Authoria Secures $22.5 Million in Funding; Grows Bookings by 40 Percent
Increases in Total Bookings and Units Sold, One-Billion-Page-View Milestone Highlight Strong Momentum in First Half of 2007
Waltham, MA – September 28, 2007 –
Authoria, Inc., the leader in integrated talent management solutions, today announced a new round of debt and equity funding totaling $22.5 million. New investors Horizon Technology Finance and Velocity Financial Group joined existing investors Menlo Ventures, Norwest Venture Partners, Austin Ventures, Van Wagoner Capital Management, CIBC Capital Partners, and others in this round. The funding will be applied to development of the company’s market-leading talent-management platform, and to extending its position as the premier on-demand provider of talent-management solutions.
“Authoria is extending its leadership of the Integrated Talent Management market,” said Tod Loofbourrow, Authoria’s Chairman and CEO. “As employers leverage Authoria’s talent- management applications to transform their workforces into engines driving business results, our integrated solutions for the key talent functions – recruiting, performance management, compensation, and succession planning – are powering their ability to achieve organizational goals. We appreciate the confidence of Menlo, Norwest, Austin, and our other existing investors, and welcome Horizon and Velocity to our team.”
During the first half of 2007, Authoria won significant new customers, drove exceptional revenue growth, received high ratings from analyst firms including Gartner, and enhanced the capabilities of its solutions. Specifically, Authoria:
Also during the first half of 2007, numerous Authoria customers addressed industry or public forums regarding their experience in achieving business results through the use of Authoria’s applications. They included Aetna (at IHRIM 2007), Caterpillar, Inc. (at The Conference Board 2007 Strategic E-HR Conference), Compass Group (at ERE Expo Spring 2007), Finish Line, Inc. (in an HR.com webcast with Knowledge Infusion), and Hess Corporation (at The Conference Board 2007 Human Capital Metrics Conference).
Authoria® helps the world’s most competitive employers achieve superior business results, by optimizing the way they recruit, develop, compensate, retain, and engage top talent. Designed for business managers as well as HR professionals, the company’s integrated talent management (ITM) solutions enable more effective recruiting, performance management, compensation management, and succession planning across an organization. Authoria serves more than 300 large organizations and 4 million managers and employees with our on-demand Internet-based solutions. Customer companies include Aetna, Boeing, and Reuters.