Jul 18, 2013

Think Dynamics nets $11M in first round venture financing Published on July 12, 2001 Send this article to a friend. Name* Comments Submit Toronto-based Think Dynamics Inc., which creates resource management tools, finished its first round of venture capital financing, generating $11 million in proceeds. Think Dynamics was created by Brightspark Labs and became financing partners with CDP Sofinov, a subsidiary of CDP Capital (Caisse de dépôt et placement du Québec), OMERS (The Ontario Municipal Employees Retirement System) and Brightspark Ventures, L.P., the investment arm of the Brightspark Group. "Think Dynamics went out to the market at a time when people were still reeling from the tech meltdown," Harry Zimmer, CEO of Think Dynamics, said in a statement. "But we are confident about what Think Dynamics brings to the table from a technology standpoint. And I'm happy to say that our confidence was not misplaced. The market has recognized the tremendous potential of the Think Dynamics offering and has validated it with the success of this first round of funding. " The funds will be used for research and product development of its first product, ThinkControl, a line of resource management tools designed for IT infrastructure operations. The money will also be used to expand the firm in IT infrastructure market. "This financing was completed in the face of one of the most challenging financial market cycles ever for new technology companies," Rick Nathan, managing director of Brightspark Ventures, L.P., said in a release. Think Dynamics began in January 2001 to develop utility computing management software that delivers real-time capacity on demand for IT infrastructures.