Ohio-based NineSigma Inc., the tech solutions provider, closed a $2.5 million debt financing from BlueCrest Capital Finance LP, the firm announced Monday. Specifics on the transaction were not publicized. Cafferty & Company served as independent advisor to NineSigma on the financing. Prior investors include River Cities Capital Funds and Blue Chip Venture Co.
CLEVELAND, OH April 25, 2011 NineSigma, Inc., a leading provider of Open Innovation solutions to large, mid and small cap markets, today announced the closing of a $2.5 million debt financing from BlueCrest Capital Finance, L.P. NineSigma uses its proprietary methodology and extensive network and knowledge base to provide companies with the capabilities, innovation networks, and intelligence to achieve best-in-class results from their open innovation initiatives. The BlueCrest funds will be used to expand NineSigma’s current capabilities as well as to support the company’s accelerating growth.
“As a leader in Open Innovation, our goal is to define the next evolution of Open Innovation, which has become a growth accelerant for our Global 1000 clients and is now expanding to the mid and small markets,” said Andy Zynga, CEO of NineSigma. “BlueCrest Capital Finance recognized our leadership position in the rapidly growing Open Innovation space and desired to provide NineSigma with the capital that will allow us to increase the number of companies we serve worldwide and the breadth of solutions we offer.”
Based in Cleveland, Ohio, NineSigma is an Innovation Solutions firm that connects innovation seekers with innovators globally through its network of more than two million solution providers, the largest global network of its kind. NineSigma helps companies from small cap to the Global 1000 engage with the global innovation community and enable their organizations to more effectively adopt external knowledge and resources. This Engage and Enable strategy results in the accelerated sourcing and implementation of new ideas, the discovery of new technologies and the launch of new products. Companies such as Kraft, Philips, L’Oreal, Unilever, Denso and Suntory utilize NineSigma’s open innovation services to solve immediate challenges, fill product pipelines and integrate new knowledge and capabilities into their organizations. NineSigma’s global network of solution providers and extensive database of existing solutions spans all industries and technical disciplines. The company has operations in the United States, Europe and Asia. Learn more about NineSigma at http://www.ninesigma.com/.