Agitar Software Announces It Has Closed Its Second Investment Round Led by New Enterprise Associates.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--March 9, 2004 Respected Venture Capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. Peter Morris Will Join the Agitar Board of Directors Agitar Software, the leading innovator of Managed Developer Testing, announced today it has closed venture financing of $12.6 million with New Enterprise Associates (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ) as the lead investor. Other firms participating in the second round include Wilson Sonsini Investment Company, Amidzad II, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ., and Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. , which expanded its first-round investment. "We are excited to expand our board of directors with someone of the stature of Peter Morris," says Jerry Rudisin, Agitar CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President. "Agitar is on the way to redefining the economics of software development for both corporations and government organizations," he added. "With such an ambitious mission we will benefit greatly from his insight and experience, and from the backing and resources of New Enterprise Associates." "Even before meeting Agitar Software, we had identified automation of software quality as an important industry sector with enormous opportunity for innovation," says Peter Morris, General Partner at NEA. "Agitar Software has the breakthrough technology, the customer-validated solution, and the management team to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the opportunity. NEA is thrilled to become part of this team." "Financial Engines' advice technology platform delivers investment advice and portfolio management services for over 3.8 million 401(k) plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. ," says Michael Campbell Michael Shane Campbell CNZM (born February 23, 1969) is a New Zealand golfer who is best-known for having won the 2005 US Open and the richest prize in golf, the £1,000,000 HSBC World Match Play Championship, in the same year. He is a member of the European Tour. , VP of Engineering at Financial Engines. "We are keenly aware of the importance of software reliability software reliability - See also formal methods, safety-critical system. ftp://ftp.sei.cmu.edu/pub/depend-sw. Mailing list: depend-sw@sei.cmu.edu. and involving our software developers in the process of ensuring quality. We selected Agitar because it helps us significantly increase our control over software quality, engineering schedules and development costs." "Since we led the first round of financing 18 months ago, Agitar Software has made tremendous progress," says Doug Leone, Partner at Sequoia Capital and member of the Agitar board of directors. "It has created a world-class product and, more importantly, it is defining a new industry with Managed Developer Testing. Agitar solutions make it possible for the first time for organizations to be in full control of the quality of their software assets. The feedback from early customers confirms that Agitar is addressing a critical need." Agitar offers a pre-packaged Jumpstart program, to help organizations assess their current testing efforts and implement an effective Managed Developer Testing program. Within days, companies can assess the current quality of their software projects, set testing targets, implement developer testing, integrate existing unit tests, train developers and QA engineers, and set up an automated quality reporting portal. Within weeks they can enjoy the profound benefits of effective Managed Developer Testing. About New Enterprise Associates 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 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 140 have gone public and more than 150 have been acquired. NEA has offices in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , Reston, Virginia Reston is an internationally known planned community whose goal was to revolutionize post-World War II concepts of land use and residential/corporate development in American suburbia. and Baltimore, Maryland. For additional information, visit www.nea.com. About Sequoia Capital Since 1972, Sequoia Capital has provided startup venture capital for smart people who want to turn ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital has worked with Cisco Systems, Yahoo!, Redback Networks, Google, Network Appliance, PayPal, Cypress Semiconductor, Vitesse Semiconductor, Apple Computer, and Oracle. The companies funded by Sequoia Capital now account for about 10 percent of the value of NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on . To learn more about Sequoia Capital visit www.sequoiacap.com. About Agitar Software Agitar Software aims to revolutionize software economics by making Managed Developer Testing effective and economically compelling through a combination of automation and management visibility. Agitator ag·i·ta·tor n. 1. One who agitates, especially one who engages in political agitation. 2. An apparatus that shakes or stirs, as in a washing machine. Noun 1. , its flagship product, helps automate and manage the process of developer testing, the best way to improve software quality and slash software lifecycle costs. For more information, visit www.agitar.com. Agitar, Agitator, and Software Agitation are trademarks of Agitar Software, Inc. All other company names and products belong to their respective owners. Tel: 650-694-7572 www.agitar.com |
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