Jama Software — a cloud-based, collaborative solution used by Global 1,000 companies to define, build and test software and technology products — today announces it has raised $20 million in funding. With this investment, Jama has raised a total of $33M.
Updata Partners joins existing partners Trinity Ventures, Madrona Venture Group and the Oregon Angel Fund in the round. Jon Seeber of Updata Partners and Tim Porter from Madrona join the Jama board alongside existing board member Karan Mehandru from Trinity Ventures.
“This additional investment is a huge vote of confidence in Jama’s vision to modernize product development in an age of increasing complexity, compliance and pressure to build it right the first time,” said Eric Winquist, Jama co-founder and CEO.
As the rise of software disrupts traditional manufacturing and engineering processes, companies are pressured to deliver better products, faster. Jama solves this challenge and serves as the system of record, action and innovation for product-centric organizations such as NASA, Comcast, Caterpillar, Dolby and Rockwell Collins.
“As we’ve seen with companies like NetSuite, SalesForce and SuccessFactors, being first to market with an intuitive system of record is a huge advantage. Jama’s SaaS platform, specific to product development and delivery, fills a critical business need,” said Jon Seeber, Partner, Updata Partners. “Jama has a modern product that solves the real problems companies have delivering innovation. We are thrilled to partner with them on the next phase of their growth.”
“We are impressed with the traction Jama continues to make in attracting and growing enterprise customers with its ambitious vision for product delivery,” said Tim Porter, Managing Director, Madrona Venture Group. “Jama is uniquely positioned to own the category and Madrona is excited to continue to work with this great team to build a market-leading company.”
The company will use the funding to bring to market industry-specific features for manufacturers in safety-critical industries. Jama is rapidly making inroads serving organizations that need to prove their products comply with stringent safety measures and standards from governing bodies, such as the FDA and the FAA.
Over the past eight years, Jama has built a large customer base from its origins as a collaborative solution for modern requirements management, a market reinvigorated by the complexities and pace of today’s product development. Jama’s product primarily serves R&D and product teams; product-centric organizations use Jama to bring the rest of the organization into and alongside the development process for critical insight into the development “black box.”