Orchestra Networks secures €1,5M funding from Elaia Partners to support growth in the MDM market
PARIS, France, May 14, 2007. Orchestra Networks, the leading provider of Master Data Management (MDM) solutions, today announced it has raised €1.5 million in a round of financing with ELAIA Partners, a venture capital firm focused on software technologies.
The increasing complexity of large company IT systems and the need to share reference data between various heterogeneous applications have led to the recent emergence of specialized solutions for master data management (MDM).
MDM allows companies to unify, manage and deliver reference data and parameters throughout the entire enterprise. Based on SOA standards, EBX.Platform, the MDM software designed by Orchestra Networks is the only MDM solution which generically addresses the whole scope of reference data in an organization, regardless of their type (products, clients, organization, codifications, regulations, etc.), their complexity or their destination (ERP, business applications, business intelligence systems, etc.).
Proceeds from the financing will allow Orchestra Networks to consolidate its activity in France, bolster its R&D and support structures and expand its business internationally. Since 2006, Orchestra Networks has successfully rolled-out an alliance strategy with major SOA and integration software vendors.
An initial worldwide OEM agreement was announced at the end of 2006, with Software AG to distribute Crossvision Master Data Manager, based on the EBX.Platform.
Christophe Barriolade, CEO of Orchestra Networks believes this financing will be a key milestone in the company's growth: "After signing our OEM partnership last year with Software AG and consolidating our relationships with our integration partners, this funding round with a software-focused venture capital fund will bring us to a new stage in our international development."
Philippe Gire, partner at ELAIA Partners, who headed the Orchestra Networks evaluation and joined the Board of Directors, added: "We were impressed by the quality of Orchestra Networks' management team, its targeted solutions and its existing clients and partners portfolios. Considering the results they have already achieved, I am convinced our financing will allow them to become the international leader in MDM."
About ELAIA Partners
ELAIA Partners (www.elaia.com) is an independent venture capital firm focused on software-based technology. It has some 55 million euros under direct management and by delegation. The company works closely with the companies in its portfolio at all stages of development, investing up to 4 million euros. It brings together a group of professionals from the high-tech and private equity industries, committed to taking an active role in its portfolio companies, and providing them access to the firm's extensive technology experience.
About Orchestra Networks
Founded in 2000 and based in Paris, France, Orchestra Networks (www.orchestranetworks.com) provides specialized software solutions for Master Data Management. Its EBX.Platform allows organizations to unify, manage and integrate their reference data throughout their IT systems.