Troux Technologies, Inc., a Strategic IT Planning and Control software provider, has secured a $10m investment made by Austin Ventures, Greylock Partners and a consortium of Scandinavian investors.
Proceeds will be used to further expand reach into new geographies and extend recent sales momentum.
The investment follows a period of record revenues and growth for Austin, Texas-based Troux.
Troux’s software enables large organizations to better plan and execute major business transformations, enabling strategic cost reductions and improving business agility.
According to an official statement, the investment follows a period of record revenues and growth for Troux. Recent product adoption has been especially successful in new markets 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.
David Hood, chief executive officer of Troux, was reported as saying: “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.
“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”.