newScale Secures $15 Million in Series C Funding; newScale Poised to Extend Market Leadership Position

Funding Rounds

▤ Summary

"All of our existing investors and significant new investors rewarded newScales remarkable customer acquisition and deployment successes with an increased company valuation that reflects our undisputed leadership position in the Service Delivery Management market," said Scott Hammond, president and CEO of newScale. "This new funding allows newScale to accelerate its momentum in this rapidly growing market by increasing our software development, professional services, and channel partners organizations." CIOs and other service delivery executives can then standardize and automate their operations to achieve greater efficiency, increase internal customer satisfaction, and realize bottom line savings. Our due diligence showed that newScales customers are realizing tremendous ROI from their SDM investment, and a significant percentage of Fortune 500 companies have budgets allocated for deploying service catalogs and automating service delivery operations," said Charles "Sandy" Schwab Jr., Chess Ventures. newScale Global 2000 customers, including AIG, AT&T Wireless, HP, ING Insurance and Starbucks Coffee Company, are realizing bottom line savings, increased employee productivity and improved internal customer satisfaction.

$ Funding

$
Amount $15.0M Total raised
□
Date March 29, 2005 Announcement date
◎
Investors Microsoft Accelerator - Tel Aviv, Mozilla Foundation, New Enterprise Associates, Greenspring Associates, Chess Ventures, Parker Price Venture Capital, Crosslink Capital Lead investors
▥
Company http://www.newscale.com Funded company

▥ Classifications

industries
Media and Publishing
applications
Anti Piracy

◇ AskAI Classifications

Labels
No AI classifications detected

▦ Linked Companies

Mozilla
$250M to $500M