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August 28, 2006
Expansion Capital For Dutch Software Startup Servoy
Servoy, a Dutch startup that sells software development tools for database and web services application developers, has raised expansion capital from Dutch private equity firm, Newion, which manages the Private Plus Fund, along with its early, private backers.
The amount raised was not disclosed but we know that Newion caps investments by its Private Plus Fund at €2M.
The founders, three Europeans and one American, were involved in their own software and systems integrator businesses and formed Servoy a couple of years ago to develop Java software that would solve some of the issues they ran into when doing application development for big name clients.
The US-based co-founder came out of the Filemaker application developer market. Filemaker, an Apple subsdiary that has annual sales of about $85M, is a competitor, according to industry sources, but Servoy is also used by Filemaker application developers to develop so-called web frontends.
Its software development tools are positioned as enablers of rich Internet application, or more integrated web applications, that can pull data from various legacy databases, such as those from Oracle, Sybase, and MySQL.
Read - Servoy: AJAX, SOA, SaaS Platform for Oracle, Sybase, DB/2, MySQL Receives Funding (ajax sys con)
Posted on August 28, 2006 07:13 AM | Posted to News And Updates | Permalink
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