Eight Wire completes funding round for Conductor release
Wellington data management startup Eight Wire has finished a funding round which will provide the company with the resources it needs to promote the upcoming release of Conductor, a SaaS application for IT technicians.
Jason Gleason, Eight Wire’s Business Director, said that the company’s investors were a mixture of friends and high net worth individuals that they had been introduced to. Some of the investors had been there from the beginning which made the new round easier, because it’s on the back of 12 months of engagement.
Although Jason was not at liberty to discuss specific numbers in terms of the investment raised, he said that it will give them a runway of at least 6 months and allows for growth in marketing and expanding their partnerships.
“It [the investment] will allow our founders to focus 100% on Eight Wire without needing to worry about bringing in income from other avenues,” Jason said in an email. “We are growing our strategic partner network in NZ as well as Australia and the US, so this will allow us to meet with partners and continue to gain traction.
“Also, we are planning a US launch in a few months, so the investment will fund the marketing and PR efforts needed.”
Conductor is a few weeks away from being released to the general public through a monthly subscription pricing model. The company has had beta testers using Conductor for several months now, and this has allowed Eight Wire to create case studies on enterprise data migration, cloud integration and delivering reporting solutions while they identify and fix bugs in the system.
“We are also launching an API,” Jason adds, “so some customers are already connecting Conductor to their apps.”
Eight Wire is still tweaking its prices, but Jason says that when it’s released, customers will be able to move millions of rows between two systems for a few hundred a month, or manage an entire enterprise for a few thousand a month.
“The exact numbers may change in the near future, but they won’t stray from this,” he said.
Eight Wire plans to carry out another funding round in in the next few months to help them with their sales and marketing efforts, and continued growth in the NZ, US and Australian markets. “
“Conductor is a few weeks away from being purchased by anybody in the world, so our aim is to use investment to grow as fast as we can,” Jason concluded.
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