Alignent Software Secures $6M Series A Financing

With revenue and customers in place, Alignent Software will expand sales and product development

(PRWEB) March 21, 2005 -- Alignent Software, the market leader in enterprise strategic product planning software, today announced it has secured $6 million in Series A funding from Horizon Ventures and Mission Ventures. The funds will be used to accelerate the company's rapid growth. In addition, John Hall, Managing Director of Horizon Ventures and Robert Kibble, Managing Partner of Mission Ventures, will join the Alignent Software Board of Directors.

Alignent Software is the established leader of enterprise strategic product planning solutions with many Fortune 500 corporations using its software. Its industry-leading solution, Vision Strategist, is an automated product innovation software solution that provides visibility into future capabilities, ensures R&D investment decisions are linked to long-range goals and aligns the organization's diverse stakeholders into successfully producing deliverables that maximize financial returns.

"The interest in innovation management software is skyrocketing, particularly as companies recognize the value of profitable product innovation to their future business," says Dennis Clerke, CEO of Alignent Software. "Our products deliver the vital information that synchronizes the complexity of information required from technologists, customers and suppliers to turn innovation into growth and profits."

Speaking for the investor group, John Hall, Managing Director at Horizon Ventures, observed, "We understand the need for software in the growing innovation management space. Consequently, we are not surprised that Alignent has been so successful with many top-tier customers so quickly."

Robert Kibble, Managing Partner at Mission Ventures, added: "With a proven management team, growing revenue and reputable customers already in place, Alignent Software is further along than most companies seeking Series A funding. We are optimistic to support the company's efforts to expand sales and product development."

About Horizon Ventures
Horizon Ventures is a venture capital partnership focusing on privately-held technology companies. For the last decade, the organization's managing directors have been helping entrepreneurs turn startup ventures into successful companies. Horizon Ventures invests in companies targeting the data and telecom systems, wireless networks, enterprise and technical application software, and Internet tools and infrastructure markets. For more information, visit www.horizonvc.com.

About Mission Ventures
Mission Ventures is a leading Southern California venture capital firm headquartered in San Diego. The firm helps build successful organizations by investing in the most promising companies in high growth, emerging markets. Established in 1997, Mission Ventures is led by a team of experienced professionals to capitalize on the rapidly growing entrepreneurial activity in the Southern California marketplace for professional quality, early-stage venture capital. For more information, visit www.missionventures.com.

About Alignent Software
Alignent Software is the established leader of enterprise strategic product planning solutions. The company helps its Fortune 500 clients improve time to market, eliminate redundant projects and improve efficiency by automating such planning practices as product roadmapping, portfolio selection and technology foresight with a database application of cross-functional planning information. For more information, visit www.alignent.com.

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Source :  http://www.prweb.com/releases/2005/3/prweb219460.htm