# PowerTech Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/powertech-group

- Industry: Software
- Headquarters: Eden Prairie, US
- Website: www.powertech.com
- Total disclosed funding: $4.3M
- Latest round: Series B (Jan 15, 2002)
- Investors on record: 3

## About

PowerTech Group Inc. specializes in providing cybersecurity solutions for IBM i, Linux, and AIX environments, focusing on data protection and compliance.PowerTech Group Inc. develops cybersecurity products focused on IBM i systems and was acquired by Help/Systems, a portfolio company of Audax Group, in August 2008. The company is headquartered in Eden Prairie, US. The latest funding round was Series B, amounting to USD 4.30 mn, raised from investors including Bluestem Capital Company, Garage Technology Ventures, and SeaPoint Ventures, bringing the total raised to USD 4.30 mn. The company has completed 2 deals to date.PowerTech offers a comprehensive suite of cybersecurity products designed for IBM i, Linux, and AIX systems. Key offerings include Powertech Antivirus, Powertech SIEM Agent, and Powertech Multi-Factor Authentication, which help organizations protect their data from malware, monitor system integrity, and manage user access, ensuring compliance with regulations such as PCI DSS and HIPAA. The company serves a wide range of clients, from small businesses to large enterprises, across North America, Europe, and Asia.PowerTech generates revenue primarily through the sale of cybersecurity products and services, which are often structured as subscription-based models or licensing agreements. Clients typically purchase annual subscriptions for software licenses, benefiting from ongoing updates and support, which fosters a recurring revenue stream. Notable products like Powertech Compliance Monitor and Powertech Encryption demonstrate PowerTech's focus on tailored security solutions that facilitate compliance and enhance security management.Looking ahead, PowerTech is focused on developing new products to address emerging cybersecurity threats and plans to expand its market presence in Europe and Asia by 2025. Recent funding from the Series B round, completed on August 18, 2008, will be allocated towards enhancing product development and entering new geographic markets, ensuring the company meets evolving client needs and compliance requirements.

## Funding rounds

- Series B, Jan 15, 2002, $4.3M — Bluestem Capital Company, Garage Technology Ventures, SeaPoint Ventures

## Investors

- Bluestem Capital Company (https://capitalatlas.ai/funds/bluestem-capital-company) — Series B
- Garage Technology Ventures (https://capitalatlas.ai/funds/garage-technology-ventures) — Series B
- SeaPoint Ventures (https://capitalatlas.ai/funds/seapoint-ventures) — Series B