DreamFactory Raises $5.8 Million in Series A Financing With NEA

Scott Sandell and Paul Hsiao Join DreamFactory's Board of Directors

May 08, 2006, 01:00 ET from DreamFactory

    LOS ALTOS, Calif., May 8 /PRNewswire/ -- DreamFactory, a leading
 provider of adaptive on demand applications, today announced a $5.8 million
 Series A round of funding led by New Enterprise Associates (NEA). The
 funding will enable DreamFactory to expand the company's sales and
 marketing operations as well as product development teams.
     Scott Sandell, a NEA General Partner and Paul Hsiao, a principal at
 NEA, have both joined DreamFactory's board of directors. Sandell and Hsiao
 add to the strength of DreamFactory's board, with diverse investment
 experiences spanning companies like WebEx, Cassatt Corporation and NetIQ.
     DreamFactory's patent pending technology fundamentally changes the way
 organizations manage the application lifecycle with their cross functional
 business processes. Before DreamFactory, companies have had to choose
 between either a rich custom experience or agile deployment, but not both
 at the same time. The conventional option was packaged software solutions
 that were feature-rich but expensive and complex to deploy and manage. The
 progression to on-demand solutions has offered dramatic improvements in
 deployment, maintenance free delivery, and a business model that fosters
 customer success. However, there have been trade-offs in this breakthrough
 with respect to user experience and accommodating unique business
     DreamFactory solutions combine the agility of on-demand solutions with
 the fit and richness of customized packaged software. A key ingredient to
 delivering highly adaptive applications is DreamFactory's customer driven
 innovation (CDI) practice. For example, a simple yet powerful "suggestion
 box" technology is integral in every DreamFactory application allowing
 companies to easily and quickly communicate desired changes to our
     DreamFactory's President, Eric Rubin, says "We added a dozen new
 features in the first 30 days to our flagship product, DreamTeam -- 100% of
 which came directly from customer suggestions made using our suggestion box
 technology. This process of customer-driven innovation lets us deliver
 extremely functional and rich applications that are highly tailored to our
 customers' needs."
     "DreamFactory has driven outstanding business growth by offering
 compelling on-demand solutions on salesforce.com's AppExchange that address
 specific customer needs," said Marc Benioff, chairman and CEO,
 salesforce.com. "DreamFactory's innovative on-demand development style is
 producing exciting new types of applications that harness the power and
 potential of The Business Web."
     "We are obviously very impressed with the tremendous customer adoption
 of the rich user interface applications, but even more-so with
 Dreamfactory's commitment to customizing and refining the technology to
 meet customer demand," said Paul Hsiao, principal, NEA. "I see this level
 of service as being key to winning in today's software market; and am
 delighted to work closely with Eric and Bill on this project."
     About DreamFactory
     DreamFactory delivers rich internet applications that combine the
 agility of on-demand delivery with the custom fit of traditional enterprise
 software. We offer highly functional solutions that are quick to deploy,
 inexpensive to maintain, and continuously improving with customer driven
     DreamFactory's flagship applications are DreamTeam, a project
 management solution and OrgView, which rapidly builds, views, and drills
 down on highly graphical organization charts. Both are targeted to
 Salesforce.com users. DreamFactory also sells their namesake development
 platform to allow organizations to rapidly develop their own customizable
 on-demand solutions.
     For more information contact DreamFactory at 1-888-399-DREAM (3732) or
 on the web at http://www.DreamFactory.com.
     About NEA
     New Enterprise Associates (NEA) is a leading venture capital firm
 focused on helping entrepreneurs create and build major new enterprises
 that use technology to improve the way we live, work and play. Since its
 founding in 1978, the firm has followed the same basic principles: support
 their entrepreneurs, provide an excellent return to their limited partners
 and practice their profession with high standards and respect. Practicing
 classic venture capital for over 25 years, NEA focuses on early stage
 investments, playing an active role in assisting management to build
 companies of lasting value. With $6 billion under management, NEA's
 experienced management team has invested in over 500 companies, of which
 more than 150 have gone public and more than 200 have been acquired. NEA
 has offices in Menlo Park, California, Reston, Virginia and Baltimore,
 Maryland. For additional information, visit www.nea.com.

SOURCE DreamFactory