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On Wednesday, CEntrance announced that it has received an undisclosed
amount of funding in the form of a private investment. The company intends
to use a portion of the proceeds to build out the infrastructure for the
support of its key customers and will devote the rest to the ongoing sales,
marketing and product development activities, to further solidify its
market position.
"Although the company's financial model is based entirely on generating
recurring revenue, which is the most conservative fiscal approach, you
should not say no when new money comes in", noted Michael Goodman,
Managing Director of CEntrance. "Receiving a private placement in
the present economic environment serves to underscore the viability of
our business model and confirms the strength of our value proposition.
Our investors see the potential in our company and so do we", added
Michael.
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