Draper Fisher Jurvetson Leads Financing of Leading SOA and Web Services Management Company
LOS ANGELES, Calif.—June 12, 2006—SOA Software, the leading provider of comprehensive SOA and Web services management, security and governance solutions, today announced it has closed its latest round of financing with $11 million in new capital from Draper Fisher Jurvetson as well as its existing investors, Redpoint Ventures, Mellon Ventures, Paladin Capital Group and Palisades Ventures.
“We like to work with the clear winners and SOA Software has demonstrated the kind of leadership profile needed to succeed in this very promising market segment,” said Raj Atluru, the Draper Fisher Jurvetson partner who led SOA Software’s new round. “Over the next weeks and months you will see the company expand its presence in the marketplace, winning key enterprise accounts and further solidifying its position as the clear segment leader.”
SOA Software will use the proceeds to expand its technological foundation and continue to build its leadership position in the marketplace for SOA and Web services management, security and governance solutions. The company’s flagship product, the SOA Software Service Manager™, a Web services security and management platform, and its SOLA™ mainframe SOA suite, have been embraced by such Fortune 500 clients as Merrill Lynch and Verizon.
“This is a critical time in the evolution of the SOA market and the proceeds of this round will help us reach our goal of becoming the first publicly traded SOA infrastructure software company,” said Paul Gigg, president and CEO of SOA Software. “We are pleased to have Draper Fisher Jurvetson join us as their interest validates our view that SOA Software is taking the lead in a market space that IDC expects to grow to $7 billion by 2009.”
“SOA infrastructure is the key ingredient in any large enterprise’s SOA roadmap,” said Bradford Jones, a partner at Redpoint Ventures, which is a current and previous investor in SOA Software. “The fact that SOA Software’s product suite is now in the ‘must have’ category on so many SOA projects is a great indicator of how well this company has executed on their plan to date.”
About Draper Fisher Jurvetson
Draper Fisher Jurvetson is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and more than $3.5 billion in capital commitments. DFJ’s mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back approximately 300 companies across many sectors including such industry changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), 411 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID). For more information, visit: www.dfj.com.