The Ghent growth company Itineris, which supplies software for utilities, has brought in entrepreneur Marc Coucke as an investor. Coucke is investing 16 million euros in the company through his investment holding Alychlo, it was announced today. Itineris wants to use the capital increase for “strategic acquisitions”.
Itineris – which has been in existence since 2003 – supplies software that allows water and energy companies to manage their meter reading and billing, among other things.
With the investment, Itineris aims to grow further in Europe and the United States. “Since we successfully launched our software solution UMAX at the New York water utility in November 2021, we have seen a strong growing interest from other U.S. utilities to work with us,” said Edgard Vermeersch, founder and CEO of Itineris, in a statement. press release. “In the first quarter we again won two important cities. The potential in the US market is huge and we are eager to take full advantage of this.”
Impressed
Coucke says he is impressed with Itineris’ course so far. “Moreover, there is still enormous potential for further growth. If you, as a Belgian player, can break through in the US and successfully launch your software in a city like New York, with a population of nine million, that means something,” he says.
Itineris has offices in Belgium and the US. The company has more than 400 employees. The annual turnover grew by almost a quarter in 2021 to more than 60 million euros.
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