Rimini Street raises another $15M for global expansion

Rimini Street also revealed it plans to announce a new managing director for Europe later this week.

Rimini Street continues to gain momentum as the Las Vegas-headquartered business has closed a new $15 million financing round with Silicon Valley financiers Bridge Bank.

See also: TBM startup Apptio raises $45M; plans to expand global footprint

Executives boasted the latest financing round has now completed more than twelve consecutive "record" quarters.

For reference, Rimini Street offers third-party maintenance support for enterprise software, especially from the likes of SAP and Oracle, touting cost savings up to 90 percent on total support costs over the span of a decade.

The private company plans to use the extra funding to extend its global footprint following previously announced plans for expansion in Brazil and the Asia/Pacific region.

CEO Seth Ravin also hinted at bigger future plans in prepared remarks:

As a high-growth, pre-IPO company that is rapidly expanding operations and serving a global client base, Rimini Street wanted to select a partner in this financing round that would provide a flexible, cost effective, and tailored solution to support our accelerating global expansion.

Rimini Street also revealed it plans to announce a new managing director for Europe later this week.

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