This morning, before the bell, Simtrol announced that it appointed David Strickland as its new chief technology officer. Previously, Mr. Strickland was the senior vice president of Development for Swingvote, Inc., a shareholder material communication company and electronic voting platform, and director of Technology for Singlecast Technologies, a provider of compliance and supervisory technology to support Sarbanes-Oxley regulatory requirements. He also held management positions within Manhattan Associates (NASDAQ: MANH) and M&M/Mars Snack Foods.
“David is a significant addition to our leadership team,” said Oliver Cooper, Simtrol Chief Executive Officer. “His expertise in scaling technology organizations will be invaluable to Simtrol as we expand our ability to enable enterprises to more efficiently manage their extended networks.”
In the same press release, the company also announced that it has closed additional financing for $1.4 million of private placement equity to accredited investors. The private placement contains Series C preferred stock and warrants to purchase common stock and raises the company’s total proceeds from its current offering to $4.1 million.
“We are pleased to have attracted additional capital during these challenging market conditions,” stated Oliver Cooper. “Investors have reacted positively to Simtrol’s business plan and market opportunities, and we will use these funds to further accelerate our sales, marketing, and operations efforts in key vertical markets.”
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