SAManage Secures Series A Funding from Xenia Venture Capital
Filed under: CRM, IT management, Information Technology, SOA Governance, SaaS, Uncategorized, VC, cloud computing
SAManage, a provider of on-demand (SaaS) IT Management services with an R&D office in Israel, announced today that it has secured an undisclosed amount of Series A Funding from Xenia Venture Capital and existing investors to help support its growth and development of new SaaS-based services.
The company, which was was founded in 2007 by Doron Gordon, offers solutions for IT Asset Management, IT Risks Management, License Management and more. In September 2008, SAManage made its IT Contract Management software available for Salesforce.com users as a free AppExchange application. The software enables users to manage the organization and tracking of IT contracts, software licenses and subscriptions.
SaaS Industry outlook
According to an InformationWeek article by Andrew Conry-Murray in November 2008, a Forrester Research report released at the time predicts that while SaaS-based IT management currently accounts for 1% of IT management software, it is expected to grow to 10% of the market by 2013 because it offers cheaper and faster deployments. The report also predicts that enterprises with 1,000 or more employees will account for 50% of SaaS installations in 2009 and that while the Big Four (BMC, IBM, HP and CA) are active in the cloud, “complex applications can’t quickly be retooled for SaaS, giving upstarts time to secure enough customers to flourish.”
Additional SaaS Information
- An Aberdeen Group survey of over 130 enterprises found that top companies are implementing SaaS successfully and “view their use or planned migration to SaaS as a long-term solution.”
- Research from Gartner analyst Michael Maoz predicts that by the year 2012, 30 percent of investments in CRM will be via software-as-a-service (SaaS). (via Lauren McKay of DestinationCRM.com)
- Interest in SaaS has lead to several acquisitions by vendors, including Cisco’s acquisition of WebEx, Dell’s purchase of MessageOne and Google’s purchase of Postini among others.
- Other Israeli SaaS companies include: Clarizen, G.ho.st, Magic Software, PNMsoft, Confidela and Nolio Ltd.
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