BonitaSoft, the first provider of open source Business Process Management software, has completed its first round of funding and welcomes Bertrand Diard, CEO and co-founder of Talend, to its Board of Directors.
BonitaSoft, the first provider of open source Business Process Management (BPM) software, announced today the completion of a first round of funding of $3 Million from Ventech and Auriga Partners. Chausson Finance acted as advisor for this transaction.
At the same time, the company marks the arrival of Bertrand Diard, CEO and co-founder of Talend, to its Board of Directors.
Positioned for a gap in the market
BonitaSoft is the first provider of open source software for business process management (BPM), a market which currently represents $2.6 billion with a forecasted growth of 30% per annum by 2012.
The BPM market today is dominated by giants in the software industry. Their solutions are characterized by high acquisition costs and hefty maintenance and the return on investment for the companies that have deployed them is difficult to measure and so difficult to justify.
Even in the context of the current economic crisis, marked by shrinking IT investments, BonitaSoft is faring well. This company has earned the trust of its customers by offering an open source solution that is easy to implement, with a cost of acquisition and maintenance ten times less than that of the traditional software providers.
“Open Source is needed today in all segments of information systems, to allow companies to reduce expenditures. Today, companies like MySQL, JasperSoft, Redhat, SpringSource and Talend are gaining more and more ground in the information systems of notable companies, and are seeing more and more success in the competition with the historic names in the software industry. This trend ‘reshuffles the deck’ every day in this industry, and leads me to think that BonitaSoft has what it takes to become the new success story of the open source software industry on the international market,” said Bertrand Diard, CEO and co-founder of Talend.
“We chose Bonita from BonistaSoft as the underpinning for our public sector offering,” says David Labajo, Director, Public Sector Bull Spain. “Bonita gives our customers economical, fast and intuitive processes to support e-administration and e-government. Thanks to Bonita, our customers are able to reduce development and maintenance costs of their applications while benefiting from the flexibility, reliability and scalability of the solution. Bonita is used for production at major clients in Spain such as the Ministry of Finance and the Government of the Canary Islands.”
An innovative technology based on 8 years of R & D
The story of BonitaSoft began 8 years ago with the Bonita Project. Its team had the opportunity to create the first BPM open source community within Bull. Today the Bonita solution has been downloaded more than 140 000 times and has 300 contributors around the world. BonitaSoft’s BPM open source solution proposes an architecture that is adaptable to all types of applications in all types of businesses.
“This funding will allow us to accelerate our development internationally as well as in France. We will be able to bring more resources to our community to make the deployment of BPM solutions equally feasible in companies regardless of their size, by providing solutions with powerful and simple-to-use features,” explains Miguel Valdés Faura, CEO of BonitaSoft and co-founder of Bonita.
“The team, the business model, and the BonitaSoft solution completely captivated us. Given the reputation that this BPM solution has in the open source community, we are confident that BonitaSoft will contribute to the ‘democratization’ of BPM in business through its technological innovation” says Claire Houry, Ventech. “BonitaSoft has everything it needs to quickly become the open source BPM leader in the marketplace,” says Philippe Granger, Auriga Partners.
Created in 2009 by Miguel Valdes, Rodrigue Le Gall and Charles Souillard, BonitaSoft is the first provider of open source business process management (BPM) software. The Bonita solution has been downloaded more than 140 000 times to date by companies and organizations worldwide. BonitaSoft will democratize the use of BPM in companies of all sizes with an intuitive and powerful solution with an optimum cost. BonitaSoft is a partner of Talend and Bull and is an active member of the OW2 consortium.