SaaS startup ITMan attracts investment from Softline and Moscow Seed Fund
Summary
Russian tech fund Softline Venture Partners and the Moscow Seed Fund announced last week that they have closed a funding deal with ITMan, a startup providing SMB companies with SaaS (software as a service) solutions to control IT assets.While neither the amount of the investment nor the stake the investors have acquired in ITMan have been disclosed, the investors have stated that they expect the company to become profitable by 2015.ITMan offers a SaaS IT asset management platform for small and medium-sized companies that allows customers to track hardware and software, administer PCs remotely, control SLAs, and more.This is not the first investment made by Softline Venture Partners which is owned by Softline Group, a leader in the Russian software licensing market in partnership with the Moscow Seed Fund, the City of Moscows venture arm. In late 2012, the two funds poured a combined $400,000 into an advertising management startup called ContextBroker.Softline Venture Partners invests in companies working in four fields: enterprise software for SMBs, mobile apps, e-commerce, and cloud services, said the funds PR manager Ekaterina Kuleshova in an exchange with East-West Digital News.