What NetPro was good at is helping organisations get more (a LOT more) out of Microsoft Active Directory. Its platform basically layers auditing, policy management, backup & recovery, and sophisticated analytics on top of AD -- useful stuff for frustrated IT managers trying to handle large AD implementations.
As a company, NetPro is a classic example of the kind of growth business we like:
- Highly capital-efficient: the company had raised a total of $6m in the 1990s prior to our investment in 2004.
- Run by a management team with the right level of real, operational experience for this size of company, headed up by industry veteran Kevin Hickey.
- Not part of the Silicon Valley hype zone: NetPro is based in Phoenix, AZ. By the way, the Southwest is home to many good tech companies, that are much underappreciated.
- Focused on continuous profitable growth: NetPro was profitable since before we invested in 2004, and gew revenues more than 4x during our holding period.