Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 


Compudigm - NZ$4.9 million Equity Funding from IO

Media release

8 November 2002

Compudigm International Limited Secures

NZ$4.9 million Equity Funding from IO Fund

WELLINGTON, New Zealand (November 2002) - Compudigm International Limited (Compudigm) announced that it has closed a new, $4.9 million round of equity funding with the IO Fund No 1 Limited (IO Fund) and private investors. Compudigm specialises in advanced data visualisation software with customers in the US, UK, Australia and New Zealand.

The main investor, the IO Fund, is a co-investment arrangement between New Zealand listed company Infratil Limited, Orion New Zealand Limited and the New Zealand Government's Venture Investment Fund.

Compudigm's data visualisation software shows organisations the interactions between customers, products and their operational business. This enables management within these organisations to grow their bottom-line by enhancing the overall customer experience, optimising the product mix and improving business operations. The Data Warehousing Institute judged this software, seePOWERT as the world's leading data visualisation solution. seePOWERT uses the power of the human eye and brain to identify issues and opportunities by presenting complex business data as contoured colour images and animations over time. The funding will be used to expand international sales of the seePOWERT software.

Andrew Cardno, President & CEO of Compudigm said "We are excited to have New Zealand investment to grow as we continue to challenge the global market place. A key objective of Compudigm is to develop technology in New Zealand, with New Zealand companies and then commercialise this intellectual property internationally." Mr Cardno added "This investment by the IO Fund is a reflection of Compudigm's potential and commitment to continuing to deliver world class business solutions."

IO Fund manager Ian McInnes says the IO Fund was impressed with both Compudigm's key product, seePOWERT, which has clear market leadership, and the company's management. "Compudigm has successfully achieved sales in a number of industries. We anticipate substantial growth in coming years through the adoption of seePOWERT in new markets."

The IO Fund has $60 million to invest in venture capital over the next three to five years. Infratil and Orion will each contribute $20 million to be drawn down as commitments arise - with the Government contributing an additional $20 million through its Venture Investment Fund. The IO Fund will mainly focus on technology investments that have global potential. Compudigm is its first investment.

Ends


Background on companies: Compudigm International Limited: Compudigm International Limited, established in 1997, is now recognised as the industry expert in business intelligence and data visualisation solutions. Its seePOWERT system undertakes complex analysis of huge volumes of data, so business people can benefit from scientific techniques, enabling improvement in organisational and bottom-line performance. For more information visit www.compudigm.com

IO Fund: The IO Fund has $60 million in venture capital to invest over the next three to five years. It is managed by HRL Morrison & Co and Orion New Zealand Limited. The IO Fund will focus on technology investments that have global potential.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Sci-Tech
Search Scoop  
 
 
Powered by Vodafone
NZ independent news