Product category: Design and Development Software
News Release from: Verum
Edited by the Electronicstalk Editorial Team on 11 January 2006
Verum completes startup phase
Verum Consultants has closed its first funding round with investments from international bank ABN Amro and the Dutch Government
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Based in the Netherlands, Verum's expertise brings predictability to embedded software development. Its Analytical Software Design (ASD) service solution delivers measurable improvement in critical areas of software development, including time to market, product quality and product cost. The application of Verum's ASD services to a customer's software development project results in a 90% reduction in defects, a 30% reduction in development costs and a 30% cut in project duration.
Verum has secured Borgstellingskredit funding, awarded to demonstrably innovative high tech businesses.
SenterNovem, the Dutch Government agency for innovation and sustainable development, ratifies the award.
The Eur 0.5 million funding is a third funded by ABN Amro and two thirds by the Dutch Ministry of Economic Affairs.
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Increased reliance on embedded software in electronic products gives rise to three degrees of failure
Seminar fouses on predictable software design
Verum Consultants is sponsoring a seminar on "Predictable software design in business-critical systems" in Amsterdam on 22th September 2004
'Verum's management has shown the knowledge and perseverance to realise ground-breaking ideas'.
'ABN Amro believe it's important that such innovations are backed and that's why the bank is more than willing to invest'.
'The Borgstellingskredit is an excellent funding vehicle, both for the entrepreneur and the bank'.
'The ABN Amro is currently the leader in securing this sort of funding for small and middle sised businesses', said Jan Denis from ABN Amro Eindhoven.
Verum will use the new investment to continue to roll out its ASD service offering to original equipment manufacturers in Benelux and the UK.
Its target markets include the original equipment, automotive, medical and telecomms markets.
Its blue chip customer list includes Philips Medical Systems and the FEI Company, the world leader in nanoscale 3D characterisation.
'This is a significant deal for Verum by completing our startup phase'.
'This funding provides a solid platform to grow the service component of our business', said Robert Howe, CEO, Verum Consultants.
'Software is ubiquitous - and its complexity increasing'.
'Cutting costs to create working, bug-free code has become a huge challenge'.
'Verum provides a unique solution and we see this as a massive market opportunity', Howe concluded.
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