Israeli start-up OpTier, which is developing application performance management software, today announced that it completed a first round of financing totaling $8.6 million.
The investment was led by Israeli venture capital funds Carmel Ventures and Pitango Venture Capital.
Headquartered in New York, with a research and development center in Ramat-Gan, OpTier is developing next generation application performance management solutions for multi-tier computing environments. The company says it is working in close cooperation with the IT organizations of some of the world’s leading companies to bring the solution to market.
The company is chaired by Israel Mazin, previously chairman and CEO of Memco Software, an Israeli high tech company.
OpTier’s CEO is Yori Lavi, who previously spearheaded new product initiatives with companies such as Compuware (Nasdaq: CPWR), OpTier said.
Carmel Ventures co-founder and managing partner Avi Zeevi said, “OpTier has a unique combination of an exceptional and experienced team with innovative technology that addresses one of the most important issues in the growing application performance management space.”
“We have been proactively searching for a company in this space. OpTier provides a corner stone for delivering true on-demand and utility computing capabilities to a viable and growing market,” added Rami Bracha, managing director of Pitango Venture Capital.
Zeevi and Bracha have joined OpTier's board of directors.
Published by Globes [online] - www.globes.co.il - on 16 September, 2003