Digital Fuel receives a $5 million investment

Deal Participants:
Company: Digital Fuel View Profile Charts Homepage
Investors: Apax View Profile Add Homepage   Google Search
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Deal Financials:
Investment Amount: $ 5 million
Series: E
Date:
Announced: Mar 29, 2007

PRESS RELEASE - Digital Fuel receives a $5 million investment

Digital Fuel Reports Record Year-End Results

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2007-03-27 13:50:00 -



SAN MATEO, California, March 27 /PRNewswire/ --

- Over 400 Companies Now Benefit From ServiceFlow BSM Solutions Across Diverse Industries and Geographic Regions in Asia Pacific, Europe and the Americas

Digital Fuel, the leader in Business Service Management (BSM) software solutions, today announced its best year yet in terms of revenue, customer acquisition and client success results for its fiscal FY07 period. The increasing demand for its SLA Management business applications have enabled Digital Fuel to record 12 consecutive quarters of revenue growth in the nascent BSM space.

"2006 was another year of 100% plus growth for Digital Fuel, a year in which we hit record new customers, record bookings, and continued success for our customers," said Yisrael Dancziger, President and Chief Executive Officer. "We are especially proud of delivering business value quickly to our customers, as well as providing increasing value each year. All aspects of our business are operating at excellent levels which positions Digital Fuel well for another extraordinary year ahead."

The momentum generated in fiscal 2007 culminated with the addition of over 100 new service relationships in the year-a record number of new client wins for the company-expanding our footprint to well over 400 companies. New customers benefiting from Digital Fuel's BSM solutions include companies from across EMEA, the Americas, and Asia-Pacific regions with several new customers acquired through Digital Fuel's partnerships with leading service providers, the world's largest ERP supplier, and one of the foremost telecommunications suppliers in the world. The company's impressive list of new customers includes such companies as British Telecom, Capgemini, Cisco, Computacenter, IBM, Schneider Electric, SITA, Transport for London, and Xansa, to name just a few.

Digital Fuel experienced another year of 100% support renewals by its customers, a testament to the quality of its BSM solutions and the company's commitment to deliver tangible business value. During fiscal 2007, the company launched a new software solution called ServiceFlowTM Billing and Chargeback, a logical value-added extension for current customers employing ServiceFlowTM SLA Management. ServiceFlowTM Billing and Chargeback helps companies manage important financial processes associated with IT and other business services through advanced capabilities that simplify the chargeback of service cost to consuming business units, the ability to analyze actual service cost compared to budget, and a host of other advanced capabilities.

The expansion of the Digital Fuel customer base demonstrates deeper market penetration in a wide range of industries that realize business value from its BSM solutions: Financial Services, Manufacturing, Telecommunications , Network Services, Insurance, Government, Aerospace & Defense, Consumer Products, and more.

Digital Fuel highlights for FY07 included:

- Addition of more than 100 new service relationships

- Footprint of service relationships expands past 400 companies

- 100% support renewals with existing customers

- Recorded 12th consecutive quarter of increasing revenue

- Q4 fiscal 2007 bookings were over 100% higher than the comparable quarter of fiscal 2006

About Digital Fuel

Digital Fuel Technologies, Inc., is the leading provider of business service management (BSM) software solutions, helping service provider organizations deliver customer success from IT, telecommunications, and other business services like HR and F&A. Digital Fuel has the largest deployments for SLA management, service billing and chargeback in the world, with thousands of concurrent users, SLAs, KPIs, metrics, cost formulas, and pricing rules. With Digital Fuel's patented visual approach, our customers are deployed rapidly to quickly drive business value from automating the management of service level agreements (SLAs), BSM dashboards, business impact, root cause analysis, and billing/chargeback with their service clients and vendors. ServiceFlow manages billions in business and IT services at companies and governments around the world such as Atos Origin, British Telecom, Capgemini, Cisco, CSC, Cummins, General Electric, IBM, O2, Procter & Gamble, Siemens Business Services, SITA, Telefonica, Transport for London, and many others. Digital Fuel is headquartered in San Mateo, California, with offices across North America and Europe. Learn more at www.digitalfuel.com


Contact:
Bonnie Harris
B3 Communications
+1-415-332-5816
bharris@b3communications.com
www.b3communications.com
Source: Digital Fuel


Edit History:
Dec 04 '07
This version submitted by azstrik
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