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IT advisory service Wisegate has closed a $4 million Series B round of funding, bringing its investment total to $8 million.
Arcus Capital Partners led the round, with participation from Series A investors including Central Texas Angel Network, Atlanta Technology Angels, Golden Seeds, and Cowtown Angels.
The Austin-based company, which was founded by erstwhile Sun Microsystems vice president Sara Gates, maintains a private, invitation-only online community designed to facilitate communication between senior-level information technology professionals.
“Wisegate has hit on a massive need in the enterprise IT market to connect senior practitioners with their peers in order to provide real-time data and insights...Wisegate helps IT help themselves and I am a big believer in this model and this team,” said Arcus Capital Partners managing partner Ross Singletary in a statement.
Founded in 2007, Wisegate upholds relatively stringent criteria for acceptance, asserting this as one of its greatest assets. Its members, who must be responsible for information technology and related matters at the corporate or enterprise level and can’t be associated with companies that sell IT products, are screened and interviewed before their acceptance.
“Just as we are selective in who can join our membership, we’ve also been very selective with our investors and are proud of the continued support and enthusiasm shown to us in this round...This round will allow us to accelerate our growth,” added Gates.
Wisegate last earned funding in June, raising $1 million from 26 investors, according to a filing with the U.S. Securities and Exchange Commission. The company, which currently employs 30, plans to use the new funds to bolster its marketing, customer service, and sales staffs.
