Ottawa based BTI Systems closed a recent funding round quietly as it raised $8.5 million in funds that were generated from existing Boston based backers Bain Capital Ventures. This innovative software and networking company launched the funding round as a part of their development initiative and technology research that BTI will announce in the coming days.
Explaining the low key funding round, BTI’s Senior Vice-President of Global Marketing, Sally Bament said that the reporting of additional news in a couple of weeks has kept the current new under wraps. She added, “We’re tying it into a bigger launch initiative that will be pretty exciting for the market”.
Bament said the $8.5 million funding round is good news not only for her company, but for Ottawa as well, as she said that, “Any time a tech company has an investment in R&D, the nice thing is that means we’re investing in people as well as equipment”.
The latest funding will not only help BTI Systems with their research and development, it will also allow them to recruit more employees during the current year, as Bament commented she “absolutely” hopes to do so. However, the company did not mention how many employees they will hire.
BTI Systems was able to generate the large amount of fund because of its extraordinary growth, as it has managed to achieve an exceptional 334 percent growth rate, which also made it eligible to become a part of Technology Fast 50 list from Deloitte for 2012. This list basically honours tech companies of Canada that have the fastest growth rate.
Source: OBJ
Photo: BTI Systems
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