Wednesday, January 30, 2008

BEZ Systems brings in $2M in fourth round

Boston-based software maker BEZ Systems Inc. reports it has landed $2 million in a Series D round of institutional financing.

The round was led by Ascent Venture Partners, with participation from Velocity Equity Partners and the Massachusetts Technology Development Corp. All three are previous investors in BEZ Systems. The latest funding brings the total VC funding in BEZ to approximately $16 million, according to president and CEO Dan Haley.

According to company officials, the funds will be used to launch a new product line that is intended to help IT managers directly address the accelerating rate of change and complexity of their systems, while controlling costs and maintaining performance levels.

Founded in 1983 as a professional services firm, BEZ Systems relocated to Boston from Chicago in 2004. The company's flagship product, BEZPlus, is already used by customers including FedEx Corp., eBay Inc. and the Krogers Inc. supermarket chain, officials said.