new version available

Newsletter Sign Up

Please enter your email to receive FREE venture capital and private equity special offers, news, and information!

Your Name: 

Your Email:  

bookmark us

07/03/2007

newScale Secures $11 Million Investment

 

newScale, Inc., the market leader in IT Service Catalog solutions, recently announced that it has closed an $11 million round of additional funding to capitalize on the dramatic growth in the Service Catalog market. New investor Wasatch Cross Creek Capital joins existing investors Chess Ventures, Crosslink Capital, Menlo Ventures, Montagu Newhall Associates, Inc., New Enterprise Associates (NEA) and Parker Price in this oversubscribed round.

The newScale Service Catalog software suite enables the Global 2000 to transform their IT organizations to become more service-centric – resulting in higher satisfaction with IT services, improved visibility into IT consumption, greater operational effectiveness, and more control over IT spend. newScale has enjoyed record growth in new customer acquisition and revenue growth over each of the past four years.

“With the recent launch of ITIL version 3 – affirming the position of the Service Catalog at the cornerstone of IT service management – there is even greater momentum in the market than ever before. newScale’s continued dominance in customer acquisition and user adoption puts us at the forefront of the next great software category of Front Office applications for IT organizations,” said Scott Hammond, president and CEO of newScale. “This up-round of funding allows newScale to further accelerate our growth in this rapidly-expanding market by increasing software development and sales capacity.”

With more than 1.4 million users in production worldwide, newScale is the proven and safe choice for Global 2000 organizations seeking to transform IT into a service-centric model. newScale RequestCenter� and newScale AlignmentCenter™ are the only integrated Service Catalog solutions available for the entire service lifecycle in ITIL version 3 (v3). newScale solutions encompass ITIL processes that span the full range of service strategy and design, service operation and transition, and continual service improvement. Information on Service Catalog best practices and the impact of ITIL v3 is available on the newScale-sponsored open source community at www.ServiceCatalogs.com.

“The Service Catalog market has all the indicators of a substantial new market opportunity. Our due diligence showed that newScale customers are realizing significant ROI from their Service Catalog investments, and a considerable percentage of Fortune 500 companies have budgeted for Service Catalog projects this next year,” said Greg Bohlen, managing director, Wasatch Cross Creek Capital. “With a rapidly expanding installed base of top tier customers – newScale is clearly the leader that other vendors are trying to catch in this market.”

newScale, Inc. is the leader in IT Service Catalog and Service Portfolio Management software solutions for Global 2000 companies, with more than 1.4 million users worldwide. newScale solutions enable IT organizations and managed service providers to catalog their portfolio of services, govern demand for services, manage delivery of services, and optimize service quality. newScale customers – including twenty percent of the Fortune 50 – benefit from increased operational efficiency, reduced costs, improved service levels, and greater IT/business alignment.

For more information, please visit www.newscale.com