Ravenflow, an Emeryville, Calif.-based provider of application delivery acceleration solutions, has raised $5 million in new VC funding. Backers include Alloy Ventures, Palomar Ventures and the Roda Group. In other company news, Ravenflow has named Susan Boers as its new CEO. She previously eas president of Telelogic North America.
PRESS RELEASE
Ravenflow, the leader in rapid requirements definition software, today announced that Susan Boers, formerly President of Telelogic NA and a recognized leader in the software requirements field, has been named President and CEO. Boers succeeds Dr. Joe Marasco, who will remain on Ravenflow’s Board of Directors. Ravenflow additionally announced $5 million in new venture funding, as well as significant sales momentum over the last year, with 2007 sales tripling from 2006. The investment includes funding from Alloy Ventures, Palomar Ventures and the Roda Group.
Prior to joining Ravenflow, Susan served as President of Telelogic North America, Inc., the leader in Enterprise Lifecycle Management, responsible for their North and South American operations. Susan was with Telelogic for more than 14 years. For the past 18 years, Susan has specialized in the domain of requirements management and was responsible for introducing the first requirements solution to North America and more recently, spearheading the success of the DOORS solution, which continues world market leadership in requirements management, contributing over $100 million to Telelogic revenues in 2007. Susan will work to further expand Ravenflow’s leadership position in requirements elicitation and cefinition by expanding both customer and partner initiatives. Susan holds a B.S. in biology, mathematics and music from the University of Oregon.
“Susan’s proven leadership in the requirements space, combined with her track record bringing new software technologies to market, will enable Ravenflow to continue to build on the momentum that we’ve generated in the last year,” says Marasco. “Her appointment, combined with the validation the company has received from both customers and investors, positions Ravenflow well for continued growth in this exploding market.”
“Solutions for requirements management have helped thousands of enterprises better track requirements, but up until now less attention has been paid to the importance of requirements elicitation and definition in improving project outcomes,” says Boers. “The next generation of requirements solutions will focus on improving the capability of enterprises to rapidly elicit and define application requirements. Ravenflow’s innovation in this area is catapulting the company to leadership in this new market.”
About Ravenflow
Ravenflow enables enterprises to deliver applications faster. The award-winning RAVEN software for requirements elicitation and definition quickly builds stakeholder consensus on requirements, reduces the time required for stakeholders to approve specifications, reduces developer rework due to requirements errors, and seamlessly integrates requirements and testing. RAVEN integrates requirements elicitation and definition with the application lifecycle management platforms from IBM Rational, Telelogic, HP Mercury, and Microsoft Visual Studio.
Ravenflow is based in Emeryville, CA; for more information, please visit www.ravenflow.com.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.