Mannai Corporation, along with other partners, has pitched in with $14.5mn funding for the Swiss IT analytics firm NEXThink.
The funding will be deployed for additional investment in its existing markets such as the UAE and Saudi Arabia, for expansion and product developments in the cloud and mobility spaces, Pedro Bados, the company’s CEO, president and co-founder was quoted as saying.
The other partners are Auriga Partners, Venture Incubator (VI) Partners. However, it was not known as to how much did the partners individually participated in the funding.
NEXThink was founded in 2004 with the vision of transforming how the Global 5000 and service providers see, use and operate their IT infrastructure. NEXThink has the most advanced intelligent monitoring, discovery and analytics solution on the market that audits IT infrastructure in real-time from the perspective of end users’ workplaces, physical or virtual, and it is integrated into leading management software solutions for true end-to-end IT management.
The entity — which is into banking, telecom, hydrocarbons and government sectors — is also eyeing other social infrastructure sectors in view of the critical importance to the respective national economies.
In 2012, Mannai Corporation had joined Auriga Partners and Venture Incubator, in the $5.5mn Series C funding.
“We were impressed with the NEXThink team and saw that they had created a truly innovative and disruptive product which is why we became their first VAR in the Middle East a couple of years ago,” Alekh Grewal, Mannai Corporation CEO and NEXThink Board Member, had said at that time.