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RIA & Ajax: Article

AJAX Development Company Servoy Receives Funding

Established Investors Back Company to Take Advantage of its Triple-Digit Growth

Servoy BV, a supplier of development and deployment tools for business software, has reached an agreement for venture capital. Lead by the Private Plus Fund, an established European investment firm, the funding joins several private investors who have already provided financial support to Servoy. Servoy has been growing rapidly with more than triple-digit expansion over the past three years - extending Servoy's market position in both the United States and Europe. This venture capital investment enables Servoy to further increase their growth in other segments; expand into additional geographic areas; execute it's technology strategy; and support on-going research and development.

Jan Aleman, CEO of Servoy: "We are very happy with the investment of Private Plus Fund. With this additional capital, we can accelerate the execution of our business strategy. Servoy provides a powerful Java-based environment to develop and deploy new software applications; or to enhance and/or integrate existing systems. For example: CRM and ERP applications can be developed or enhanced using Servoy technology. Servoy is the first company to make building enterprise-level Java applications as easy and productive as using a classic 3GL or 4GL development platform.

Fund manager of Private Plus Fund BV, Newion Investments Management, has a reputation as an involved investor. Newion is known for investing in high-potential companies. The involvement of Newion, combined with willingness on the part of Private Plus Fund shareholders - all former entrepreneurs with a vast amount of knowledge and experience - is unique. Private Plus Fund joins with previous private investors in helping move Servoy forward into further areas of growth and expansion.

Patrick Polak, managing partner of Private Plus Fund: "It's not often that we see a company with such an impressive growth, while at the same time being profitable and cash-flow positive. The number of Fortune 500 companies they are working with is unbelievable. We are very proud to be able to invest in Servoy!"

Servoy (www.servoy.com) is based on Java and allows rapid development of enterprise-class Java applications. Servoy runs on all popular operating systems including: Windows, Linux, Mac OS X and Unix; and can connect to any SQL database. Strategic partners include Sybase and iAnywhere, who bundle their products with Servoy. Customers include: independent software vendors (ISVs) - such as those from the insurance industry and cable channel advertising - who add value to their products by using the powerful zero-deployment functionality of Servoy to write applications for vertical markets; as well as in-house software developers - such as hospital knowledge workers - who take advantage of Servoy's easy-to-use interface to create custom telemedicine applications both for internal use and to expand their humanitarian efforts.

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