nGenera (Moxie Software) Corporation Secures Series C Funding Round
Company to pursue market opportunity of bringing power of web 2.0 style collaborative applications into the core management processes of large, global enterprises
Austin, Texas – May 5, 2009 — nGenera Corporation™, maker of a unique platform of Collaborative Enterprise Management (CEM) solutions, today announced it has secured $10 million in a new Series C financing round. Participants in the initial close of the round include Foundation Capital and Oak Investment Partners. This additional funding enables the company to increase its product development and expand the sales of its CEM solutions.
With a growing customer base and a portfolio of on demand applications, executive insight, and education, nGenera is well positioned to capitalize on the growing demand for CEM solutions to deliver significant productivity growth and profitable customer experiences in global companies.
According to Forrester Research’s Collaboration and Web 2.0 Technology Adoption, Q4 2008, more than 60% of firms surveyed are implementing or upgrading existing implementations of collaboration software in next 12 months. Moreover, their research entitled The State Of Real-Time Collaboration. In 2009 supports this conclusion, stating that seven of every ten firms surveyed are planning to invest in enterprise collaboration in 2009.
“The additional funds will enable nGenera to accelerate the development our Collaborative Enterprise Management solutions, as well as to strengthen and expand our sales infrastructure,” said Steve Papermaster, Chairman and CEO of nGenera Corporation. “We are confident that bringing the power of web 2.0 collaboration into the core management processes of large, global enterprises is the way companies will achieve greater efficiencies both within their organization as well as across organizations boundaries.”
Collaborative Enterprise Management represents the next big leap in management process. The last leap was Enterprise Resource Planning (ERP), with the adoption of ERP processes and technologies triggering a major wave of business innovation, productivity, and growth, by improving the repetitive, accounting and transactional information flow in organizations and their supply chains. With the leap to CEM, an ever-increasing number of management decisions must allow for non-repetitive processes that require the collective experience from a group of people, drawing from the data that exists inside and outside of the company’s ERP and other transactional systems.
“nGenera’s CEM Solutions delivers new ways of working and engaging customers through the web that we wrote about in Wikinomics,” said Don Tapscott, author of the best-selling Wikinomics and Grown Up Digital. “What nGenera has done is to combine the collaboration platform and applications with the expertise and education that experience is showing are necessary for companies to maximize return on investment.”
nGenera drives productivity and business velocity by deploying on-demand Collaborative Enterprise Management (CEM) solutions in the world’s largest organizations. These innovative solutions combine nGenera’s collaborative applications, executive insight, advisory services, and education to deliver critical business outcomes in marketing, sales, IT, HR and operations.