Contact Information: Contact: Ivy Eckerman Spire Communications for Boomi (540) 373-2963
Boomi Secures $4 Million in First Institutional Round of Financing
FirstMark Capital Leads Funding as Boomi Pioneers Integration-as-a-Service for SaaS and Cloud Computing
| Source: Boomi
BERWYN, PA and NEW YORK, NY--(Marketwire - July 1, 2008) - Boomi, the market and
technology leader for on-demand integration, today announced it has raised
$4 million in its first institutional round of financing. The investment
will be used to accelerate Boomi's go-to-market strategy and further secure
the company's position as the leading provider of cloud-based data and
application integration services.
Boomi On Demand(SM) is the industry's only fully on-demand integration
service that connects any combination of Software-as-a-Service (SaaS) and
on-premise applications without the burden of installing and maintaining
software packages or hardware appliances. With its "connect once, integrate
everywhere" approach, Boomi On Demand is quickly becoming the solution of
choice among major SaaS vendors and other service providers.
Once an application is connected to Boomi On Demand, it has instant
interoperability with the hundreds of other SaaS and on-premise
applications that Boomi supports. In addition, Boomi plans to open its
platform to the developer community this fall with a software development
kit (SDK) that will allow for the creation of specialized connectors by the
community to support additional applications and vertical solutions.
"This is very much a case of right solution -- right time," says Bob Moul,
Boomi's president and CEO. "Independent software vendors (ISVs) are quickly
realizing they would rather spend precious R&D dollars on their
applications than on building an integration layer that can be delivered as
a service by Boomi. It makes little sense for every ISV to solve the same
problem. By focusing on building the most robust integration solution and
opening the platform for all to use, we're laying a fundamental building
block for the continued rapid expansion of the SaaS industry."
Already in use by customers of salesforce.com, NetSuite, Intacct, Taleo,
OpSource, Zuora and many others, Boomi On Demand dramatically shortens time
to market for new ISVs and eliminates integration headaches for existing
ISVs. It allows application providers to "go deep," building competitive
differentiation with rich functionality, while Boomi "goes wide" by
handling integration with applications in the cloud and behind the
firewall.
With the close of this round of funding, Amish Jani, managing director of
FirstMark Capital, will join Boomi's Board of Directors. According to Mr.
Jani, "Boomi is radically changing the integration landscape. Boomi On
Demand transforms integration from an expensive, labor-intensive,
back-office technology to one that is a part of everyday business for
companies of all sizes. This funding will allow Boomi to build upon its
tremendous momentum and cement its place at the forefront of SaaS
integration. Whether people are talking about cloud computing, SaaS,
mashups or
platform-as-a-service, integration-as-a-service will be a necessary
component for the success of these technologies. Boomi is the clear leader
in this market."
Boomi On Demand's popularity is driven by its fully cloud-based delivery
model, its visual approach to integration that does not require coding, its
elegant solution for behind-the-firewall integration and its
pay-per-connection pricing model that finally aligns integration costs with
SaaS application costs. As more and more infrastructure services move to
the cloud, Boomi On Demand provides the critical element of integration to
the virtual stack. ISVs can connect directly to Boomi On Demand or through
platform-as-a-service providers such as OpSource.
"This investment represents an opportunity to fuel our expansion with
tech-savvy investors who share our vision for becoming the de facto
standard for integration in the SaaS industry," continued Moul. "What we're
doing with Boomi On Demand is bold and unconventional. We needed a partner
who could see beyond the status quo and had a passion for creating new
markets. We found that partner in FirstMark Capital."
About Boomi
Boomi is the market and technology leader in on-demand integration. Boomi's
patent-pending technology enables any combination of SaaS and on-premise
integration to be accomplished directly from the Web, eliminating the
burden of installing and maintaining software packages or hardware
appliances. Highly embeddable, scalable and distributable, Boomi's
architecture is being used to power the SaaS ecosystem including
application and data integration, platform-as-a-service and cloud
computing, and hosted business intelligence, mashups and analytics.
Boomi's unique "pay-per-connection" model allows organizations to pay for
only the connections they deploy at a fraction of the cost of conventional
integration solutions. For more information about Boomi, visit
www.boomi.com.
About FirstMark Capital
Based in New York City, FirstMark Capital (formerly Pequot Ventures) has
established itself as a venture leader with a strong, national reach over
its twelve year history. FirstMark invests in companies that are creating
new markets with innovative technology solutions or rethinking existing
markets by applying a novel business model. With nearly $2 billion in
capital commitments, FirstMark's team of investment and operations
professionals have decades of real-world experience and leadership in core
technology markets, making the firm uniquely qualified to offer industry
insight, relationships and the operational expertise to build lasting
businesses. Select historical investments include: Netgear, Inc.; First
Advantage Corp.; StubHub, Inc (Acquired by eBay, Inc.); Netegrity, Inc.
(Acquired by CA Inc); Flarion, Inc. (Acquired by Qualcomm, Inc.);
OutlookSoft Inc. (Acquired by SAP AG); Analex Corp. (Acquired by QinetiQ);
Vallent (Acquired by IBM); Syndesis (Acquired by Subex) and Navic (Acquired
by Microsoft). For more information, please visit www.firstmarkcap.com.
Boomi, Visual Integration Technology, Boomi On Demand, Atom and their
respective logos are the registered or common law trademarks or service
marks of Boomi, Inc. in the United States and other countries. All other
trademarks and service marks used in this publication are the property of
their respective owners.