Seanodes (France) - Dec 2007

Seanodes, a publisher of software solutions for Linux clusters, has raised €4.2m from new and existing investors. Elaia Partners, the leading participant of the first round, organised this second financing, alongside first-round co-investor IRDI, and invited newcomers 123Venture and Galia Gestion to take part. The financial backers have a combined majority stake in the business. Elaia and IRDI first invested €2m in two tranches in 2004.

Company

Founded in 2002, Seanodes is a software publisher offering data storage solutions in Linux systems. The firm’s R&D department is based in Toulouse, while its headquarters are in Paris. Seanodes has received €1m in state subsidies, including €450,000 prize money won in 2003 at the CETI contest organized by the Ministry of Research and ANVAR. The firm is negotiating partnerships with US based integrators and constructors, for deployment on that market. The company intends to use its new equity to strengthen its R&D team and boost product sales.

People

Xavier Lazarus worked on the transaction for Elaia Partners, with Jean-Luc Rivière representing IRDI. Olivier Goy was in charge of the deal for 123Venture, while Yves Bardinet worked on behalf of Galia Gestion. Jacques Baldinger is Seanodes’ CEO.

Advisers

Equity - D’Alverny Demont & Cie, (Legal)

Sourced from: France unquote" 87 (Jan 2008)

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