Ottawa's Nakina Systems has landed $US$2.25million in debt financing from
Toronto-based MMV Financial. Nakina provides network and service assurance
software to service providers and network operators.
Nakina plans to invest the money in expanding its R&D team to keep up
with expanding customer requirements.
MMV Financial was previously known as MM Venture Partners. It has recently
re-positioned and now focuses on debt financing for emerging and mid-market
companies in the technology and life science areas.
"We're making the investment in Nakina because their products solve real-life
headaches by simplifying how service providers manage their telecommunications
networks," Ron Patterson, executive vice president of MMV Financial, said in
"A service provider can deploy Nakina's software in its network and realize
a payback of its entire investment within just a few months. That translates
into substantial, compelling value for their potential customers."
"MMV Financial is emerging as a leader in this alternative type of funding
for high technology companies. Because of their experience in financing enterprises
in the high tech sector, they are able to quickly assess investment targets
in the interest of making timely decisions," says Nakina president and CEO
"We're very excited to have MMV as an investment partner."
Nakina has recently completed a sale to a Tier 1 U.S. Telecom service provider
and has trials in progress with similar companies in Canada and the United