Late last year BonitaSoft announced that it was moving into the US as more than one thirds of the downloads for its open source business process management software is happening there. This week it has announced that it has secured US$ 11 million in Series B funding that it intends to use to expand its reach and knock the likes of Oracle and IBM’s Lombardi off the top BPM spot.
The funding round was led by Silicon Valley venture capital firm Serena Capital, along with the company's existing investors Ventech, based in Paris and Beijing, and Auriga Partners.
BonitaSoft says it will use the new funding to accelerate product development and support broader international corporate expansion.
Speaking about the funding, CEO Miguel Valdes Faura has made no bones about the fact that, in practical terms, this means aggressive expansion in the face of existing and established competitors, particularly proprietary software vendors like Pegasystems and Tibco.
We continue to take marketshare and existing customers away from the established proprietary players," says BonitaSoft CEO Miguel Valdes Faura.
Our...BPMS bridges the communication and collaboration gap between business and technical audiences to enable users throughout an organization to realize the benefits from deploying BPM."
Currently, the BonitaSoft suite includes a design studio for creating processes, a business process management engine that can adapt to different information systems architectures, and an end-user interface for managing and interacting with processes.
With it, users can turn process into business applications based on the underlying business process model. More importantly, it is flexible to interoperate with internal and external systems thanks to a library of connectors and extensions.
BonitaSoft and BPM
In the October move last year, BonitaSoft founder and CEO Miguel Valdés Faura moved from France to San Francisco and established BonitaSoft's new head office there. Dave Cloyd also set up shop in Boston, heading up business development, with the result that both coasts are now covered.
Its Open Solution, now in v5.5 and released in May combines three solutions in one: Studio for process modelling, a BPM and workflow engine, and a unique user interface that enables users create process-based applications in a single day with Bonita Open Solution.
Expect a lot more here as enterprises embrace the ROI in investing in BPM, and in particular open source BPM, of which BonitaSoft is the only vendor at the moment.