STOCKHOLM--(BUSINESS WIRE)--Starcounter today announced that it has secured a total of $1.8 million in financing, with $1.2 million coming from Industrifonden, one of Sweden’s largest investors in companies with international growth potential. The funding will be used to accelerate the development and launch of a new web technology for software application developers, as well as drive the global expansion and adoption of Starcounter’s high-performance in-memory application platform for independent software vendors (ISVs) and web developers.
Starcounter’s application platform, recently updated to 2.0, enables ISVs and developers to quickly and cost-effectively build business applications under demanding release cycles, without sacrificing the application’s speed or performance and with fewer lines of code. Based on Starcounter’s patented VMDBMS technology, the database processes millions of ACID-compliant transactions per second and is designed for large-scale, real-time systems.
“We are impressed with the way Starcounter’s groundbreaking database technology helps developers bring new applications to market fast and at a low cost,” said Johan Englund, Investment Manager at Industrifonden. “Starcounter is positioned to make a significant impact on the software industry, and with this new financing, we look forward to the company’s continued growth and innovation in this market.”
“This funding and validation from Industrifonden provides a great level of confidence in our capabilities. Industrifonden’s experience, vision and strong capital resources will enable us to speed up our development and continue to build our customer base. With our next generation database on the market, ISVs and developers can quickly build business applications that meet customers’ extreme performance demands,” said Kristoffer Lundegren, CEO of Starcounter.
Starcounter is dedicated to enabling a new breed of high performance enterprise applications. Founded in 2006 by entrepreneur Joachim Wester, Starcounter’s goal is to reshape the enterprise software industry by transforming the way software is developed and run, with the Starcounter in-memory application platform. To learn more, visit www.starcounter.com.
Industrifonden invests in small and medium-sized Swedish companies with international growth potential. We take a long-term approach, usually in partnership with entrepreneurs and other investors. The Fund has assets of SEK 3.7 billion and investments in around 90 companies in technology, cleantech, life science and industry. For more information, visit www.industrifonden.se/english.