Carmel Ventures made the investment in the company's first financing round.
Cloud-based enterprise software management solutions developer SAManage Ltd. has raised $3 million in its first financing round from Carmel Ventures. The company has raised $2.3 million since it was founded in 2007 at an incubator owned by Xenia Venture Capital Ltd. (TASE:XENA).
SAManage was founded by CEO Doron Gordon, who previously founded disaster recovery solutions developer Continuity Software Ltd., and was a senior manager at BMC Software Inc. (NYSE: BMC). SAManage's chairman is Dan Barnea, a former EVP strategy at BMC, who joined the company following its acquisition of New Dimension Software in 1999.
SAManage is a SaaS company developing cloud-based IT asset management solutions for managing software licenses, computing and security contracts. The company will use the proceeds to strengthen its sales and marketing, expand its global presence, and further develop its product.
Published by Globes [online], Israel business news - www.globes-online.com - on September 23, 2012
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