Excerpts: “Datanautics Secures $6.1 Million in First Round of Funding.”
- Participating in the round are leading venture funds Excelsior Venture Partners III, llc, a venture fund managed by U.S. Trust, Huntington Technology Fund, LP a venture fund managed by Huntington Ventures, LLC (“Huntington”) and Berg & Berg, LLC.
- U.S. Trust is a premier wealth management company serving affluent individuals, families and institutions nationwide. Both, Berg & Berg, LLC, a Private Investor, and Huntington, an institutional investment firm, provide comprehensive support to early-stage companies in the highly competitive sectors of information technology and telecommunications.
- “The investment opportunity with Datanautics is truly exceptional. We rarely see such a rich combination of experienced management, mature product, and marquee customers,” said David Fann, a managing director of U.S. Trust. “We are confident that P.K. Karnik and his team will deliver world class business analytics tools that uniquely meet the needs of the company’s clients,” he added.
- Both Mr. Fann and Mr. Burri are joining Datanautics’ board of directors, on which Mr. Fann will serve as chairman. Also joining the board are Raghav V. Nandagopal, a senior vice president of U.S. Trust, and Tim Unger, Founder and Managing Principal of consulting firms OnTrack Advisors and Consulting in Human Capitalism.