Itineris, a Deurle, Belgium-based provider of operational software and services for the utilities sector, raised $10m in funding.
The round was led by Gimv and Gimv Arkiv Tech Fund II, which collectively invested $7.5m with participation from Itineris CEO and founder Edgard Vermeersch and Flemish investor PMV each contributed an additional $1.25m.
The company, has received investments of $25m to date, intends to use the funds for product innovation and capabilities expansion primarily in its core software.
Itineris provides the UMAX® customer information system (CIS) software, which is used to manage a utility company’s customer lifecycle. The company is a Microsoft Gold Partner and UMAX is fully integrated with Microsoft ERP platform Dynamics AX.
In the USA, the company is located in Marietta, GA, and led by president John Beddingfield. It has more than 250 employees worldwide.
Itineris had revenues of $39.8m in 2014.