New Portfolio Company
Longworth Co-Leads Series A Round In NimbusDB
NimbusDB is a next generation database company building the first operational database specifically for cloud computing. Founded by industry veterans Jim Starkey (founder of Netfrastructure, Harbor Software and Interbase) and Barry Morris (CEO of Streambase and IONA), NimbusDB's database will be the first SQL database providing 100% transaction consistency while handling petabytes of data among millions of users.
Longworth co-led NimbusDB's Series A round with Hummer Winblad Venture Partners.
With 300% year over year growth and a large market opportunity fueled by the many apps being written for platforms like the iPhone, iPad, Android, Salesforce.com and others, uTest closed on an oversubscribed $13 million Series C round led by new investor Scale Venture Partners. Longworth and other existing investors participated. Longworth previously led uTest's first institutional round of financing in 2008.
Portfolio Company Sale
Rivermine Software acquired by Emptoris
Longworth portfolio company Rivermine Software, a leader in telecom expense management solutions, announced its sale to Emptoris. Rivermine was strategically valuable to Emptoris as they expand their line of spend management solutions to Global 1000 companies. We first invested in Rivermine in April 2005 and we wish Mark Logan and the entire Rivermine management team continued great success.
Portfolio Company Update