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Dallas’ Aristos Ventures micro VC firm invests in Nimbix

Written by: Cody Crouch on December 12, 2014

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A Dallas micro venture firm has made its third investment from a fund of about $10 million in cloud computing software company Nimbix.

Aristos Ventures’ invested an undisclosed amount in a Series B round of funding for Nimbix that will range between $3 million and $5 million upon completion.

“They’re killing it,” said Felipe Mendoza, managing director of Aristos, adding that he met Nimbix in 2011 when it was in the Tech Wildcatters accelerator program. “So when they needed more financing, I was able to jump right in.”

Anna-based Nimbix, which also has an office in Dallas, plans to use the funds, along with the other monies the company receives during its fundraising, to scale its big computing business. Nimbix’s cloud provides computing power for companies to be able to handle big data.

Nimbix plans to hire about five more employees in sales, marketing and development in 2015. It also will expand its cloud to accommodate its growing client base. As a part of that growth, its planning to expand its Dallas data center and open facilities in Houston and parts of Europe and Asia.

“We have U.S. companies that have offices in different parts of the world,” said Steve Hebert, Nimbix CEO. “They want to serve their entire global team, and they want Nimbix to support those regions.”

The selling point for Aristos was the heavy focus Nimbix put on its software JARVICE this year. JARVICE, which stands for just applications running vigorously in a cloud environment, was named after Marvel‘s JARVIS computing system in “Iron Man.”

Nimbix said its capital raise is a result of the company’s sustained growth in the last several years. By the end of the year, the company, which generates under $10 million in revenue, expects to double its sales from 2013. In 2015, it expects to triple.

“They’re doing what they said they were going to do and performing above the plan,” Mendoza said. “With customer acquisition and revenue, they’re hitting all cylinders.”

Aristos previously invested in Plano-based Netsocket and Dallas-based ZenCash. The firm funds companies that are in various stages of development and plans to make seven to eight investments with this fund.

“It really is just a company that can run capital efficiently that doesn’t need $10 million,” Mendoza said about the companies he’s seeking.