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Webify lands $7m in B

si Team
Thursday, June 26, 2008
si Team
Webify Solutions has recieved a Series B round of funding of $7 million. The financing was jointly led by Viventures Partners and Dali Hook Partners and included new investors, Eyes of Texas partners. As part of the deal, Paul Dali, General Partner, Dali Hook Ventures and Asim Abdullah, General Partner, Viventures have joined Webify’s board.

“We are very pleased with the strong interest we received from the investment community,” said Manoj Saxena, CEO of Webify Solutions. “This additional investment at a notable increase in valuation is an endorsement of our technology, products, and management team.” The additinal funds will help in accelerating sales in the emerging market for On Demand Applications.

The Austin, TX-based next generation enterprise software applications company has a strong customer base in healthcare and financial services, contributing to an 8-figure sales pipeline. Webify Solutions has received attractive valuations from the industry. Their products help companies integrate people, processes, and information, thereby eliminating paper and manual touches. This is estimated to help the company save tens of millions of dollars every year.

Webify was founded in April 2002 during the downturn. Despite receiving term-sheets for $5 million, the company opted for less money at $1.5 million in the first round, through angel investors and the management team.Today the company employs 48, and is growing at a brisk pace.
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