CIMdata PLM Industry Summary Online Archive
25 July 2013
Financial News
aPriori Secures an Additional $6M to Expand Sales and Services and Accelerate Product Development
aPriori, a provider of enterprise product cost management software, announced $6 million in additional funding lead by Sigma Prime. Sigma Partners, a long standing existing investor also participated. The funding announcement follows record revenues and customer acquisition for the most recent fiscal year which ended April 30, 2013. A summary of highlights include;
- Annual revenue growth of 84%
- Annual international bookings growth of 367%
- A 62% annual increase in customers
- Achieving a customer renewal rate of 90% for the fifth consecutive year
aPriori is also pleased to announce that Bill Godfrey will be joining the aPriori Board of Directors. Bill is a seasoned executive and former CEO and Founder of Aprimo which was acquired by Teradata, a NYSE corporation.
“Our fiscal year 2013 was a great success by all measures,” said Stephanie Feraday, president and CEO of aPriori. “This funding enables us to continue to drive the business forward, and accelerate several major product development programs that will help aPriori further amplify its impact across the manufacturing enterprise. aPriori will also leverage this investment to expand our sales and services organization, and capitalize on the growing global opportunities we see emerging in key industry verticals such as automotive and aerospace.”
Bob Davoli, Board Member and Managing Director at Sigma Prime and Sigma Partners, added: “aPriori’s software demonstrates a compelling ROI for its customers. aPriori has a leading position in a large growing market with no dominant competition.”
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