PrecisionPoint Software RAISES First Institutional funding round From
Herald Ventures
Leading UK Venture
Capital Fund, Herald Ventures II, invests £1 Million ($1.95 Million) in PrecisionPoint
Software as Microsoft® Dynamics™ business
intelligence market gains momentum
London, UK and Waltham, MA (December 20, 2006) – PrecisionPoint
Software, the company that brings sophisticated business intelligence (BI) to
Microsoft® Dynamics™ NAV, AX, and GP ERP application products, today announced that
it has received its first institutional round of venture funding of £1 million
(US $1.95 million) from the Herald Ventures II fund managed by London based Herald
Investment Management.
“PrecisionPoint
Software really stood out as an investment proposition from the strength and
consistency of its customer references – testimony to the underlying technology
and the design of the product. Our investment will enable PrecisionPoint to
take this to market.” said Herald founder Katie Potts.
The funding has enabled PrecisionPoint Software to
strengthen its management team and invest in marketing programs and to engage
more channel partners around the globe. Partners
include Microsoft Dynamics resellers, BI Consultants as well as BI tool vendors
seeking a data warehouse platform to deliver a complete solution for the
enormous Microsoft Dynamics market.
“The Herald investment has boosted our ability to make our
presence felt in important markets like the US
where we are building a healthy customer base with brand names like Twinings
and Steinway & Sons and in Europe with customers
like Ryvita and TomTom” adds PrecisionPoint Software founder and CEO Dr Nigel
Geary.
PrecisionPoint Software has recently launched PrecisionPoint
Business Warehouse version 3.0, an enterprise-caliber platform for interactive
reporting and analysis that extends data access and reporting functionality by
providing full compatibility with Microsoft® SQL Server 2005™, ProClarity™,
Microsoft® Office 2007™, Reporting Services, and SharePoint Services.
“Anyone who has Dynamics NAV
should also be using the PrecisionPoint Business Warehouse”.
Kevin Joy, Financial Controller, Ryvita - PrecisionPoint
customer.
About PrecIsionPoint software
PrecisionPoint Software Limited (formerly AnalySoft
Development Ltd) is the company that brings sophisticated business intelligence
(BI) to Microsoft® Dynamics™ customers.
PrecisionPoint Business Warehouse is a trusted and
reconciled data warehouse for Microsoft® Dynamics™ applications including
Dynamics AX, Dynamics NAV and
Dynamics GP (formerly Axapta, Navision and Great Plains).
PrecisionPoint BW is high on business content including finance, sales,
supply chain as well as operations information, and can be installed in as
little as a day. There are hundreds of satisfied end-users in production with
PrecisionPoint solutions at companies including Boehringer-Ingelheim, Ryvita,
Rotary Watches, Sega Europe, Steinway & Sons, TomTom International, Habitat
for Humanity, Harrods Aviation and Twinings.
PrecisionPoint Software is headquartered in Bracknell,
UK with a US HQ in Waltham, Massachusetts
and sales and support offices in New Jersey, California, Texas and Johannesburg, South Africa.
For product and partner contact information visit www.Precision-Point.com
or email Info@Precision-Point.com
For more information contact: Dyke Hensen at Dyke.Hensen@Precision-point.com
PR contact: Hannah McCree on +44(0)7748 771 746 or at PR@Precision-Point.com
About Herald Ventures
II
Herald Ventures II is a venture capital fund, managed by
Herald Investment Management Limited, focused primarily on investing in early
stage unquoted companies in the information technology, media and
communications sectors in the UK.
Herald Investment Management Limited was established in 1994
by Katie Potts and is one of the UK's leading specialist technology
and media investors with approximately £450 million ($900 million) of assets
under management. Herald Ventures I was
raised in 1999 with commitments of £20 million, and as of 2004 was fully
invested across 20 companies. This was
followed by Herald Ventures II in early 2005 with over £30 million of
commitments, and which is currently partially invested.
For further information, please contact Katie Potts, Tom
Hayward or Taymour Ezzat on +44(0)20 7553 6300.