Portland-based Jama Software today announced that it has raised a $20 million round to fuel development of its platform that helps clients develop products efficiently.
The round, which included participation from new investor Updata Partners and existing partners Trinity Ventures and Madrona Venture Group, pushes total funding to $33 million for the eight-year-old company that now employs 140 — a number that’s doubled in the past two years.
Jama’s software-as-a-service tools are designed to make it easier for distributed teams to deliver projects on time, offering a collaborative environment in which employees can easily exchange information and ideas. The company’s 600 customers include NASA, Comcast, Caterpillar, Dolby and Rockwell Collins.
Jama CEO Eric Winquist told GeekWire that the fresh cash will be used to “increase our rapidly growing customer base even more.”
“Jama will also use the funding to extend its solution to people outside R&D and product teams, bringing the rest of the organization into the product development process,” he noted.
Winquist noted how product development has become “infinitely” more complex than it was five years ago, particularly with a growing number of product requirements and teams spread across the world.
But that’s good news for a company like Jama, which ultimately plans to target more hardware companies and device manufacturers “who are being challenged to shift their traditional hardware companies to lead with software innovation,” as Winquist put it.
“This is where we see a real opportunity,” the CEO added.
Jon Seeber of Updata Partners and Tim Porter of Madrona will join Jama’s board as a result of the new funding. Jama last raised a $13 million round in August 2013.