Technology Partners Invests In NightFire

NightFire Software Inc. today announced that venture capital firm Technology Partners has invested $4.5 million in the intercarrier ordering and provisioning software solutions provider. The vendor sells software that automates intersystem service management, enabling more rapid and efficient service delivery among local, long distance and mobile wireless communications providers.

The investment, combined with a bank arrangement finalized in January, brings total funding since December 2001 to $21.5 million. “While it is clearly not an easy time to raise capital, NightFire is able to attract top investors because the company continues to perform well even in challenging times,” says Jerry Rudisin, NightFire's president and CEO. “We expect this to be our last funding. NightFire is generating positive cash flow and the company is on track to become profitable by the end of the year.”

NightFire says its sales jumped nearly 150 percent in 2001 and that it has achieved 11 consecutive quarters of revenue growth and is cash flow positive. According to a recent report published by The Yankee Group, NightFire has signed a significant portion of new intercarrier provisioning business.

The Technology Partners' investment completes the fourth round of financing for NightFire, which has received a total of $51.8 million in venture capital since inception.

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