Finnish MultiTaction, a provider of advanced visualization solutions, announced that it has secured €7 million in funding from Harbert European Growth Capital Fund (HEGCF).
MultiTaction has grown significantly in the past year and will use the funding to further accelerate the growth of its MT Canvus software platform for real-time collaboration and big data analytics. MultiTaction offers software and hardware solutions including an interactive video wall that can be used by large organizations that are struggling to deal with big data challenges.
"Harbert’s investment will help us reach into new market segments and accelerate delivery of new software solutions," said Pete Malcolm, CEO of MultiTaction, in a statement. The funds will be used to fuel the company's growth strategy in Asia, Germany and the UK, and current investments in research and development will be expanded in order to speed time to market on new software developments, along with market entry into key verticals such as medical technology and security.
The company's MT Canvus is used by organizations in more than 50 countries to gain operational insights from their big data investments through collaborative analytics, to engage clients by showcasing their solutions through an interactive platform, and to increase productivity through socializing and educating staff on new operations, processes and products.
"We are impressed by the unique proposition that MultiTaction represents for its customers. The company has primarily driven growth through clients adopting the solution on a global basis. We are excited to provide growth capital to MultiTaction at a turning point in the industry, where large organizations are increasingly looking to give their businesses a competitive advantage from big data investments," said Johan Kampe Senior Managing Director of Harbert European Growth Capital Fund (HEGCF).
Read more: MultiTaction (Press release)