“Cloud automated demo and training software offers significant potential both as an investment opportunity and as a key technology which accelerates direct and channel sales,” said Jim Estill, Managing Partner, Golden Seeds.
(PRWEB) November 30, 2010
Hatsize, the leading cloud automation software provider for demos and training, today announced that it has secured $5 million in series A funding from Golden Seeds and the Business Development Bank of Canada (BDC) to expand global sales and marketing efforts. Hatsize, which is based in Calgary, Alberta, also announced that Jim Estill, a technology veteran who has made over 120 investments in early stage companies with more than 20 successful exits, will join the Hatsize Board of Directors.
“Automated demo and training software offers significant potential both as an investment opportunity and as a key technology which accelerates direct and channel sales of enterprise computer products,” said Jim Estill, Managing Partner, Canrock Ventures and Managing Director, Golden Seeds.
Stephanie Hanbury-Brown, Founder and Managing Director, Golden Seeds added, “We were attracted to Hatsize because it is creating an exciting new category with its automated demo and training software and because it has a talented leadership team in place with the vision and experience to seize this growing market opportunity.”
Matt Kellow, Manager of Subordinate Financing at BDC’s Calgary business centre, said: “BDC is pleased to provide matching funds to Golden Seeds via a mezzanine investment. We see an exciting future for Hatsize and believe hybrid financing is the optimal way to provide working capital and fuel growth in the company’s revenues.”
“Golden Seeds’ and BDC’s investment comes at the opportune time for us to execute our plans and maximize our ROI,” said Sue Miller, Hatsize CEO. “We are looking forward to drawing upon Jim Estill’s experience as we consolidate Hatsize’s position as the leading provider of automated demonstration and training software in the market.”
Hatsize won the 2010 Canadian Financing Forum Award, Canada’s leading showcase for venture capital investments. In addition, Hatsize recently launched a unique nested VMware ESX virtual training solution, which enables VMware customers to save money by replicating their ESX training environment without purchasing equipment.
Hatsize is a leading cloud automation software company that has provided over one million hours of hands-on demos and training for the world’s most successful technology companies including IBM, Juniper, Sun Microsystems and Symantec. http://www.hatsize.com
About Golden Seeds
Golden Seeds was founded in August 2004. What began as a simple angel investing group has been purposefully recast into a disciplined investment organization. Today, with locations in New York, Boston, Philadelphia, and San Francisco, 150+ investors aid in all phases of the investment process with their resources and expertise.
BDC is Canada’s business development bank. From more than 100 business centres across Canada, BDC promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to entrepreneurs. http://www.bdc.ca