Harmony Information Systems, Inc. Secures $7.5 Million Series A Financing From JMI Equity and Updata Partners |
|
By: JMI Equity Posted: 2006-12-22 23:05:37 |
|
Harmony Information Systems, Inc., a leading provider of Web-based, business process and case management software solutions for the human services industry, today announced that it has secured $7.5 million in its first round of institutional equity financing from JMI Equity and Updata Partners. The investment will be used to accelerate development and marketing of Harmony's award-winning applications for state and local government and private human services organizations. Commensurate with the funding, Brad Woloson, a General Partner at JMI, and Tim Meyers, a General Partner at Updata, joined Harmony's Board of Directors.
"We're pleased to work with JMI Equity and Updata Partners, investors who have a deep understanding of how to drive growth and value in the information technology industry," said Tonya Harmon, President and CEO of Harmony. "They have validated our vision of the market potential and of Harmony's superior approach to software solutions for health and human services agencies." Founded in 1998, Harmony provides an enterprise framework suite of solutions specifically designed to enable human service agencies to do what they do best -- help people. Harmony serves a growing number of state and local governments and private human services organizations throughout the U.S. and was recognized in 2005 with Microsoft Corporation's Best Innovation in State and Local Government Award. "Harmony continues to expand its leading position in the health and human services software market. The company is driven by a team with great domain expertise and is supported by endorsements from key customers and technology partners," said Brad Woloson of JMI Equity. "Harmony is well positioned for rapid growth with award-winning solutions that uniquely apply CRM-functionality and a software-as-a-service delivery model to a relatively untapped market," said Tim Meyers of Updata Partners. About Harmony Information Systems, Inc. HarmonyIS developed and markets Harmony, a Web-based, enterprise framework suite of software applications for information management in the human services field. Harmony is widely used by managed care organizations (MCOs), behavioral health and social service provider agencies, and state- and county- level departments of social services in their efforts to manage or administer a variety of programs and services. Founded in 1998, HarmonyIS provides the human services industry with the best in product and consulting services designed exclusively to serve diverse, changing needs. HarmonyIS takes pride in its rapidly growing list of clients -- in the Commonwealth of Virginia and around the United States -- as well as its reputation for excellent service and exceptional suite of first-rate products. About JMI Equity JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on providing growth capital to software and Internet driven businesses. Founded in 1992, JMI has invested in over 75 companies throughout North America and has approximately $700 million of capital under management. JMI invests in growing businesses. The firm's focus is on providing the first institutional capital to self-funded companies. JMI also invests in select recapitalization and management buyout financings. Representative investments include Blackbaud, Inc., DoubleClick, Inc., Jackson Hewitt, Inc., Mission Critical Software, Inc. (acquired by NetIQ, Inc.), NEON Systems, Inc. (acquired by Progress Software Corporation), Transaction Systems Architects, Inc. and Unica Corporation. About Updata Partners Based in Reston, Virginia and Red Bank, New Jersey, Updata Partners is a leading venture capital firm that invests in early and growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Led by an investment team averaging more than 20 years of operational and private equity experience in the technology industry, we seek investments where the combination of our financial backing and operating expertise will accelerate growth. With $250 million under management, the firm also selectively provides recapitalization and management buyout financing. Updata Partners is an affiliate of Updata Capital, Inc., a leading investment bank specializing in mergers and acquisitions for the IT industry. |
| Trackback url: https://press.abc-directory.com/press/829 |