Bitium secures $6.5M in Series A funding round led by Polaris Partners

March 3
1:27 PM 2014

Enterprise software firm Bitium received $6.5 million for its Series A funding round, a statement about the financing said.

The round was led by Polaris Partners and participated in by previous investors which included Amplify, Resolute VC, Double M Partners, Social Leverage, Karlin Ventures, Lazerow Ventures and Rob Glaser. As part of the deal Polaris Managing Partner Dave Barrett will be part of the Board of Directors of Bitium. Proceeds from the latest round will be deployed towards the firm's growth plans, increase the development of its products and improve its sales and marketing initiatives, a statement about the funding said. 

Bitium Chief Executive Officer Scott Krizz said in a statement, "As software moves to the cloud at a rapid pace, we are poised to continue our rapid expansion and Polaris and Dave understand the importance of an open adoption model for enterprises. Their expertise is going to be an asset as we drive product growth, sales and marketing. Companies are seeing that by empowering employees with Bitium, the role of IT is changing from gatekeeper to curator. We enable companies to realize long-term strategic advantages over their competition with increased efficiency and agility, by allowing them to focus on their core business instead of locking down the organization for the sake of security." 

The statement said more than 1,500 cloud based applications rely on Bitium's app management, single sign-on and analytics services. Among those that use the enterprise software firm's solutions are Google Apps, social networks, CRM, bug trackers and customer service dashboards. It was established in 2012 by Scott Kriz and Erik Gustavson.

Barrett said in the statement, "Bitium has built a product that not only solves a major issue for organizations of all sizes, but also provides a superior user experience to other products on the market. We are still at the beginning stages of a SaaS revolution that will impact web and mobile users for the next generation, and Bitium is well positioned with a compelling strategy, stellar product platform and world-class technology team."

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