ENCIRQ Raises $14 Million in Series B Funding for Rapid Global Expansion
Investment Supports Worldwide Expansion Delivering a New Era of Data-Driven Product Capabilities, Services and Business Models
ENCIRQ Corporation, the leading provider of high performance data management solutions for embedded systems, announced today it has raised $14 million in Series B funding. Menlo Ventures led the financing, joining existing investors JPMorgan Chase, Geneva Venture Partners and Novus Ventures. Japan-based Sunbridge Corporation and Itochu Technology Ventures also participated in the financing. ENCIRQ will use the funds to accelerate international growth, expand marketing and sales, strengthen its presence in Japan, and continue evolving its flagship product, the ENCIRQ® Data Foundation(TM) Framework.
"ENCIRQ is clearly well-positioned as the market leader with a compelling product in a high-growth market space," said Mark Siegel, managing director, Menlo Ventures. "With its innovative product architecture and outstanding execution, the team has developed a huge barrier to entry for any potential competitors. Menlo Ventures is extremely pleased to support ENCIRQ in the Series B round, and will help in accelerating strategic relationships with key customers and partners."
Supporting ENCIRQ's vision to continue adding seasoned professionals to its experienced management team, Menlo Ventures' managing director Mark Siegel has joined the company's Board of Directors, along with David Golden, managing director, JPMorgan Chase, Mark Vogel, CEO, ENCIRQ, Stewart Schuster, general partner, Novus Ventures, and Igor Sill, managing director, Geneva Venture Partners, Inc.
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