San Francisco, CA (PRWEB) July 27, 2009
Astoria Software, provider of the world's first and most successful Enterprise solution for SaaS/On-Demand XML Component Content Management, has announced completion of a new financing round. The investment was led by Astoria investors, including Goldman Sachs, Prism VentureWorks, Blueprint Ventures and Ticonderoga Capital. The funding will be used to expand sales, marketing, customer service, SaaS operations and to target acquisitions of companies in the Content Management application arena.
Michael Rosinski, President and Chief Executive Officer of Astoria, said, "The continued investment by premier venture investors highlights Astoria's success, profitability and growth in the Component Content Management marketplace. Astoria is fortunate to have the largest Fortune 1000 customer base of any SaaS/On-Demand XML Component Content Management solution, and this funding allows us to expand the number of customers who enjoy a high level of satisfaction with the most innovative product and SaaS technology available in the market."
George Hoyem, Managing Director of Blueprint Ventures, added, "In this challenging business environment, investors are focused on backing their winners, and Astoria is clearly a winner." Mr. Hoyem further stated, "It was an easy decision to continue our financial support of Astoria. We like its position as the dominant SaaS provider in its target market, and we like how the Astoria team continues to add Fortune 1000 customers to their platform."
About Astoria Software
Astoria Software drives efficiencies in dynamic product documentation with on-demand delivery of structured content management. Northrop Grumman, ITT, and other Forbes Global 2000 manufacturers rely on Astoria to meet rigorous market demands -- increasing product volumes, accelerating time-to-market, and concurrent global customization. Astoria On-Demand reduces documentation costs up to 90% and compresses product launch cycles from months to weeks. Astoria Software is based in San Francisco, California. For more information, visit http://www.astoriasoftware.com.
About Goldman Sachs
The Goldman Sachs Group is a bank holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
About Prism VentureWorks
Prism VentureWorks is an early stage venture capital firm focused on disruptive segments in the Digital Media, Software & Services and Life Sciences sectors. The firm represents a committed team of early-stage investors whose industry operating heritage and domain depth make them valued partners among entrepreneurs and syndicates in building successful businesses. Founded in 1996, the Firm has approximately $1.25 billion in capital under management with offices in Needham, MA and Venice, CA. For more information, visit http://www.prismventure.com.
About Blueprint Ventures
Blueprint Ventures is a San Francisco Bay Area investment firm focused on technology start-ups including components, systems, and software/services. The firm works with exceptional entrepreneurs to deliver disruptive technologies to market in a capital-efficient manner. Blueprint is the industry innovator in leading Corporate IP spinouts by partnering with high-tech companies to commercialize their non-core, pre-revenue intellectual property. Blueprint's investment professionals provide significant entrepreneurial, operating, and investment experience to their portfolio companies. For more information, visit http://www.blueprintventures.com.
About Ticonderoga Capital
Ticonderoga invests in later stage business process outsourcing, healthcare business services and software as a service (SaaS) firms. It focuses upon companies with sustained revenue and proven gross margins. Ticonderoga seeks growth businesses, which have achieved a balance between sustainable growth and expense control. Its capital is typically used to accelerate revenue growth, make acquisitions, or provide liquidity to founders and existing shareholders. Ticonderoga is often the lead and first institutional investor, but also participates as a member of larger syndicates with other respected investment groups. Furthermore, Ticonderoga is often a minority investor thus it views its relationship with management crucial to its success. Therefore, its objective is to create long-term partnerships with exceptional management teams who are building growth businesses and require Ticonderoga's experience, knowledge, contacts and capital to maximize their success.
For more information, please visit http://www.ticonderogacap.com.
Astoria Software, Inc.