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Verticals onDemand Receives Series A Funding
Company Delivers Industry-Specific CRM Applications on Salesforce Platform
PLEASANTON, CA – March 26, 2007 – Verticals onDemand, a leading provider of industry-specific onDemand CRM solutions delivered on the Salesforce Platform, announced today that it has closed its Series A funding from private investors. Verticals onDemand was founded in January 2007 by software industry veterans from Oracle, Siebel Systems, PeopleSoft, and salesforce.com with the vision of making onDemand CRM applications available to companies in key industry segments.
“The software industry is going through its most significant change since the creation of the PC – the move towards software as a service (SaaS),” explained Craig Ramsey, co-Chairman of Verticals onDemand and board member of salesforce.com. “Marc Benioff’s vision of the Salesforce Platform was to build an ecosystem for SaaS that would replace Microsoft’s antiquated platform. Having witnessed the rapid realization of his vision, I invested in Verticals onDemand with the goal of bringing all the benefits of SaaS to multiple industry segments.”
Through the creation of the Board of Directors and management team, Verticals onDemand has brought together a group of industry experts with deep expertise in enterprise and onDemand software, CRM strategy and deployments, and the life sciences industry. In addition, the team has extensive business, start-up, and technology commercialization experience, serving as early employees, founders, and directors of leading companies such as salesforce.com, PeopleSoft, and Siebel Systems. This wealth of experience convinces us that the time for traditional enterprise software has officially ended and that onDemand applications are the only viable option for today’s leading companies.
With an initial focus on global biotechnology, pharmaceuticals, and medical device companies, Verticals onDemand will deliver fully functional CRM applications on the Salesforce Platform, the world’s first multitenant, on-demand platform. The introduction of Apex Code enables Verticals onDemand to build the specific data model, functionality, and business logic required by global life sciences companies. In addition, the company will create a comprehensive network of partnerships with technology and services companies to deliver complete solutions to the life sciences industry.
Denis Pombriant, Founder and Managing Principal of Beagle Research Group, LLC., added “Software as a Service (SaaS) continues to grow in market acceptance and importance, but it has been unavailable to certain industry segments with highly specialized CRM requirements. The global life sciences industry, which has traditionally been an early adopter of sales automation and CRM technologies, is ripe for the next generation of CRM solutions.”
"The closing of our Series A funding is the first of many milestones for Verticals onDemand,” explained Peter Gassner, President & CEO. “By leveraging the Salesforce Platform, we will build onDemand CRM applications with industry-leading functionality, usability, and simplicity that provide tremendous business value to our customers in specific industry segments.”
About Verticals onDemand
Verticals onDemand leverages the Salesforce Platform to deliver onDemand customer relationship management (CRM) solutions for specific industry segments. Founded by software industry veterans, the company combines deep industry domain expertise, CRM deployment experience, and Software as a Service (SaaS) operations savvy with the Salesforce Platform, the world’s first multitenant, on-demand platform. With an initial focus on the life sciences industry, Verticals onDemand customers will achieve the fastest time to value through the deployment of fully functional CRM applications that are simple to deploy, inexpensive to operate, and provide a superior user experience.
Verticals onDemand is a privately-held company headquartered in Pleasanton, CA. For more information, visit www.verticalsondemand.com.
