Product Development Tools Maker Jama Software Raises $20M
Jama Software, the Portland, OR, company that makes a toolset for developing technology products including software, has raised $20 million in fresh funding from new investor Updata Partners and prior backers including Trinity Ventures and Madrona Venture Group.
The company says it will use the funding to expand usage of its software beyond its customers’ research and development teams and to develop products geared for specific industries.
Jama makes cloud-based software designed to help organizations manage planning, timelines, collaboration, intellectual property, testing, and other aspects of complex product development. It promises customers—including the likes of Caterpillar, Dolby, and NASA—a faster, higher-quality design and development process.
The company is also focusing more on serving the needs of product developers in industries with strict government regulatory requirements and safety standards set by the likes of the FDA and FAA.
Jama has doubled its staff in the last two years and now has 140 employees with plans for continued growth across the company.
As part of the funding, Updata’s Jon Seeber and Madrona’s Tim Porter join the Jama board.
The investment follows a $13 million round Jama announced in August 2013. For its first six years, Jama grew on revenue—it was “customer funded,” as co-founder and CEO Eric Winquist put it—after taking seed capital from angel groups including the Oregon Angel Fund, which also invested in this latest round.