Polarion Software has closed $10 million in Series A funding from Siemens Venture Capital. According to the company, the capital infusion will be used for product development. Headquartered in San Francisco, Polarion is a developer of ALM solutions.
SAN FRANCISCO, March 6, 2014 /PRNewswire/ — Siemens via its Venture Capital unit (SFS VC) has made a strategic corporate investment of $10 million (series A funding) in Polarion Software. The investment will allow Polarion to expand its product development initiatives and better support its rapidly growing community of worldwide users.
This investment marks the first outside funding that Polarion has received.
Polarion is the creator of the world’s fastest enterprise scale browser-based ALM solution. Using the latest technology and unified by design, Polarion ALM solutions provide traceability and transparency, supporting all essential software and product development process activities in one easy to use solution.
According to a recent report by Ovum, Polarion drives ALM with a workflow engine that underpins the whole lifecycle on one platform. The company’s technology stands out as a truly integrated ALM solution.
“We are pleased to welcome Siemens Venture Capital into the Polarion family,” said Frank Schroeder, CEO of Polarion Software. “Siemens investment in Polarion underscores the need for enterprises in industries like automotive, medical devices, electronic engineering, telecoms, manufacturing and aerospace, to gain a 360 degree view of a project’s history, current trends and potential challenges. Marking Siemens’ first foray into Application Lifecycle Management (ALM), this milestone investment will help Polarion bring its highly sought-after platform to an even greater share of the market.”
Ralf Schnell, CEO of SFS VC, said, “We took our time to thoroughly investigate the ALM market; and in every analysis, Polarion showed-up as the number one provider in its category. With its agile and scalable technology, Polarion is well-positioned to take advantage of increasing market demand for collaborative, web-based ALM solutions. We look forward to working with Polarion Software to accelerate penetration of the company’s technology across large, distributed teams and enterprises worldwide.”
About Polarion Software
Polarion Software’s success is best described by the hundreds of Global 1000 companies and over one million users who rely daily on Polarion’s Requirements Management, Quality Assurance, and Application Lifecycle Management (ALM) solutions. Polarion is a thriving international company with offices across Europe and North America, and a wide ecosystem of partners world-wide. For more information, visit http://www.polarion.com.
About The Venture Capital Unit of SFS (SFS VC)
The Venture Capital unit of SFS (SFS VC) and corporate venture capital organization of Siemens invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets and hence plays a key role in Siemens’ global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. To date, the company has invested in more than 180 start-up companies. For more information, visit www.siemens.com/venturecapital.