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Company News : Jama Software Raises $13 Million
on 2013/8/19 8:03:05 (563 reads)
Company News

Jama Software today announced it has closed $13 million in Series B funding led by Trinity Ventures with participation from Madrona Venture Group. The company will use the financing to double down on its category-defining SaaS-based approach to product management and delivery, expand its footprint in Europe and Asia, and develop deeper integrations with popular developer tools and enterprise applications.

The company, which has not taken institutional venture funding in its six year history, already has significant market penetration with more than 600 customers, including dozens in the Fortune 100, that rely on Jama to bring complex products to market. As part of the financing, Karan Mehandru, General Partner at Trinity Ventures, joins the Jama board.

"The demand we see for faster and cheaper ways to deliver products to market speaks to the growing complexity of today's software applications, smart products and IT systems. With the requirements, decisions and other details ranging in the thousands to millions within these projects, the business value we're able to provide our customers is accelerating rapidly," says Eric Winquist, CEO of Jama Software. "We are excited to work with Trinity and Madrona to amplify our focus on expanding our SaaS-based approach across the globe."

"The team at Jama has done a remarkable job of rising above the noise and winning hundreds of Tier 1 customers, who have in turn become advocates for the company. Having tracked the team and the market for a few years, we were impressed with the customer traction and even more excited about the prospect of helping the team extend their dominance and build a winning SaaS franchise," says Karan Mehandru, General Partner at Trinity Ventures. "At Trinity, we care deeply about our entrepreneurs and our role in helping them achieve their vision, and with this investment we are thrilled to work with such an outstanding team as their first institutional investor and partner for the road ahead."

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