Contact Information: Company Contact: Gary Damiano Host Analytics 314-588-2121 Ext 413
Host Analytics Raises First Institutional Round of Financing to Drive Business Expansion Initiatives
Capital Infusion to Accelerate Host Analytics' Growth in Emerging SaaS Corporate Performance Management Solution Category
| Source: Host Analytics Incorporated
ST. LOUIS, MO--(Marketwire - May 22, 2008) - Host Analytics, a leader in on-demand corporate performance management, today announced
it has secured a multi-million dollar investment in a Series A round co-led
by leading venture capital firms Advanced Technology Ventures and Trident
Capital. This round of investment is the logical consequence of a growing
market, a strong and diversified customer base and a market-tested product
now in its 8th major release. The capital will be used to fund aggressive
growth plans aimed at cementing Host Analytics as the leader in the Software as a
Service (SaaS) corporate performance
management category. In conjunction with the financing, Steve Baloff
of Advanced Technology Ventures and Evangelos Simoudis of Trident Capital
have joined the Host Analytics board of directors.
"Advanced Technology Ventures and Trident Capital have long track records
supporting highly successful emerging technology companies and we are
excited to have them join us," said Jim Eberlin, founder and chief
evangelist for Host Analytics. "The new capital will accelerate
marketplace adoption of our market-tested on-demand corporate performance
management solutions, which make strategic planning and budgeting more
flexible and cost-effective."
Founded in 1979, Advanced Technology Ventures has backed a number of
recognizable software industry and SaaS leaders, including Compassoft and
Cenzic. Trident Capital's investment approach has helped dozens of
technology companies, such as Qualys, SeaTab and Infopia. Advanced
Technology Ventures and Trident Capital each have over $1.6 billion in
capital under management.
"Software as a Service is transforming the software industry and opening
doors for new industry leaders," said Steve Baloff, general partner at
Advanced Technology Ventures. "Vendors such as Host Analytics, whose
solutions were built from the ground up with a on-demand based web
architecture, are best positioned to capitalize on the financial,
functional and technology benefits enabled by SaaS. We believe strongly
that SaaS is the future of software and that Host Analytics will be a
leader in the corporate performance management market segment."
"Corporate performance management has potential to be the next big Software
as a Service market," said Evangelos Simoudis, managing director at Trident
Capital. "It's critical for companies to have easy access to the changes
impacting their businesses, and the flexibility to alter budgets and
strategic plans accordingly. Host Analytics offers a truly differentiated
suite of solutions to address these needs. We expect Host Analytics to be
a disruptive force in the SaaS corporate performance management category."
Host Analytics' on-demand solutions help companies streamline their
financial reporting, consolidation, budgeting and forecasting processes.
Host Analytics solutions enable businesses to align the planning process
with their business strategies, and measure performance to manage change.
Host Analytics has demonstrated its commitment to customer success by
proving solutions that make corporate performance management more flexible,
cost-effective, and easy to perform.
About Advanced Technology Ventures (ATV)
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal venture
capital firm with more than $1.6 billion in capital under management. ATV
works closely with entrepreneurial teams in several technology markets,
including software and services, communications, IT infrastructure, clean
technology, medical devices, biotechnology, to build emerging-growth
business ventures into market leaders. With more than 25 years of
experience, ATV has a proven track record of success in helping to build
strong, sustainable business enterprises. For more information, please
visit our Web site at www.atvcapital.com.
About Trident Capital
Trident Capital is a leading venture capital and private equity firm with
over $1.5 billion of capital under management, including $400 million
raised in its recently-closed Fund VI. Trident focuses on investments in
the information services and software sectors across a variety of
industries. Within its sector focus, Trident invests across multiple
stages, including traditional venture capital investing as well as
investments in micro-cap public companies, buyouts and consolidation
platforms. The Firm has made over 100 investments since its inception.
Trident has investment offices in Palo Alto, Calif. and Westport, Conn. For
more information, visit the firm's website at www.tridentcap.com.
About Host Analytics
Host Analytics is the leading provider of on-demand corporate performance
management. Host Analytic's solutions help financial and departmental
executives improve their budgeting, forecasting,
financial
consolidations, dashboarding, scorecarding, reporting
and analysis. Founded in 2000, Host Analytics delivers its suite of
corporate performance management solutions via the Software as a Service
model. Host Analytics serves the enterprise, large and midsized company and
public sector markets including industry leading companies like JP Morgan
Chase, Procter & Gamble, Otis Spunkmeyer, Pitney Bowes, and Nortel
Networks. Host Analytics was included in JMP Securities' prestigious "Hot
100: The Best Privately Held Software Companies." For additional
information, visit http://www.hostanalytics.com/ or call (314) 588-2121.
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