Itineris Raises €10.3M in Funding

itineris-avatarItineris, a Deurle, Belgium-based software solutions company, raised €10.3m in funding.

The round was led by Gimv and Gimv managed Gimv Arkiv Tech Fund II, which jointly invested €7.8m, with participation from existing investors PMV and CEO-founder Edgard Vermeersch, which jointly committed €2.5m.

The company intends to use the funds to accelerate international growth.

Led by Vermeersch, Itineris has developed UMAX, a Microsoft-based software solution managing the meter-to-cash processes at utility companies.
The company, which has and several customers in Europe and four clients under contract in the US, had revenues topping €43m in 2016.



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