Trinity Venture Capital has taken a first round stake in Dublin utility billing software firm LeCayla Technologies for an undisclosed sum. The funding will allow LeCayla to bring its Symmetry metering and billing software to market in time for an anticipated “sea change” in the computing industry brought about by the advent of utility computing.
Symmetry is the first software metering and billing infrastructure that allows independent software vendors (ISVs) to provide packaged software on a pay-as-you-go basis. This allows traditional software applications that are installed at a company’s site to be offered on the same commercial terms as web-served offerings.
“Utility or on-demand computing is the next sea-change in the computing industry,” said Conor Halpin, CEO of LeCayla.
“Customers clearly like the financial benefits of pay-per-use or pay-as-you-go pricing but are uncomfortable having their confidential data and systems hosted externally. LeCayla allows ISVs to offer their customers the best of both worlds. Pay-per-use pricing allows ISVs to offer significant savings to their customers while securing transparent and reliable annuity revenue for their shareholders,” he added.
According to Trinity, LeCayla brings together a highly experienced management team with significant commercial experience involving international sales and marketing, technology and financial skills. LeCayla was selected in 2003 by Enterprise Ireland as a high-performance start-up.
“LeCayla offers an innovative and exciting business proposition that clearly meets the emerging demand for on-demand computing,” said Rory Quirke, investment director with Trinity Venture Capital, who joins the Board of LeCayla. “Developments in grid computing and multi-core processors all point to the need for more flexible and granular pricing. We believe that LeCayla is uniquely positioned to service this need.”
By John Kennedy