Littleton's BTI Systems Raises $10M
Software and networking firm BTI Systems said it has raised $10 million in its latest funding round, led by Bain Capital Ventures.
Ottawa, Ontario-based BTI, whose U.S. headquarters is in Littleton, said the Series C funding round included existing investors BDC, Covington Capital and Growthworks. The company said it has raised more than $33 million since the first quarter of 2011 and credited its growth to increased demand from content and service providers.
BTI has more than 350 customers worldwide and is expanding its portfolio. The company also announced today the launch of its BTI Intelligent Cloud Connect, which enables content and service providers to overcome system overloads that result due to growth of network traffic from increased demand for cloud services. BTI said it will use its newest funding to scale operations and accelerate the delivery of Intelligent Cloud Connect.
BTI also announced the appointment of Thomas Nolette as senior vice president of global operations, saying the move would help accommodate increasing market demand. Nolette comes from Boxborough-based Crossbeam Systems, where he was vice president of operations. He has more than 25 years in the networking business.
To accommodate new and prospective customers and partners on the West Coast, BTI said it's expanding its presence there with an office in Palo Alto, Calif. Its other offices are in China, Malaysia, Singapore and the United Kingdom.
WBJ Web Partners
Most Recent
Most Recent
0 Comments