RealTime IT News

Spirian Picks Up $7M

Chicago-based Spirian Technologies Inc. Tuesday (Jan 30) announced that it has secured $7 million in equity financing from an investment consortium co-led by Citadel Limited Partnership and Ravenswood Capital Venture Fund II, both based in Chicago.

The investment by Citadel and Ravenswood marks the third round of equity capital for Spirian, which previously received funding led by Primus Venture Partners, a private equity investment firm based in Cleveland, Ohio, and WR Hambrecht + Co., a prestigious high-tech financial services firm based in San Francisco and led by Bill Hambrecht, the investment banker who pioneered the venture capital business in Silicon Valley.

The company's second round also included an investment from the founders of yesmail.com, led by Ken Wruk, a leader in the field of permission email marketing.

"The market for Spirian's service is massive, as it's hard for me to imagine a company that is not a potential customer," said Dan Kanter, partner at Ravenswood. "Spirian has created a remarkable company culture that is totally focused on the customer and delivering a high quality of service. A lot of companies talk about that, but miss the mark."

Spirian is an IT infrastructure management firm that provides automated asset discovery, application deployment and desktop management services via the Internet. The company, a pioneer in the Management Services Provider space, says it was the first to offer desktop management services via the Internet on a subscription basis.

"Citadel and Ravenswood recognize that our space, IT infrastructure management, addresses a universal need for every business -- the ability to reap real value from their IT investments," said Al Wasserberger, president and CEO of Spirian Technologies. "Technology is critical to the operation of most organizations. At the end of the day, technology is great...when it works! Our job is to help companies ensure that it works, 100 percent of the time."

Randy Scasny writes for Chicago.internet.com, part of the internet.com news network.