San Mateo, CA, Feb. 16, 2004 -
Above All Software, an innovator of point-and-click software
for the rapid assembly of composite applications, announced
today it has closed venture financing of $11.15 million
with Greylock, one of the country's most renowned and
respected venture capital firms, leading the second round
of funding. The additional funding, which was a significant
up round, is further demonstration that Above All Software
is providing companies with a new way to deliver integrated
solutions that previously could not be cost-justified
with traditional technologies. Previous investors JP Morgan
Partners, Granite Ventures, Adobe and SipplMacdonald Ventures
have all reinvested in this second round, as well. In
conjunction with the funding announcement, Above All Software
will also expand its team with the addition of Aneel Bhusri,
from Greylock, to its board of directors. Above All Software
intends to use the additional funding to expand sales
and marketing.
Bhusri joins Above All Software with years of experience
at PeopleSoft, where he is currently a board member and
served as vice chairman until 2002 after several years
as the company's senior vice president in charge of product
strategy, business development and marketing. "Companies
today are watching their bottom line closer than ever,
and are looking for solutions that help them streamline
and optimize their existing technology," said Bhusri,
General Partner for Greylock. "Above All has created
a solution that accesses, integrates, and simplifies the
40 years of technology investments companies have made
in a way that hasn't been possible before. Above All is
redefining how companies use technology to rapidly respond
to new opportunities."
Above All Software's suite of products allows IT and
business analysts to easily assemble new applications
from existing software applications. These composite applications
combine functionality from multiple existing application
"silos" and power business tasks that span across
multiple business functions. The result is that users
can complete their business tasks without having to navigate
numerous applications, enter the same data multiple times
or wait on personnel from other functional areas to provide
needed information or coordination.
Above All Software is working with customers in a variety
of industries such as health care, government, and telecommunications.
The diverse requirements of these companies validate the
broad relevance and flexibility of the Above All suite
of products.
"We are delighted that Above All has attracted support
from Greylock while also securing continued commitment
from our current investors," said Roger Sippl, president
and CEO of Above All Software. "We are building a
wonderful software company that is creating an innovative
new class of application integration solutions. The appointment
of Aneel is a great addition for me, personally, because
I very much enjoyed working with him on the Vantive board
in the 90's," said Sippl.
Founded in 1965, Greylock is one of the
world's leading early-stage venture capital firms. Over
the past 38 years, Greylock has funded and helped build
several hundred successful companies in the US, Israel
and Europe. The Greylock approach uniquely puts the entrepreneur
first, with Greylock working as an 'invited guest' in
a highly supportive yet consultative way to help entrepreneurs
build market-leading companies. Companies Greylock has
funded include Ascend Communications, Continental Cable,
DoubleClick, Internet Security Systems, Legato, Millenium
Pharmaceuticals, Phone.com (now OpenWave), Tellabs, Trilogy,
Red Hat and Sungard. Greylock's offices are located in
the Boston area and in Silicon Valley. For more information,
visit www.greylock.com.
About Above All Software
Above All Software is pioneering point-and-click
software that enables the rapid assembly of composite
applications that are based on existing information resources
such as enterprise applications, legacy systems and database
procedures. With no programming and no changes to existing
systems, both business and technical users can assemble
solutions that integrate critical business functions like
sales, finance and manufacturing. Above All Software was
founded by Roger Sippl who also founded Informix and Visigenic
Software and co-founded The Vantive Corporation. Above
All Software is based in San Mateo, California and backed
by a leading group of investors that include Greylock,
JPMorgan Partners, Granite Ventures, Adobe and SipplMacdonald
Ventures.
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Press Contacts
Craig Priess
Above All Software
650.341.4600 ext. 105
Greylock Leads New Funding Round
For Innovative Composite Application Technology