Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Verum secures EUR 2 million investment from Shatho


14 December 2007

Verum (Eindhoven, The Netherlands) has secured private equity funding of EUR 2 million from Shatho Beheer B.V. (Rotterdam, The Netherlands). The investment values Verum at approximately EUR 6 million.

Founded four years ago by Guy Broadfoot and Robert Howe, Verum is poised for rapid growth following successful pilots of its initial product concept by key customers such as Philips Medical Systems, Philips Applied Technologies and Nanda Technologies. All three companies have now licensed Verum’s technology.

Verum’s patent pending Analytical Software Design (ASD) breaks new ground for software developers: it is the first tool of its kind to offer a simple means of building mathematically correct software for complex embedded and automotive systems. ASD ensures that products perform to specification by introducing a dramatic increase in software quality. It also reduces project costs, cuts development times by typically 30%, and makes both aspects more predictable.

“I am delighted that we have attracted such a keen investor, whose positive assessment of our business potential clearly underwrites our own confidence in the future of ASD,” stated Robert Howe, Chief Executive Officer of Verum.

The funds invested by Shatho are for further development of the ASD product range, with the aim being to release a fully integrated and professionalized ASD tool suite in 18 months time.

Anne Ringsma, CEO of Shatho said, “By signing up Philips Medical Systems as a licensee for the next five years, Verum has demonstrated the credibility of both its technology and business model. I’m confident that they will grow to be a major force in Software Design Automation (SDA) in the future.”

Verum’s advisors, Rob Maassen and Frans Schut from Redstone Corporate Finance, were instrumental in arranging the transaction with Shatho. Frans Schut, who will take up the role of consulting CFO as part of the deal, noted, “Verum has carved out its own niche in this field and achieved rapid growth, which has turned it into a profitable business already. This is an exciting moment to be stepping in.”

See www.verum.com for further information.

- End -

For more information on Verum, please contact:
Robert Howe, Verum, Paradijslaan 28-28A, 5611 KN Eindhoven, The Netherlands,
Tel: +31 (0)40 235 9090, Fax: +31 (0)40 235 9099, Email: robert.howe@verum.com

For more information on Shatho, please contact:
Anne Ringsma, Shatho Beheer bv, Sevillaweg 142, 3047 AL Rotterdam, The Netherlands,
Tel: +31 (0)10 298 88 77, Fax: +31 (0)10 298 88 78 Email: info@shatho.nl

For more press information, please contact:
Mark Graves, Consultek 2 B.V., P.O. Box 266, 5240 AG Rosmalen, The Netherlands,
Tel. +31 (0)73 521 5592, Fax. +31 (0)73 521 8648, Email: mark.graves@consultek2.com


About Verum
Verum provides Software Architects and Designers with a simple, general-purpose way to build mathematically verified software for complex embedded & automotive systems. Verum licenses its Analytical Software Design (ASD) tool to customers and offers consultancy and support in its application. Verum was founded in 2003 by Guy Broadfoot and Robert Howe, two veterans of the software development industry. Based in Eindhoven, the Netherlands, the company maintains close ties with researchers at Oxford University in the UK and the Technical University of Eindhoven (TU/e).

About Shatho
Shatho invests in start-ups as well as providing financing and coaching for existing, unlisted companies. The company has concentrated on businesses from the media and communications branch, with notable successes such as Sheridan Europe and Happinez. Shatho is now broadening its reach into other fields, including high-tech companies. Shatho was founded in 2000 by Anne Ringsma. The company operates under the motto: As you sow, so shall you reap.


Publisher Contact Information:

Verum
+31 (0)40 235 9090
robert.howe@verum.com

Company profile of Verum
Past press releases of Verum.

Data


26,230
Tech investments
From our Online Data Service
16,944
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Oct 11N/AInternet services
Oct 11€1.1MKnowledge management
Oct 11N/AInternet services
Oct 11€13.0MBiotechnology
Oct 11N/AMedical devices
Oct 10€50.0MInternet services
Oct 10€23.0MOther Computers & Electronics

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.