BSG Alliance raises more than $50 Mn

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Bangalore: BSG Alliance, an on-demand platform for business innovation that enables the next generation enterprise, announced that it has raised more than $50 million in private financing. Led by Oak Investment Partners, the investment witnessed the participation from previous investors, including Foundation Capital and Hummer Winblad Venture Partners.

"Our Global 2000 customers are ready to make the transformation to Next Generation Enterprises - and our business innovation platform powered by Software-as-a-Service applications is helping accelerate this outcome for them," said Steve Papermaster, Chairman and CEO of BSG Alliance.

With the pace of today's global business, companies must operate with great speed and agility in order to respond both to opportunities and threats, on demand. This is the hallmark of a Next Generation Enterprise, which calls for on demand leadership, talent management and customer experience - and these characteristics, enabled by Software-as-a-Service applications, make up the core of BSG Alliance's offerings. The opportunity in SaaS-based applications is significant - according to Goldman Sachs, the on-demand SaaS market will grow to $21 billion by 2011.

In connection with the financing, Ren Riley, General Partner with Oak Investment Partners, will join BSG Alliance's board of directors. Other BSG Alliance board members include Jim Cash, former James E. Robison Professor, Harvard Business School; Warren Weiss, General Partner at Foundation Capital; Mitchell Kertzman, Managing Director at Hummer Winblad Venture Partners; and Steve Papermaster.

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