Chorus Systems Is Striking Right Note With Investors, Gets Another $3M
Posted March 28, 2006
RESEARCH TRIANGLE PARK, N.C. — Chorus Systems
, a startup that is focused on software for the automatic fixing of enterprise computer problems, continues to strike the right chord with investors.
The RTP-based company said Monday that it had closed on an additional $3 million in financing. The funds are an add-on to the $6 million in Series B investment Chorus announced earlier this month.
Chorus closed on an oversubscribed A round of $1.7 million in June of 2004. MCNC Ventures led the round along with Tri-State Investment Group. The company, which was founded in 2002, is also backed by several angel investors.
The newest investor is Novak Biddle Venture Partners, which invested the additional $3 million.
"Chorus Systems' analytic capabilities are going to revolutionize this space," said Jack Biddle, the founding partner of Novak Biddle who also sits on the Chorus board of directors. "By using analytics to secure the desktop, Chorus addresses a number of tough issues in the service management and security markets."
Leading the B round was Core Capital Partners. Also investing were Inflection Point Ventures and Anthem Capital Management.
Chorus said the funds would be used for expansion of sales and marketing programs plus additional product research and development.
The company's lead product, PreDix, is designed to automatically detect, diagnose and respond to problems within enterprise networks.
"We are very excited to have NBVP close out the round," said Dave Hooks, chief technical officer and founder of Chorus Systems. "Their depth of experience and strong track record in this market are hard to beat."