BigMachines Secures Additional Growth Investment
New Expansion Round To Expand Leadership in Global B2B Ecommerce
DEERFIELD, IL— BigMachines, Inc., the global B2B ecommerce leader in cloud-based product configuration, pricing, quoting, and proposal generation, today announced it secured additional capital to further build out its product portfolio and extend its leadership and technology in the configuration, pricing and quoting (CPQ) market. Returning investors Vista Equity Partners and JMI Equity were joined by new investor salesforce.com in the round. The transaction is scheduled to close in approximately 30 days and will be subject to customary closing conditions.
BigMachines delivers cloud-based solutions that help companies Sell More and Sell Faster. BigMachines’ award-winning software easily allows customers to configure, price & quote their complex products, allowing Sales Professionals to spend more time selling and less time processing orders. With BigMachines, customers not only increase sales by spending more time with customers and optimizing cross-sell opportunities, but they also save money by eliminating costly proposal errors and reducing sales training costs. For the fourth consecutive year, BigMachines landed on the "Inc 5000 list of Fastest Growing Companies" and was also voted the Best Quoting & Orders App by customers on the Salesforce AppExchange.
“Last year was a record year for us, with 55% revenue growth, 55 new customer wins, and record profitability,” said David Bonnette, President of BigMachines. “We’re on track for another record year in 2012, and we see this investment as a tremendous opportunity to expand our leadership position in the market, grow our product portfolio, and continue on our mission to deliver unmatched customer success through our best-in-class products and services.”
“This is a very exciting time for BigMachines as it continues to deliver outstanding business results,” said Alan Cline, Principal and Co-Head of Vista Equity Partners Foundation Fund and BigMachines board member. “We are witnessing a sea change in how businesses approach their front-end sales strategies and BigMachines is at the forefront of this transformation. BigMachines has established itself as the clear leader in the fast-growing CPQ market, and is causing businesses of all sizes and scale to rethink their sales strategies to drive consistency across the sales force while increasing revenue capture opportunities. With this investment, BigMachines will be even better positioned to extend its leadership position to capitalize on the massive and under-tapped opportunity present in the market.”
BigMachines is the global leader in enabling B2B sales, helping companies sell more and sell faster. BigMachines' award-winning on-demand configurator, pricing and quoting, proposal generator, and B2B eCommerce software solutions empower sales across customers' channels by streamlining their sales processes from opportunity to order. Using BigMachines software, sales teams and channels can quickly configure products, generate quotes and proposals, manage complex pricing, generate legal contracts, and manage orders. BigMachines offers extensive reporting capabilities and easily integrates to leading CRM and ERP systems. BigMachines' rapidly growing customer base includes global leaders such as Siemens, Ingersoll Rand, and NTT Communications. For more information, visit www.bigmachines.com.
About Vista Equity Partners
Vista Equity Partners, a U.S. based private equity firm with offices in San Francisco, Chicago and Austin, currently invests approximately $6.6 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information please visit www.vistaequitypartners.com.
About JMI Equity
JMI Equity is a leading growth equity firm focused on investing in growing software, internet, business services and healthcare IT companies. Founded in 1992, JMI has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include DoubleClick, PointClickCare, Navicure, Nimsoft, ServiceNow and Seismic Micro-Technology (SMT). For more information on JMI, visit www.jmi.com.
Copyright 2012 BigMachines, Inc.