LLR backs VersionOne

VersionOne, an agile ALM solutions provider, has closed $20 million in funding from LLR Partners. Shea & Company was financial advisor to VersionOne on the transaction. VersionOne is backed by OpenView Venture Partners.

PRESS RELEASE

ATLANTA, Nov. 12, 2014 /PRNewswire/ — VersionOne, recognized by agile practitioners as a leader in agile lifecycle management, announced the completion of a $20 million investment by private equity firm LLR Partners. The strategic investment supports VersionOne’s continued product innovation and market expansion as the global adoption of agile software development accelerates.

Founded in 2002, VersionOne helps companies succeed with agile development. The company’s all-in-one software solution for agile lifecycle, collaboration, quality, business intelligence, and portfolio management simplifies enterprise-scale software planning and tracking. Expert training, coaching, and consulting provides technology organizations with the skills and confidence to successfully transition to agile methods such as Scrum, Lean, Kanban, and the Scaled Agile Framework® (SAFe(TM)). Today, thousands of teams in companies around the world, including more than 35 of the Fortune 100, leverage VersionOne’s software and services to scale agile across their organizations. Customers include Boeing, bwin.party, Capital One, Cerner, McAfee, Motorola, NAGRA, Sabre, and Siemens.

“Today, nearly all enterprise software organizations are adopting agile methodologies or looking for the right partner to get them there soon,” said David Reuter, partner at LLR. “VersionOne provides not only a leading agile project management platform, but also the thought leadership, services, and partner eco-system to help customers succeed with agile transformations. The company fits LLR’s technology portfolio as a high-growth company with an experienced management team and a clear vision of success in a rapidly growing market.”

“LLR’s investment is a tremendous vote of confidence in VersionOne’s vision of simplifying software delivery for technology organizations,” said Robert Holler, CEO and co-founder of VersionOne. “As agile software development gains momentum in the enterprise and agile adoption reaches a tipping point in the software industry, we are very excited to partner with LLR in accelerating our growth and expanding market opportunity.”

Don House, chairman of VersionOne, said, “I am proud of the accomplishments of the team at VersionOne. Our long-term relationship with OpenView Venture Partners has been integral in building the company. With LLR joining us as investors and strategic partners, we look forward to even greater visibility and success.”

Shea & Company, a boutique investment bank focused on the software industry, acted as VersionOne’s exclusive financial advisor for the transaction.

About VersionOne
VersionOne is a recognized leader and visionary in agile ALM solutions. Our mission is to help companies envision and deliver great software. Our promise is to promote and serve the best interests of the agile software development community with genuine respect and humility. Every single day we work hard to make a difference both in our community and with our customers.

Today more than 50,000 teams, including over 35 of the Fortune 100, use our products to help them scale their agile initiatives faster, easier, and smarter. Whether a small team just starting out with agile or a global enterprise, VersionOne customers get the best software solutions in the industry backed by the pioneers of agile project and lifecycle management. Follow us on Google+, Twitter, Facebook and our blogs.
Agile Made Easier @ VersionOne.com

About LLR Partners
LLR Partners invests in middle market growth companies with proven business models in a broad range of industries, including business services, consumer and education, financial services, government services, healthcare services and software and IT services. With more than $2 billion raised across four funds, LLR provides capital for growth, recapitalizations and buyouts. For more information about LLR, visit llrpartners.com.