initial subscribers to BigTime’s Series A round included LTC Partners, Geneva Venture Investment Management, Hickory Grove, LLC, and Howell Capital, LLC. Several of the investors are also members of BigTime’s Advisory Board, made up of well-know technology pioneers and entrepreneurs.

Published Tuesday, October 04, 2011 6:03 AM by David Marshall
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