Software firm PNMsoft has secured a $3.3m (£1.15m) investment in the business which will allow it to expand its overseas operations.
The company has been backed by the Goldrock Investment Fund, which backs mature technology companies and is a part of the Goldman Investments Group.
PNMsoft specializes in the development and marketing of software products and professional services for the business process management (BPM) sector.
Headquartered in London but with its R&D operations in Israel, the company’s flagship product, Sequence, has been installed in over 200 major companies.
However, now the company has the backing of Goldrock it plans to dominate the European market and expand its North American reach.
Gal Horvitz, chief executive officer of PNMsoft, said: “Goldrock's investment provides PNMsoft solid financial backing enabling it to accelerate and expand overseas operations, with a particular focus on Europe.
“We plan to play a dominant role in our segment within Europe as well as expand our North American activities in preparation for a future public offering.
“Goldrock has close ties with key players in the global software and capital markets, especially in the UK, a market on which we focus.”
“We were very selective in our decision since we were looking for a true partner for our vision.”
© Crimson Business Ltd. 2007
