Quoting from the PlateSpin official announcement:
PlateSpin, Ltd today announced that it has closed an investment with Insight Venture Partners, a venture capital firm based in New York, N.Y. for Round B financing in the amount of $7.4 million US. The investment follows multiple consecutive quarters of double digit quarter-over-quarter growth and the milestone of surpassing the 500 customer mark. The proceeds of the investment will be used to further accelerate growth in software development, sales, marketing, and customer support. PlateSpin added an additional 162 new customers during the last quarter alone achieving a 95% increase in revenue over the previous quarter, recording the most revenue in any quarter to date and its first profitable quarter overall….