Oblicore secures $9m in third round of financing

Oblicore announced today that it has raised $9 million from new and current investors. The Series C round brings the total funding raised by the company to $21 million. Oblicore said this will be used to launch significant worldwide sales and marketing initiatives as well as to accelerate product development.

The financing round was led by Jerusalem Venture Partners (JVP), a $675 million fund headquartered in Jerusalem, and Favonius Ventures, a $100 million venture fund based in London and Amsterdam. JVP and Favonius were joined by existing investors Concord Ventures and Platinum Neurone Ventures in this round.

Oblicore provides service level management (SLM) applications that continuously track performance of IT services against committed service levels and business metrics. Clients include France Telecom, LandesBank and E.on. Oblicore is headquartered in Columbia, Maryland, with R&D in Israel and regional offices throughout Europe.

Michael Carus, general partner at JVP, and Professor Roel Pieper, managing director and chairman of Favonius Ventures, will join Oblicore's board of directors.

Published by Globes [online] - www.globes.co.il - on Thursday, March 25, 2004