Capriza Raises $27 Million in Series C Funding Round
(PRWEB) October 30, 2014 -- Capriza announced today that it has closed its Series C round of funding in the amount of $27 million. This new round consists of expanded participation from existing investors Andreessen Horowitz and Charles River Ventures (CRV) as well as new investment from Tenaya Capital. Harmony Partners and Allen & Company also participated in the round. Capriza will use the funds to scale its business operations in order to accommodate increased customer demand, accelerate market penetration, and enhance the product offering for its growing installed base of industry-leading customers.
Capriza addresses a major enterprise challenge of migrating existing business applications to mobility. Its SaaS solution disrupts the economics and speed of taking enterprises mobile. With its patented zero coding, zero integrations, and zero upgrades needed, taking customers mobile is an order of magnitude faster and more cost effective than traditional methods.
“Capriza’s breakthrough approach to mobile applications gives enterprises 10X more mobility at less than 1/10th the cost. As an investor, that got me extremely excited,” said Ben Horowitz, Capriza board member and general partner and co-founder of Andreessen Horowitz, one the top venture capital firms in Silicon Valley.
Capriza has experienced strong uptake and tremendous success with blue chip companies and is rapidly expanding its customer base with numerous brands, including Brocade, DIRECTV, Marvel, and Olympus to name a few.
“The current business applications landscape is undergoing a massive transition from complex, desktop-based applications into highly personalized, snack-sized, contextual business apps that enable modern workforce mobility. Existing business applications suffer from poor user adoption and were never designed with mobility in mind. Capriza is the only all-inclusive SaaS solution capable of transitioning businesses to mobility — quickly and affordably,” stated Yuval Scarlat, Capriza’s co-founder and CEO. “We’re incredibly humbled by the market response to our offering and investors’ confidence in our journey and are excited to accelerate our market reach with this additional capital.”
Capriza is addressing a tipping point that enterprises face today. Mobile-driven workers demand mobile apps that are simple, fast performing, easy-on-the-eyes and deliver the right information and insight needed to act fast and transact business efficiently. Yet there’s a growing gap between mobile workers and what companies are currently delivering -- or failing to deliver.
“It’s clear that Capriza’s SaaS offering fundamentally disrupts the speed and economics of taking businesses mobile. Capriza’s unparalleled approach enables companies to catapult into the modern mobile era, at a fraction of time and at fraction of the cost. I look forward to working with Yuval and the rest of the exceptional team at Capriza,” said Brian Melton of Tenaya Capital.
Capriza was founded by the former executives of Mercury Interactive, a top NASDAQ 100 company for years. Its founders include Yuval Scarlet (CEO), Oren Ariel (CTO), Ronnen Armon (VP, R&D), and Amnon Landon (Chairman), who was 2003 Forbes’ Entrepreneur of the Year. In 2006, HP acquired Mercury Interactive for $4.5 billion.
“The founders’ proven track record and deep enterprise expertise is outstanding. Capriza’s team excels at tackling long-standing, unresolved problems facing enterprise companies. This current tipping point has created a huge market opportunity that we believe Capriza can successfully seize,” stated Izhar Armony of CRV.
According to Gartner, organizations should rethink how they develop and deploy mobile applications due to a fundamental shift in how enterprise workers interact with their mobile devices.
Capriza helps companies leverage their multi-million dollar investments in existing enterprise software and leapfrog into the modern mobile era. Rather than recreate the wheel trying to make each enterprise application run on a mobile device, Capriza breaks complex, über business processes into mini ones. Its approach bypasses the myriad of tools, SDKs, coding, integration, and APIs required in traditional mobile app development approaches, avoiding the perpetual cost and time requirements, risk and questionable ROI.
About Capriza
Capriza fundamentally disrupts the speed and economics of taking existing business applications mobile. Capriza’s award-winning, end-to-end enterprise mobility platform enables IT and lines of business to mobile-enable critical business workflows in a matter of days without the need to access source code, APIs, or integration. The solution is applicable for packaged applications such as SAP, Oracle, Salesforce as well as custom built solutions. Capriza extends the capability of these applications, in a simple, elegant way, onto any smartphone, tablet or desktop. Founded in 2011 by former executives of Mercury Interactive, Capriza is headquartered in Palo Alto, CA and funded by Andreessen Horowitz, CRV, Tenaya Capital, Harmony Partners and Allen & Company. For more information, visit http://www.capriza.com.
Press Contacts:
Carmen Hughes
Ignite Public Relations
Carmen(at)ignitepr(dot)com
w: 650.453.8553
c: 650.576.6444
Adrienne Ortega
Capriza
Adrienne(dot)Ortega(at)capriza(dot)com
c: 650.823.3445
Carmen Hughes, Ignite Public Relations, http://www.ignitepr.com, +1 650.576.6444, [email protected]
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