dynaTrace Completes $5 Million Series 'A' Round of Financing.Round Led by Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. Ventures to Meet Strong Customer Demand and Rapidly Growing Market LINZ, Austria & BOSTON -- dynaTrace software Inc., a leading provider of enterprise application performance diagnostic solutions, today announced that it has closed on its first round of venture financing for $5 million from Bain Capital Ventures. The financing validates dynaTrace's strong momentum and position in the rapidly growing market for application performance management. The funds will be used to accelerate the Company's sales, marketing, and product development efforts in both Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . In conjunction with the financing, Ben Nye, Managing Director, and Jit Sinha, Principal, will join the Company's Board of Directors. Ben Nye, Managing Director, Bain Capital Ventures said, "Customers have long considered the ability to trace a unique transaction path across multiple logical and physical tiers to be the holy grail Holy Grail: see Grail, Holy. A very desired object or outcome that borders on a sacred quest. There are several Holy Grails in the computer business. of application performance management. dynaTrace has found this 'next generation approach' for performance management and is the only solution that enables customers to move beyond monitoring and take corrective action A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or . We are eager to work with the talented founding team to quickly scale the dynaTrace organization, and meet the strong, pent-up customer demand for the Company's solution." This funding caps a number of significant milestones for dynaTrace over the past year that includes: * Launched dynaTrace Diagnostics in early 2006 * Gained adoption from leading enterprise customers such as ARZ ARZ Allgemeines Rechenzentrum GmbH (Innsbruck, Austria) ARZ Auto-Restricted Zone ARZ Aquatic Ruin Zone (Sonic 2 level) , DAK n. 1. Post; mail; also, the mail or postal arrangements; - spelt also dawk sp>, and dauk sp>. Dak boat a mail boat. Dak bungalow a traveler's rest-house at the end of a dak stage. - Percy Smith. , DB Systems, and T-Systems MMS (Multimedia Messaging Service) An enhanced transmission service that enables graphics, video clips and sound files to be transmitted via cellphones. Developed as part of the 3GPP project, MMS phones are generally backward compatible with SMS and EMS. * Undefeated against key competitors in head-to-head comparisons in customer environments * Significant revenue growth including establishing a sales presence in Austria, Germany, and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. "We are delighted to partner with Bain Capital Ventures to drive the next phase of dynaTrace's aggressive growth plans," said Bernd Greifeneder, founder and 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. , dynaTrace. "We evaluated a number of different financing alternatives and sought to partner with Bain Capital Ventures for their experience in scaling emerging companies with strong growth potential and their deep understanding of the application performance management market." "We believe this funding announcement marks the beginning of a big year to come in 2007. We expect to make a number of exciting announcements in the coming months about customers' adoption of dynaTrace Diagnostics, exciting new enhancements to our solutions, additions to our executive management team, further geographic expansion, and extensions to our partner ecosystem," added Bernd Greifeneder. About Bain Capital Ventures Bain Capital Ventures is the Boston-based venture capital arm of Bain Capital, whose affiliates manage over $37 billion of assets. Founded in 1984, Bain Capital and its affiliates have invested in over 230 companies with such notable successes as Doubleclick, Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. and Staples. Our history of investing in early stage companies also dates back to 1984, having made over 109 venture-stage investments since inception. In 2001, we formed Bain Capital Ventures as a separate arm of Bain Capital to focus exclusively on growth investments. Bain Capital Ventures manages approximately $1.2 billion under management. About dynaTrace software Inc dynaTrace software (www.dynatrace.com) is the leading provider of application performance diagnostics solutions for business-critical Java and .NET applications. dynaTrace's technology is the only solution that can trace a unique transaction path across multiple physical tiers and servers enabling customers to move beyond monitoring and take corrective action. In each stage of an application's lifecycle, from development, to QA, to staging, and through live operation, IT personnel want to see and understand where and why performance bottlenecks exist. With dynaTrace, IT personnel gain a better understanding of the dynamic behavior of the applications allowing them to quickly reconstruct re·con·struct tr.v. re·con·struct·ed, re·con·struct·ing, re·con·structs 1. To construct again; rebuild. 2. the problem transaction, identify the root-cause of the problem and fix it. |
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