News

Netkey closes $3 million funding

July 21, 2004

BRANFORD, Conn. - Netkey, Inc. has successfully closed on an extension of its Series C funding for $3 million, according to a company release.

Netkey plans to use the additional funding for product development to extend its platform and grow its sales and marketing operations to support increased customer demand for its software. "Netkey is recognized as a market leader for providing the only software platform businesses need to manage and monitor their unattended self-service and digital merchandising systems," said Conor Mullett, general partner, Updata Venture Partners. "Netkey is well-positioned to capitalize on strong customer demand and tremendous market momentum." "The need for Netkey's enterprise-level software platform continues to intensify as retailers and other businesses recognize the benefits of self-service and digital merchandising. Optimizing performance and controlling costs have never been more important," said Netkey CEO V. Miller Newton. "The continued support and involvement of our investors will be enormously helpful to us as we grow the company to take advantage of this market opportunity."