Anti-frustration software developer Soluto Ltd. has raised $10.5 million in a second financing round. Index Ventures led the round, and was joined by current investors Bessemer Venture Partners, Giza Venture Capital, and Proxima Ventures. The company has raised $18.3 million since it was founded in 2007.
Soluto will use the proceeds to develop new products for PCs, expand its solutions to mobile platforms, and pursue development of its PC Genome database.
Soluto's patent-pending technology detects when a user is frustrated by his PC and tells him which application is causing it. Soluto then harnesses the power of the crowd to understand which actions really eliminate frustrations. This collective user wisdom, in the form of anonymous statistical data, is gathered automatically through the download and use of Soluto's anti-frustration software, analyzed, and stored in the PC Genome, a database of PC frustrations and solutions, gathered for the benefit of all users.
Soluto CEO Tomer Dvir and CTO Ishay Green founded the company, which has 30 employees. The company has had two million downloads of its free software.
Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2011
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