Maple Grove IT Startup Nets More Than $9 Million
Maple Grove-based Crosscode Inc. has raised $9.25 million in private placement to boost its development efforts, the firm announced Tuesday.
The funds will be used to further develop Crosscode’s Panoptics platform, which is aimed at helping clients manage IT architecture, according to the company. Crosscode bills the platform as a “fully automated discovery, analytics, and governance solution.”
Mahmood Kahn, cofounder and senior vice president of customer success, says the Panoptics platform gives users a top-down view of their IT networks. (The platform’s name originates from the word “panoptic,” an adjective used to describe things that provide a comprehensive or panoramic view.)
Crosscode aims to raise $9.5 million in total, according to a May 23 filing with the U.S. Securities and Exchange Commission.
So far, 169 investors already have contributed, according to the filing.
The company aims to hire “a lot of good people” at its Maple Grove headquarters, Kahn says.
engineers, support engineers, project management.
“We want to hire the right people to help us grow,” he says.
The firm’s openings will include engineers, support engineers, project managers and more, according to Kahn.