Yesterday a flurry of tweets trumpeted the news: open-source BPM technology provider Bonitasoft had secured $11m of B-series funding in a round led by existing investors Auriga Partners and Ventech, together with Serena Capital. Bonitasoft has already impressed me with its focus and ability to deliver rapidly, including some nice user interface innovations—as well as the efficiency with which it’s managed to foster the open source community that’s helped it create a rich set of integration capabilities so that customers can readily create broad process platforms.
The official press release stated that the new round of investment would be used to “accelerate product development and support broader international corporate expansion“. I was intrigued and wanted to know more, so I asked CEO Miguel Valdes Faura if he could provide a little more detail into the company’s priorities post this funding round.This is an extract of what he said:
- During the past year we have built a strong sales machine that allows us to manage a high volume of sales. We know now how to scale this machine so we are going to invest in sales and marketing in European, Latin American and US teams.
- In addition to sales and marketing we are going to invest in different teams leading innovation at BonitaSoft. We are working on a new version of the engine to target mission critical projects deployed on premises and/or cloud, deliver advanced data definition and management capabilities, provide some social and mobile capabilities, plus some other things too.
- Last but not least, we are going to foster more technical and business integrations with open source and proprietary vendors in markets like: ETL/MDM, Application Integration, Business Intellegence, CRM and ECM.
It looks like Bonitasoft is hitting a lot of the right targets in terms of technology and market development priorities. It already positions itself as being competitive against IBM, Pegasystems, TIBCO and Oracle; if it can continue to execute over the coming year at the same pace as it has in the past 12 months, the “big beasts” of BPM technology might find themselves being bitten with increasing frequency—particularly when competing for business where software development teams and IT architecture groups are leading procurement.
If you’d like to see more of our analysis of Bonitasoft, take a look at this report.