6th Sense Analytics Raises $5 Million in Series A Venture Funding.
MORRISVILLE, N.C. -- 6th Sense Analytics, a pioneer in improving software development metrics, today announced it has raised (U.S.) $5 million in Series A funding to accelerate research and development and expand sales and marketing efforts. The latest round brings the total private equity raised to $6.7 million. Founded in 2004, 6th Sense Analytics offers a hosted software-as-a-service (SaaS) solution for automating the collection of metrics to gain visibility and control over software development projects that span multiple geographic locations. 6th Sense unveiled the latest version of its groundbreaking analytic solution today at the Launchpad for Emerging Technology, DEMO 07, in Palm Springs, California (6th Sense Analytics Launches New Solution at DEMO 07).
The financing was led by Core Capital, a Washington, D.C.-based private equity firm that provides capital to both early-stage technology ventures and small to mid-sized growth companies. Core Capital Managing Director, William Dunbar, will join the 6th Sense Analytics Board of Directors.
Intersouth Partners of Durham, NC also participated in the round. Intersouth, an early-stage venture capital firm, led the company's seed financing of $1.7 million in 2004.
"Core Capital has completed a number of deals in the analytics space and will bring deep domain expertise to the Board," said 6th Sense CEO, Greg Burnell. "We're also thankful to have the continued support of Intersouth Partners, our initial investor and a continued asset to our organization. Our first year of operation has validated our vision and direction as an organization. As a business process, software development has often been left to chance, and we're arming organizations with the insight they require to bring business discipline to software development."
According to a recent Duke University/Booz Allen Hamilton study, managerial control is one of the key challenges for organizations sending software development and other high-end processes offshore. 6th Sense helps organizations reclaim this managerial control by delivering factual data and providing full transparency into the execution of the software development process.
"6th Sense Analytics provides a simple and novel solution to the longstanding challenge of gaining visibility into software development processes," said William Dunbar, managing director for Core Capital. "Based on our experience in the market, we believe the opportunities for growth are significant, especially as more companies initiate complex software development projects."
The 6(th) Sense Solution
6th Sense Analytics is a powerful and unique SaaS solution for achieving accurate and consistent visibility across distributed software development projects. 6th Sense automatically and unobtrusively collects activity-based data from developer tools and delivers on-demand analytics to individuals and teams. This delivers insight into the time spent on specific activities, and provides a basis for understanding team effort, productivity and overall project velocity -- ensuring software development projects are on time, on budget and on target with business goals. All of this allows software development teams to improve their ability to deliver successful project outcomes, critical to the overall success of a globally distributed software development effort.
About 6(th) Sense Analytics
6th Sense Analytics, a pioneer in improving software development metrics, gives developers and managers deep insight into their software development process by delivering accurate metrics without interrupting the software development lifecycle or changing the tools used. The company uses an open and independent architecture that provides visibility into the status of distributed software projects. Founded in 2004 by a team of experienced executives in the software development market, representing companies including Rational (now IBM), TogetherSoft and Borland, 6th Sense Analytics is a privately held company based near Research Triangle Park, North Carolina.
About Core Capital
In business since 1999, Core Capital (www.core-capital.com) is a Washington, DC-based venture fund with over $350 million under management. The firm invests in a wide range of disruptive technologies, with a particular focus on telecommunications hardware and software, wireless applications, enterprise software, network security, e-commerce, logistics and tracking, energy and power management in addition to web and communications services. Core invests in both early-stage and later-stage companies. Sample portfolio companies include Sourcefire, NexTone Communications, InPhonic, buySafe, RoundBox, Trust Digital, Trinity Convergence, and IXI. To learn more, please email us at firstname.lastname@example.org.
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|Date:||Jan 31, 2007|
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