Press Release
Top Venture Investors Endorse Instantis with $8.8 Million in Financing
- Investors Enthusiastic About Instantis’ On-Demand Software to Improve Enterprise Financial Performance Supporting Global Giants such as Credit Suisse, Verizon and Xerox -
May 17 , 2006 -- Santa Clara, CA—Instantis, the leading provider of on-demand software to manage CXO mandated initiatives that improve enterprise financial performance, today announdced that it has completed a round of financing of $8.8 million led by US Venture Partners (USVP). Existing investors JK&B Capital, Shea Ventures and others participated in the round as well. The funding was secured based on the growing adoption of Instantis EnterpriseTrack™ by leading Global 2000 companies worldwide, a strong product and technology, and accelerating revenues.
The new round of funding, which brings the total funding for Instantis to more than $30 million from leading venture capital, investment banking and Silicon Valley investors, will provide the company with cash reserves and growth capital to expand its customer base in the United States and globally.
“This latest round of funding is a testament to our leading product offering and strong business model,” said Prasad Raje, CEO and founder of Instantis. “We are delighted with the vote of confidence from our new and existing investors.”
“We chose to invest in Instantis because its proven and differentiated solution consistently has helped generate a strong payback for its blue-chip customer base,” said David Liddle, General Partner, USVP. “Instantis has demonstrated great traction in a growing market and has achieved solid, consistent revenue growth.”
Instantis Sets the Standard for Managing Performance Improvement
Instantis' flagship EnterpriseTrack™ product enables CXO's to assure that their strategic priorities are converted into visible execution by teams in the form of structured, trackable, manageable projects. EnterpriseTrack enables tracking of the financial and business metric impact of each project and roll-up, reporting and dashboarding against the strategic goals. EnterpriseTrack also provides a single enterprise-wide system-of-record for projects across multiple initiatives, teams, geographies and functions. With unmatched configurability, ease of deployment, ease of use, ease of administration and a comprehensive fourth generation feature set, EnterpriseTrack is in production deployment at more Global 2000 companies than any other comparable product.
Instantis customers span multiple industries including manufacturing, healthcare and services, and include market leaders like Abbott Laboratories, Cooper Cameron Corporation, Chemtura, Credit Suisse, Hexion, Ingram Micro, Quest Diagnostics, Shaw Industries, Sequa Corporation, Verizon, Xerox and many others. Over 75% of the companies that compare vendors choose Instantis over other options.
About Instantis
Instantis provides on-demand software to manage CXO-mandated initiatives that improve enterprise financial performance. Leading global corporations like Credit Suisse, McKesson, Xerox use Instantis software to manage initiatives like Six Sigma, Lean, Operational Excellence, New Product Development and others. With over $30M in funding from leading venture capital, investment banking, and Silicon Valley investors, Instantis has delivered a rate of over 200% annual growth for 2004 and 2005.
About US Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley-based venture capital firm dedicated to helping entrepreneurs build world-class companies that are leaders in their industry. USVP focuses on early stage opportunities in sectors where the Partners have the domain expertise, operating experience and network of relationships to provide meaningful contribution to the success of the enterprise. These sectors include digital communications and networking systems, internet and eCommerce infrastructure, semiconductors and optical components, enterprise and technical software, and medical devices and biopharmaceuticals.