BlueCat Networks, a provider of enterprise-class IP Address Management (IPAM) platforms, has closed a US $11 million round of venture finance led by Menlo Park, California based Bridgescale Partners and with participation from TD Capital.

LaBarge Weinstein Professional Corporation and McCarthy Tétrault LLP provided legal advice on the transaction.

BlueCat Networks will use funds from its first institutional venture round to further enhance its award-winning product line and continue the expansion of its global distribution network.

Founded in 2001, BlueCat Networks offers Enterprise-Class IP Address Management (IPAM), DNS and DHCP platforms in the form of secure, reliable and scalable physical and virtual appliances. BlueCat's solutions provide organizations with the visibility, management and control they require for their IP infrastructure, including DNS and DHCP. BlueCat's solutions are DNSSEC and IPv6 ready.

"As businesses of all sizes continue to populate their networks with many different devices, the demand for software to manage the growing number of associated IP addresses will naturally increase," commented Chaplinsky, Managing Director of Bridgescale Partners. "As the leading global provider of IPAM solutions which has already sold thousands of licenses to enterprises and ISP's, BlueCat is ideally positioned to meet the increase in global demand for IPAM. We are pleased to make BlueCat our first investment in Canada as it complements our existing portfolio of category-leading technology companies, and are confident we can help BlueCat continue its stellar growth trajectory."

"When looking at potential investors, Bridgescale stood out based on its strong Silicon Valley relationships and deep investment expertise," said Michael Hyatt, CEO and co-founder of BlueCat Networks. "We have been working with Bridgescale for a short while, and in that time their investment team has delivered significant business value – reinforcing the fact that Bridgescale is the right investment partner to help enhance our position as a leading global networking software provider. Having just completed a record sales quarter, we are confident that our work with Bridgescale will help further drive our rapid expansion worldwide."

BlueCat Networks is Bridgescale's first Canadian investment since Bridgescale's announced expansion into Canada in June 2009. Bridgescale is also currently an investor in Cortina, a semiconductor company with a large development center in Ottawa and Proofpoint, which also maintains a Toronto office from its acquisition of Fortiva in 2008.