Siperian Secures $25 Million in Expansion Funding
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Latest Funding for Master Data Management Software Leader to Support Additional European Expansion and Channel and Product Development
San Mateo, CA - January 23, 2008 - Siperian, Inc. - developer of the market-leading master data management (MDM) platform - today announced that the Company has closed an oversubscribed $25 million Series E financing. Led by new investor, Investor Growth Capital (IGC), and with participation from 100 percent of Siperian's existing investors, the funding will be used to continue the Company's European expansion, accelerate channel development and further advance the development of Siperian MDM Hub(TM). In conjunction with this financing, Noah Walley, Managing Director at IGC, has joined Siperian's Board of Directors.
"After comprehensive due diligence with both enterprise MDM users and industry analysts, it is clear that Siperian is the leading pure-play vendor in the rapidly growing master data management software market," said Noah Walley, IGC. "Investor Growth Capital is delighted to leverage its global network and experience in the software sector to help further establish Siperian as the pre-eminent worldwide brand for master data management."
Siperian's volume of business has more than tripled year-over-year from fiscal 2006 to 2007 and its customers include an expanding list of Global 500 companies in North America and Europe. The Company has also significantly expanded its partner ecosystem enabling its customers to leverage their existing investments, improve their return on investment and achieve faster time-to-value.
Organizations are increasingly relying on Siperian MDM Hub to create reliable, complete views of their customers, products and organizations and to make their data assets actionable within existing business processes. In fact Rob Karel, a Forrester Research Analyst, recently wrote about Siperian in a year end blog entitled, "Master Data Management 2007: The Year In Review."
To further acknowledge the Company's momentum, Siperian was recently named one of CMP's Intelligent Enterprise's 36 Companies to Watch for 2008. More specifically, Siperian's federated master data management platform was recognized for its technological leadership, strong hierarchy management capabilities and superior data governance.
"We are very enthusiastic about the latest funding from Investor Growth Capital and from the powerful endorsements we continue to receive from customers, analysts and the investment community," said Peter Caswell, President and CEO of Siperian. "Although the Company has achieved profitability, this additional funding will enable Siperian to extend its award-winning MDM technology to a wider range of geographies and industries and, more importantly, to continue developing superior products that meet our customer's complex business requirements."
About IGC
Investor Growth Capital (IGC) is the wholly-owned venture capital arm of Investor AB, a publicly traded industrial holding company, listed on the Stockholm Exchange. IGC was formed in the mid-1990s to invest in high-quality, growth-oriented companies, primarily in the IT and Healthcare industries. Today its 30 investment professionals are developing a portfolio whose value exceeds $800 million from offices located in New York, Menlo Park, Stockholm, Hong Kong, Tokyo and Beijing. Investor AB is a leading shareholder in a number of European multinational corporations, including ABB, Astra Zeneca, Atlas Copco, Electrolux, Ericsson and SEB. For almost a century Investor AB's business philosophy has been to build best-in-class companies in sectors where the group has strong knowledge and a networking advantage. IGC shares that approach and benefits from Investor AB's extensive global network of companies and senior managers.
To learn more visit www.investorab.com
About Siperian, Inc.
Siperian, Inc. is an innovative provider of the most flexible master data management platform. Siperian helps companies unify their critical data about customers, products and organizations- and delivers the most reliable, complete views of this data within existing business processes. Siperian MDM Hub(TM) offers the next generation of architectural flexibility for managing all types of master data with an integrated, model-driven software platform that adapts to your business requirements- and delivers rapid return on investment on critical projects today while evolving to a complete enterprise master data management platform. Siperian's approach enables rapid implementation and has earned the company its reputation for leadership and proven success by meeting the complex requirements of market-leading companies in Financial Services, Health & Life Sciences, High-Tech, Manufacturing, and Communications and Media. With corporate headquarters in San Mateo, California, Siperian has offices throughout the United States and in Toronto, Canada, and an EMEA office in London.
To learn more about Siperian visit www.siperian.com or call 1-866-747-3742.
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