Lontra Secures Series A Funding From Top-Tier VC Firms
Greylock Partners and North Bridge Venture Partners among investors in innovative Service Catalog Solution provider.
Redwood City, CA – August 30, 2006 – Lontra, Inc., provider of Service Catalog Solutions, announced today that it closed its Series A funding with Greylock Partners and North Bridge Venture Partners as the lead investors.
The company also announced that David Strohm of Greylock Partners and Paul Santinelli of North Bridge Venture Partners will join the Lontra board as part of the financing transaction. “We are excited to have Dave and Paul on our board,” said Boris Pevzner, Lontra’s Founder & CEO, “Their immense expertise and outstanding track record in building successful companies around innovative products will be invaluable to Lontra’s development as the market leader in Service Catalog solutions.”
“I see a rapidly-growing commitment to the adoption of ITIL® in progressive IT organizations,” said David Strohm, “Service Catalogs are an essential component to a successful ITIL program, and Lontra has become the market leader in implementing Service Catalogs at many of the best-of-class IT organizations.”
The funds raised in the financing will be used for business expansion, as well as for product development, particularly to complete the integration of the recently acquired Centrata technology into Lontra’s next-generation suite of software and services.
About Lontra, Inc.
Founded in 2005, Lontra provides the first and only Service Catalog Solution that features IT Financial Management and Demand Planning solutions built around an actionable IT Service Catalog. Lontra’s solutions help IT align their services to the needs of the business, manage and control IT spend, better plan for future demand, and increase overall customer satisfaction. The company is venture funded and headquartered in Redwood City, CA. For more information, visit www.lontra.com, or send an email to firstname.lastname@example.org.
About Greylock Partners
Founded in 1965, Greylock Partners is one of the world's leading venture capital firms. Over the past 41 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an "invited guest" in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Continental Cable, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Greylock's offices are located in Silicon Valley, the Boston area and Israel. For more information, please visit www.greylock.com.
About North Bridge Venture Partners
North Bridge Venture Partners is an active, early-stage venture capital firm based in the Boston area. With approximately $1.3 billion under management, North Bridge focuses on investments in the communications, software and other technology markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills and an in-depth understanding of both private and public financings. Past investments include ArrowPoint Communications, Cascade Communications, eRoom Technology, Phase Forward, Solidworks, Sonus Networks, Sycamore Networks and Wellfleet Communications. For more information about the company, please visit http://www.nbvp.com.
Lontra's award-winning consultants have a wealth of experience implementing best practice service catalogs and service portfolios, as well as developing service-based costing and budgeting. We have a track record of helping Global 1000 organizations achieve their IT Service Management (ITSM) and IT Financial Management (ITFM) goals, and can help you.
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