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Enprise kicks off capital raising to fund cloud product growth

Enprise kicks off capital raising to fund cloud product growth

“It's a new product that is exploiting the world-wide trend toward IT and telephony resellers becoming telco, utility and hosting resellers."

NZX-listed Enprise has kicked off a capital raising roadshow this week in a bid to fund rapid global growth of its new cloud billing engine and customer self-service portal, Datagate.

Enprise Group CEO Mark Loveys says Datagate has the highest growth potential of all Enprise's businesses.

“It's a new product that is exploiting the world-wide trend toward IT and telephony resellers becoming telco, utility and hosting resellers,” he says.

“The international market for this product is extraordinarily large. We plan to raide capital to accelerate Datagate sales, implementation and development.”

Loveys says Enprise has four customer sites operating live, and two undergoing final installation of Datagate.

“This year we'll look to extend our sales efforts into international markets via our SAP Business One and MYOB network relationships,” he adds.

Phil Norman, of capital markets advisory firm CM Partnerrs, has been appointed advisor to the Enprise Group board to assist with the capital raising.

Loveys says the amount of investment sought initially is low, in the order of NZ$800,000, but with an emphasis on finding investors looking to the longer term.

Enprise shares have climbed more than 19 percent this year - it listed on the NZX alternative market (NZAX) last December.

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