Sunday, 09 March 2014 00:00

Polarion lands $10 million in funding from Siemens

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Polarion Software Inc., an enterprise-scale browser-based application lifecycle management provider, has raised $10 million in Series A funding from Siemens Venture Capital.
The investment, which is the San Francisco-based startup’s first outside funding, enables it to expand globally. The company did not disclose specifics and has yet to respond to an email inquiry seeking more information.
Polarion’s ALM solution allows for traceability and transparency, and supports all software and product development processes in one platform.

“Siemens investment in Polarion underscores the need for enterprises in industries like automotive, medical devices, electronic engineering, telecoms, manufacturing and aerospace, to gain a 360-degree view of a project’s history, current trends and potential challenges. Marking Siemens’ first foray into application lifecycle management (ALM), this milestone investment will help Polarion bring its highly sought-after platform to an even greater share of the market,” Polarion CEO Frank Schroeder said in a news release.

Polarion has offices in North America and Europe, and has more than 1 million users across the globe, the company said in its release. It was founded in 2005 and employs 80 people,according to CrunchBase.

 

Read 381 times Last modified on Sunday, 09 March 2014 19:59
Brian Cohen

Brian is the Chief Editor at fundedflow