Sweden-based management software company Tail-f Systems raised $4m in series B financing on Tuesday in a round led by SEB Ventures, the corporate venturing division of Sweden-based banking group SEB Group. SEB previously funded Tail-f’s series A round, contributing €2m ($2.3m) in 2005.
Tail-f produces software that helps the developers of network management systems build their applications in less time and incorporating more features. Tail-f plans to use the investment to beef up its sales infrastructure for its product, ConfD.
Patrik Westerberg, senior investment manager for SEB Venture Capital, said: "Tail-f Systems has achieved some amazing milestones in a relatively short period of time. ConfD has become the de facto choice for network equipment providers needing to build powerful standards-based management systems."
Westerberg added: "Recently, Tail-f developed game-changing software that addresses critical pain points for service providers, and with this new funding the company is extremely well positioned to succeed in this large and growing market space."