An Irvine company that makes products for managing software on corporate computers has landed $10 million in a second round of funding.
Integrien Corp., which provides software to troubleshoot programs running on servers and other computers, plans to use the money to boost its sales staff, among other things.
The company’s second round hasn’t closed yet and could end up at $15 million, according to Al Eisaian, Integrien’s chief executive.
The company’s first round of $6.5 million came last year.
The latest funding is set to go toward expanding in North America and into Europe, Eisaian said. The company also is looking at offices in Asia, likely in Japan and China, he said.
Locally, Integrien plans to add engineers and move into a nearby 15,000-square-foot office, tripling its size.
The company has offices around the U.S. and outsources some software testing to Utah and India. Integrien also has a development center of its own in the former Soviet Union.
Investors like Inte-grien because its software solves a problem for businesses. It’s one of several such companies from Orange County, from Costa Mesa-based FileNet Corp. to Viacore Inc. and Access360 Inc., both of which were bought by IBM Corp. in recent years.
Until the technology meltdown a few years back, the thinking was that software from one provider,maybe Oracle Corp.,would end up managing all of a company’s software, including that on network, Web and database servers.
But that idea went the way of Pets.com.
These days, technology managers have to keep tabs on several programs at once.
Finding a glitch in one,known in tech jargon as a “silo”,can be a daunting, time-consuming task. It’s one that often leaves executives frustrated after spending millions on software and computers.
Integrien’s software uses analytics,essentially math equations that analyze data,to churn through programs and “predict” if a glitch could develop.
The company also sells software to identify problems.
“We have combined the different capabilities under one umbrella,” Eisaian said.
The company’s focus on a pressing need for businesses appealed to investors, according to Eisaian.
“There are a lot of people that want to get in,” he said.
Chesterfield, Mo.-based Acartha Group LLC led the company’s latest round. Santa Monica-based Clearstone Venture Partners LLC, which led Integrien’s first round, also took part. Tech Coast Angels invested in the two rounds as well.
“It’s a very nice round,” Eisaian said. “It’s a validation by the venture capital community.”
Integrien has sold software to Alcatel and a unit of Baxter International Inc. Software packages run about $50,000 to $75,000 for pilots and $250,000 to around $1 million for fully installed products.
Eisaian declined to disclose revenue but said sales are doubling annually.
The company should be profitable in the next few years, he said.
Growth will be harder as Integrien gets bigger and rivals go after its market, Eisaian said.
“I don’t expect the competition to sit there and take it,” he said.
Other startups are going after the market, said Dennis Drogseth, an analyst with Enterprise Management Associates Inc. in Boulder, Colo.
So far, Integrien has the lead, he said.
“In technology, they are the market leader,” Drogseth said.
Down the road, Integrien could be ripe for acquisition by bigger companies, including IBM or Oracle.
Eisaian saw his last company swooped up in a big acquisition. He used to be senior vice president and general manager at Santa Monica-based LowerMyBills.com, which Costa Mesa-based Experian Group bought for $330 million last year.
He said he wouldn’t mind an initial public offering.
“It could possibly go out in an IPO,” he said. “It all depends on the appetites of the investors.”
