Leader Ventures Supports CollabNet with $5 Million in Venture Debt to Accelerate Growth
MENLO PARK, Calif., March 16 /PRNewswire/ -- Leader Ventures, an investment firm offering blended debt and equity financing announced today that they have provided $5 million of financing to CollabNet, the leader in Agile application lifecycle management (Agile ALM).
CollabNet TeamForge is the industry's only open and integrated ALM platform built specifically for distributed teams. It allows customers to manage all phases of the software development lifecycle using a cloud based architecture, enabling all stakeholders to collaborate on ALM software from requirements through release.
"CollabNet is an innovative company with a tremendous software development solution," said Patrick Gordan, managing director at Leader Ventures. "We look forward to CollabNet continuing to drive innovation, develop even better solutions for distributed development teams and remain the leader in distributed application lifecycle management."
"Leader Ventures has been a great partner for CollabNet. From our first meeting, they recognized the market opportunity that CollabNet could accelerate by providing leveraged capital into our business model," said Bill Portelli, chief executive officer at CollabNet. "Since we added this leverage, CollabNet has had a string of record quarters and acquired Danube, the leader in Scrum Management solutions. Our recent acquisition is being recognized by the industry as a significant event for the future of software development and a prime example of the strategic value we continue to bring to our clients and the market."
About CollabNet
CollabNet leads the industry in Agile application lifecycle management (Agile ALM) in the Cloud. The CollabNet TeamForge ALM platform, CollabNet Subversion software configuration management (SCM) solution, and ScrumWorks project management software enable teams using any environment, methodology, and technology to improve productivity up to 50% and to reduce the cost of software development by up to 80%. Millions of users at more than 2,500 organizations, including Applied Biosystems, Capgemini, Deutsche Bank, Oracle, Reuters, and the U.S. Department of Defense, have transformed the way they develop software with CollabNet. For more information, visit www.collab.net.
About Leader Ventures:
Leader Ventures is a private investment firm providing blended debt and equity financing to a diversified portfolio of private and public companies. With offices in San Francisco and Menlo Park, the firm invests primarily in the U.S. and employs a variety of loan plus equity structures to invest in companies at different developmental stages, across diverse industry segments. For more information, please visit www.leaderventures.com.
Leader Ventures PR Contact: |
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Paulien Ruijssenaars |
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650.279.8957 |
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SOURCE Leader Ventures
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