Siperian - developer of the market-leading master data management (MDM) platform - today announced that it has closed an oversubscribed $25 million Series E financing (GPB 12.76 million).
Led by new investor, Investor Growth Capital (IGC), and with participation from 100 percent of Siperian's existing investors, the funding will be used to continue the Siperian's European expansion, accelerate channel development and further advance development of Siperian MDM Hub. In conjunction with this financing, Noah Walley, Managing Director at IGC, has joined Siperian's Board of Directors.
"After comprehensive due diligence with enterprise MDM users and industry analysts, it is clear that Siperian is the leading pure-play vendor in the rapidly growing master data management software market," said Noah Walley. "Investor Growth Capital is delighted to leverage its global network and experience in the software sector to help further establish Siperian as the pre-eminent worldwide brand for master data management."
Siperian's volume of business has more than tripled year-over-year from fiscal 2006 to 2007 and its customers include an expanding list of Global 500 companies in North America and Europe. The Company has also significantly expanded its partner ecosystem enabling its customers to better leverage their existing investments, improve their return on investment and achieve faster time-to-value.
Organisations are increasingly relying on Siperian MDM Hub to create reliable, complete views of their customers, products and organisations and to make their data assets actionable within existing business processes. In fact Rob Karel, a Forrester Research Analyst, recently wrote about Siperian in a year-end blog entitled, "Master Data Management 2007: The Year In Review."
Further underlining Siperian's momentum, it was recently named one of CMP's Intelligent Enterprise's 36 Companies to Watch for 2008. More specifically, Siperian's federated master data management platform was recognised for its technological leadership, strong hierarchy management capabilities and superior data governance.
"We are very enthusiastic about the latest funding from Innnvestor Growth Capital and from the powerful endorsements we continue to receive from customers, analysts and the investment community," said Peter Caswell, President and CEO of Siperian. "Although Siperian has achieved profitability, this additional funding will enable us to extend our award-winning MDM technology to a wider range of geographies and industries and, more importantly, to continue developing superior products that meet our customers complex business requirements."