Foster City, California-based Arena Solutions, a product development platform provider, has secured an undisclosed amount of funding. The investor was JMI Equity. In addition to the funding, JMI’s Brian Hersman, general partner, and Suken Vakil, principal, will join Arena’s board of directors.
FOSTER CITY, Calif. – August 22, 2017 – Arena Solutions, pioneer of a cloud-based, all-in-one product development platform that unites PLM (product lifecycle management), ALM (application lifecycle management), supply chain collaboration, and QMS (quality management systems), today announced that it has received an investment from JMI Equity, a growth equity firm focused on investing in leading software companies.
Founded in 2000, Arena invented cloud-based PLM and today provides an all-in-one product development platform that unites PLM, ALM, supply chain collaboration, and QMS for the design and manufacture of complex electronics. Its solution creates a collaborative development-to-production workflow tied to the product record that connects electrical, mechanical, and software engineers, allowing them to work seamlessly with product development, quality, and manufacturing teams. Arena’s platform is the system of record for streamlining these processes, delivering value to customers by helping improve product quality, reduce costs, and accelerate time to market. With users in over 125 countries, Arena has approximately 1,000 customers today, including Intuit, Citrix Systems, Nutanix, GoPro, Thermo Fisher Scientific, and eBay.
“We’re pleased to receive this investment from JMI and now have access to their expertise and industry network, which we believe will be critical to our continued growth and expansion,” said Craig Livingston, Chief Executive Officer of Arena. “This is the right time for our business to take its next step as we are in the midst of a sustained customer expansion and evolution of our industry-leading product platform.
We’re excited to be working with the JMI team as their perspective and passion for our business are closely aligned with our own.”
Arena is a leader in SaaS applications for the product development market, particularly in the technology, electronics, and life sciences verticals, where the increasing convergence of hardware and software components creates complex manufacturing processes.
“Cloud-based software continues to revolutionize a wide range of industries, and Arena is at the forefront of this advancement,” said Brian Hersman, General Partner at JMI. “We’ve been following Arena for some time and have been impressed with its ability to innovate and continuously improve its ground-breaking software. We’re very excited to begin working with Craig and his team to assist them as they continue to deliver exceptional value to customers and their end-markets.”
JMI’s Mr. Hersman, General Partner, and Suken Vakil, Principal, will serve on Arena’s Board of Directors.
About Arena Solutions
Arena, the inventor of cloud PLM, provides an all-in-one product development platform that unites PLM, ALM, supply chain collaboration, and QMS for the design and manufacture of complex electronics. With Arena, electrical, mechanical, software, and firmware engineers can collaborate with manufacturing and quality teams to manage their bill of materials, facilitate engineering change orders, and speed prototyping. As a result, Arena customers can better meet standards while they ensure regulatory compliance, improve training management, reduce costs, increase quality, and collapse time to market.
Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award successively both in 2016 and 2017. For more information, please visit http://www.arenasolutions.com.
To learn more about Arena Solutions:
Read the Arena blog on product design, development, and manufacturing.
Follow @arenasolutions on Twitter.
Follow Arena on LinkedIn.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 130 businesses in its target markets, successfully completed over 85 exits, and raised more than $3.0 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.