Annoucing NTR Global, a $34M SaaS deal with Kennet

We just hit the wires with my latest foray into the wonderful world of entreprise software, NTR Global.  NTR Global is a Software-as-a-Service company that operates out of Barcelona and Dallas and has offices in all the major markets, selling remote support, access and admin solutions.

As you know I mostly focus on early stage digital media and e-commerce, but this was a deal I was extremely keen to do:

• Fantastic technology platform from tech visionary Joan Pons
• Proven commercial traction and fast growth
• Extremely impressive capital efficiency for a SaaS business
• Significant portion of the business coming from the US
• Great management team with strong US experience lead by Lluis Font

We are going to be disruptive on price, product and strategy with this one, particularly in the IT admin market, so watch this space.

For me (a) it's a great company to invest in and (b) it's good diversification from all the e-commerce and disruptive digital media work I have done.  Oh.  It's also clean teach really.  No more travel :-)

Max at Kennet has led this round.  Both he and I will be joining the board alongside fellow VC Xavier Lazarus.