CIMdata PLM Industry Summary Online Archive
21 March 2012
Financial News
Nuage Receives $500K in Additional Investment Following Public Launch
Nuage Inc., a leading provider of Social Business Collaboration solutions, announced that it has raised an additional round of funding in the amount of $500,000 from private investors following the company’s public launch less than one month ago.
The additional round of funding will enable Nuage to capture a greater market share in the Social Business Collaboration space. The Company will allocate the investment to continued technology and business development for the next phase of Nuage’s web-based collaboration and management tools. In addition, resources will also be directed to open new markets both domestically and internationally.
“We are pleased to be able to bring in additional investments so soon after our recent launch. Nuage is committed to using the investments to make improvements in business processes supported by best practices in information technology,” said Chris Atkins, CEO and President of Nuage. “This round of funding will allow us to focus on other business opportunities and introduce more innovative technologies that align with our existing efforts.”
Nuage’s Social Business Collaboration solutions enable companies to use social media interactions to exchange thoughts and ideas in a way that is integrated with business processes, like product lifecycle management (PLM), without the high costs and complexity. The company’s unique approach to process management via a social business collaborative, online business application suite allows users the flexibility and interactivity lacking in today’s management solutions.
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