Pond Venture Partners has led an $8m financing for Eccord Systems, which develops intelligent systems management software. Technology investors GE Equity and CDB Web Tech also invested in the round.
Eccord Systems, formerly Gecko Software, has been developing its core technology since 1996. It offers advanced service level management for large corporate enterprises and service providers and specialises in the monitoring of business critical IT services. Users of Eccord's service level management solutions include the United States Marine Corps, University of Michigan and Alliance Capital Management.
UK-based Pond Venture Partners also led Eccord’s first round of venture capital investment. “This second investment illustrates their continuing confidence in the service level management (SLM) opportunities for Eccord,” a company statement said. Pond’s chief executive Richard Irving explained: “The rapid adoption of systems management tools has created an exciting opportunity to bring more sophisticated, real-time reporting from multiple platforms to the service provider market”.
Eccord Systems has its headquarters in California and a research and development centre in London. The company was founded in 1996 as Gecko Software. In November last year it changed its name ‘to signify the company's commitment to the continual improvement in service quality provided by IT and service providers’.