Investment Round to Provide Continued Growth for Market-Leading Open Source
Enterprise Content Management Vendor
LONDON, Jan. 22 /PRNewswire/ -- Alfresco Software, Inc., the leader in
open source enterprise content management (ECM), today announced the
completion of a $9 million Series C round of financing led by SAP Ventures,
bringing total funding to $19 million. Existing investors Accel Partners
and Mayfield Fund also joined the round.
Alfresco will use the proceeds to fund continued growth into the
enterprise content management market, including product development and
acceleration of global expansion plans, particularly in the German, U.S.
and Asian markets.
"Enterprise Content Management is a well established and understood
category that is well suited for a business model innovation such as open
source," said Dr. Jorg Sievert, partner, Europe & Israel, SAP Ventures.
"Alfresco has emerged as the OSS leader in this category. In addition to
the enterprise-class quality of Alfresco's solution, we are particularly
impressed with Alfresco's management and take great pride in backing this
world class team."
"Accel Partners has a proven track record of investing in start-ups
with category-defining potential, such as our investment in Facebook. We
have been involved with Alfresco since its inception and have always
believed that the Alfresco team was capable of changing the content
management market and achieving a leadership position in open source in the
enterprise," commented Kevin Comolli, managing general partner, Accel
Partners and Alfresco board member.
"Along with software-as-a-service, open source is one of the innovative
models today in enterprise technology. Over just the past few years,
Alfresco has established a dominant position as the go-to solution for
enterprise document, Web and content collaboration. By building a
profitable business and a list of blue-chip customers, it has not only
proved the viability of open source as a business model, but has also
emerged as a threat to proprietary ECM vendors," said Robin Vasan, general
partner, Mayfield Fund.
Alfresco has seen major adoption of its open source ECM system
throughout the world with over 1 million product downloads, more than
20,000 active deployments and a customer base of more than 300 enterprise
accounts, including many Global 2000 organizations. These include five of
the top 10 investment banks, Electronic Arts, H&R Block and KLM, each of
whom are running Alfresco in enterprise-wide, mission-critical deployments.
Since being founded in January 2005, Alfresco's impact on the ECM
market and innovative product strategy has received several prestigious
industry awards, including the Red Herring 100 Global, Computerworld Honors
Program, Sand Hill Group Top Software Innovator and World Economic Forum
Technology Pioneer.
Mike Davis, senior analyst at Ovum, said "[Alfresco] has the technical
capabilities, and along with Microsoft is likely to be the most disruptive
player in the ECM market at the enterprise level in the next five years."
In December 2007, the company announced the latest release of its
software. With this innovative new release, Alfresco adds social computing
capabilities to its best of breed open source ECM platform.
http://www.alfresco.com/media/releases/2007/12/open_source_social_computing_platfo
rm/
"Alfresco is seeing mass adoption of its ECM platform in the Global
5000, and our growth is reminiscent of that experienced by SAP and Business
Objects in the early 1990s. Our investors have been delighted with the
capital efficiency of our open source business model. The additional
funding is in response to the high levels of customer demand we can see
over the coming 12 months," commented John Powell, CEO and co-founder,
Alfresco Software. "We will benefit a great deal from working more closely
with SAP; with several customers in common we recognize how important
robust content management is to these enterprises."
Alfresco can be downloaded from
http://www.alfresco.com/products/ecm/enttrial/.
About SAP Ventures
Since 1996, SAP Ventures has been investing in companies that offer
exciting new technologies and applications. Leveraging years of experience
and drawing on a network of powerful business relationships, SAP Ventures
helps entrepreneurs and management teams recruit the best people, make the
right technology decisions, win new business, and build their own partner
networks. The goal of SAP Ventures is to grow businesses that create
shareholder value for everyone involved. For more information, visit
http://www.sapventures.com.
About Accel Partners
Accel was established in 1983, and today invests globally with offices
in Palo Alto, California and London, as well as in China via the IDG-Accel
Partnership. With over $4 billion under management, Accel has helped
technology entrepreneurs build over 300 successful companies, many of which
have defined their categories. The Accel portfolio includes long-term
market leaders such as Macromedia, Veritas, RealNetworks, Foundry Networks,
UUNET and Polycom, as well as recent IPO's MetroPCS (PCS), Infinera (INFN),
ComScore (SCOR), and Riverbed Technologies (RVBD). Other investments
include Facebook, JBoss, Kayak, XenSource and Zimbra.
About Mayfield Fund
Mayfield Fund provides "venture capital with impact" by partnering with
exceptional individuals to create industry-leading companies. Mayfield has
domain expertise in communications/wireless, consumer/media, enterprise
software and semiconductors. The firm has over $2.7 billion under
management and a team of eleven investing professionals. Since Mayfield's
founding in 1969, the firm has invested in more than 470 high-growth
companies, taken more than 100 public and more than 150 have merged or were
acquired.
About Alfresco Software, Inc.
Alfresco Software, Inc. is the first and leading open source
alternative for enterprise content management. It is the first company to
bring the power of open source to the enterprise content management market,
enabling unprecedented scale and a much lower total cost of ownership than
proprietary systems. Founded by a team of content management veterans that
includes the co-founder of Documentum, John Newton, and former COO of
Business Objects, John Powell, Alfresco is based in London. For more
information, visit http://www.alfresco.com
SAP and other SAP products and services mentioned herein as well as
their respective logos are trademarks or registered trademarks of SAP AG in
Germany and in several other countries all over the world.
All other names mentioned are the trademarks of their respective
companies.
Any statements contained in this document that are not historical facts
are forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "may," "plan," "project,"
"predict," "should" and "will" and similar expressions as they relate to
SAP are intended to identify such forward-looking statements. SAP
undertakes no obligation to publicly update or revise any forward-looking
statements. All forward-looking statements are subject to various risks and
uncertainties that could cause actual results to differ materially from
expectations The factors that could affect SAP's future financial results
are discussed more fully in SAP's filings with the U.S. Securities and
Exchange Commission ("SEC"), including SAP's most recent Annual Report on
Form 20-F filed with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of their
dates.
Media Contact
Patricia Colby
Page One PR
415-875-7494
patricia@pageonepr.com
SOURCE Alfresco Software, Inc.
 back to top
Related links:
http://www.alfresco.com
CONTACT:
Patricia Colby of Page One PR,
+1-415-875-7494, patricia@pageonepr.com, for Alfresco Software,
Inc.
|
