Saturday, May 16, 2009

NGenera, platform of Collaborative Enterprise Management products, Secures $10 Million in Series C Financing From Oak and Foundation Capital

nGenera secured $10 million in Series C financing with participants in the initial close of the round including Foundation Capital and Oak Investment Partners. This additional funding enables the company to increase its product development and expand the sales of its CEM solutions.

nGenera drives productivity and business velocity by deploying on-demand Collaborative Enterprise Management (CEM) solutions in the world's largest organizations. These innovative solutions combine nGenera's collaborative applications, executive insight, advisory services, and education to deliver critical business outcomes in marketing, sales, IT, HR and operations.

"The additional funds will enable nGenera to accelerate the development our Collaborative Enterprise Management solutions, as well as to strengthen and expand our sales infrastructure," said Steve Papermaster, Chairman and CEO of nGenera Corporation. "We are confident that bringing the power of web 2.0 collaboration into the core management processes of large, global enterprises is the way companies will achieve greater efficiencies both within their organization as well as across organizations boundaries."

nGenera was founded in late 2006 by Steve Papermaster.

The team:
Steve Papermaster, Chairman, President and CEO
Mike Fitzpatrick CFO
Brian K. Magierski, EVP, Corporate Development
James Dimitriou, EVP, Sales
Cydney Berry, Operations
Steve Douty, EVP, Products, Platform and Marketing

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