Austin Ventures commits $50 Million to form Brazos Software
By siliconindia   |   Tuesday, 02 June 2009, 23:48 IST   |    3 Comments
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Austin Ventures commits $50 Million to form Brazos Software
Texas: Austin Ventures, one of the fastest growing venture capital firms, has announced an investment commitment of $ 50 million with to form a new software company named Brazos Software Corporation. Brazos Software will pursue businesses in large and established sectors of enterprise software. Brazos Software, founded in partnership with local executives Scott Harmon CEO of Brazos and Sean Fallon, COO of Brazos will look to expand and acquire businesses in large and established sectors of enterprise software, focusing on the companies who have a good track record in the field of software production and the services. "With Scott and Sean, we believe we have put together a truly dynamic and complementary software executive team between Scott's track record of growing innovative and category-leading software companies and Sean's history of acquiring and efficiently operating software businesses, we have the right leadership team to create a highly successful software company," said Michael Rovner, AV Partner. Scott Harmon has an experience of nearly twenty years of senior leadership with venture-backed as well as large public company enterprise software companies. Recently, he was CEO of AlterPoint, a venture-backed category firm in Network Configuration and Compliance Software, where he orchestrated a strategic sale to Versata earlier this year. Before this, he was co-founder and CEO of Motive Communications, and helped the company to grow the business to nearly $100 million in revenue. He has also served in Tivoli systems, a management software firm. "The partnership with Austin Ventures is a unique opportunity; they have made a significant investment commitment to Brazos. They also bring a deep understanding and successful track record of building a company's long-term operating success while simultaneously generating superior returns for the company's investors and shareholders," said Harmon. Sean Fallon began his career at Price Waterhouse, where he provided operational and strategic consulting to underperforming companies. He has worked for Trilogy Inc at senior executive level for last ten years.

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