US-based advanced IT management software provider Centerity attracted $10m in funding on Tuesday from network and infrastructure security technology producer Merlin International.
Centerity has developed software that enables clients to manage computing and internet-of-things networks. It focuses on large clients that operate networks for several organisations or handle on-premises, cloud and edge-based devices simultaneously.
The products are designed to aggregate detailed data from each level of the client’s network. Centerity claims the service can cut costs at network operations centres by as much as 80%.
The cash will be used to double the size of Centerity’s research and development centre in Israel as it seeks to enhance its machine learning, artificial intelligence and business service analytics technology. It also plans to expand its sales, marketing and distribution activities.
David Phelps, chairman and CEO of Merlin, said: “With Merlin’s investment, we are confident that Centerity can not only accelerate its R&D process, but also leverage the vast sales and distribution channels that Merlin has built over the past 20 years. We see strong synergy for our product offerings, R&D collaboration and sales expansion.”