DMT Development Systems Group has raised capital in a growth equity financing round led by private investment firm Sageview Capital to expand the company’s suite of software products. Built on a multi-tenant SaaS platform, the softwares enables auto manufacturers and dealerships to efficiently generate and manage leads.
The company expects to hire more than 30 new staff for research and product development, and continue its international market expansion, including new offices in Europe and North America.
“This investment increases our ability to supercharge our R&D efforts and fast track the development of our industry-leading solutions in the area of real-time communication,” says DMT founder, Glen Demetrioff. “We believe that Sageview has the domain expertise, resources and shared vision to help us reach our goals for product evolution and market expansion.”
The financing marks the first outside funding in DMT’s 20-year history. As part of the investment, Sageview Capital partners Scott Stuart and Jeff Klemens have joined the DMT board of directors. Sageview will hold a minority stake in the company.
