Jama Software, a Portland, Oregon-based product development platform provider, has landed $200m.
The growth equity investment was led by Insight Venture Partners, with participation from Madrona Venture Growth.
Jama helps companies establish a Predictive Product Development process to mitigate risk, improve quality, identify opportunities and decrease time to market, all whilst staying compliant with regulations.
It offers its solutions to a range of industries including financial services and insurance, aerospace, medical devices, automotive, consumer electronics, enterprise software and services, and industrial technologies, among others.
“Traditional product development processes and tools are not keeping up with the growing complexity of creating new breakthrough products. Jama gives product development organizations a single platform, enabling customers to realize revenue potential faster and achieve an ongoing competitive advantage,” said Scott Roth, Jama Software CEO. “The investment from Insight Venture Partners will speed our product roadmap, as well as support ongoing global expansion.”
For financial services and insurance, Jama claims to enable the user to gain visibility, compliance and accountability while making their development process a ‘model of efficiency’.
Jama Connect enables the user to connect product teams and stakeholders in a central repository that automatically captures important conversations, changes and decisions and enables audits. It connects data and people throughout the development process, shortens review and approval cycles, eliminates email chains and reduces meeting times.
Jama also claims to shorten development cycle times, improve efficiency and help teams identify risks with real-time collaboration.
Its client roaster includes alight, Citco, Farmers Insurance, Jackson National Life Insurance company, Silicon Valley Bank and Luxoft.
“Product development organisations are facing the challenges of increasing complexity, regulation, and cross-functional collaboration, putting pressure on outdated tools and processes. Jama is enabling the world’s most innovative companies to compete and win in the digitally converged future,” said Richard Wells, managing director at Insight Venture Partners.
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