Latest Investment Round led by Siemens Venture Capital
Boston, Mass.- July 19, 2004 - ManageSoft, The Software Management CompanyÂ™, today announced it has closed $13 million in Series B funding bringing its total funding raised to date to $28 million. The round was led by Siemens Venture Capital GmbH and reinforces the existing strategic relationship with Siemens Business Services, the international IT service company. Other investors included Technology Venture Partners, a leading VC firm in Australia, Atila Ventures/ETV, a European VC firm, and Deutsche Bank. ManageSoft plans to use the investment to expand its presence across the world and in new markets, including Asia, Canada and South America. The company also will continue to invest in research and development to further enhance the breadth and depth of its automated software management suite of products as well as expand its distribution channels and marketing communications.
"Siemens' first investment in ManageSoft was made by Siemens Business Services (SBS) in 2000. Since this initial investment, we have followed ManageSoft closely and believe its revenue growth and business potential are good indicators for continued success in the marketplace," said Bjoern Eske Christensen, president and CEO of Siemens Venture Capital.
Tom Hawkins, an investment partner with the Siemens Venture Capital Corporate Fund, added, "ManageSoft's uniquely designed client-centric architecture, strong customer base and seasoned management team make it a compelling investment opportunity for Siemens. ManageSoft's automated software management and business intelligence solutions address a real need in the market today by providing enterprises with the ability to off-load manual tasks and better streamline IT operations across the organization." Additionally, Mr. Hawkins will be joining ManageSoft's Board of Directors.
Currently growing at an annual rate of 66 percent through operations in the United States, Europe and Australia, ManageSoft has more than 100 employees and plans to add to this number significantly with this new investment.
"With more than 100 industry-leading customers worldwide such as ADP, DaimlerChrysler, JC Penney, KPMG and Total, ManageSoft is able to support multinational corporations at the enterprise level by delivering business intelligence to managed desktops, servers, and mobile computers throughout an organization," said Walter Elliot, CEO of ManageSoft. "This new capital will allow ManageSoft to open additional offices and extend its current infrastructure to maximize customer satisfaction around the world. Siemens has a strong and well-respected reputation throughout the world and will provide ManageSoft with a very strong partner in key new geographic markets and industry segments."
About ManageSoft 7.0
The ManageSoft suite, which includes ManageSoft 7.0, ManageSoft for Windows Deployment 7.0, ManageSoft IT Business Intelligence 7.0 and ManageSoft Security Patch Management 7.0, enables IT organizations to automatically deploy, update and manage business critical applications for fixed and mobile computers located anywhere in the world. Unlike server-centric products that introduce critical-points-of-failure into an enterprise IT infrastructure, the ManageSoft 7.0 client-centric architecture enables managed devices to dynamically adapt to changes in the IT environment though its policy-based management. A modular, integrated solution, ManageSoft 7.0 includes the necessary building blocks to enable companies to transform computers into self-managing devices, allowing organizations to choose the functionality they need now and add capabilities over time.