Rally Software, a specialist in Agile application lifecycle management (ALM) solutions, has raised $20m in funding from previous Facebook investor Meritech Capital Partners.
Founded in 2002, Rally plans to use the finance to fuel growth and to accelerate the adoption of its ALM software, which provides a forum for project collaboration.
The company, which has offices in the US and the UK, has previously raised $68.9m in multiple funding rounds, from investors such as Mobius Venture Capital, Boulder Ventures, Mohr Davidow Ventures and Greylock Partners.
According to Rally, its suite of products, led by AgileZen, currently support more than 9,700 corporate customers and 112,000 users in over 100 countries.
Tim Miller, chief executive of Rally said: "Every business is a software business. We’re now seeing adoption of Agile practices spread across organisations and industries faster than ever,”
“We’re excited to have additional funding to meet this exploding demand for Agile ALM platforms, expert coaching services and learning communities.”
Meritech specialises in technology and internet company investment,. and has previously backed market leaders such as Salesforce and NetSuite as well as Facebook.
Rob Ward, managing director of Meritech Capital Partners said: “Meritech invests in game-changing technology companies,”
“As the dominant Agile market leader and a pioneer in bringing Software-as-a-Service to its category, Rally is natural fit for our portfolio.”
“From the company’s top ranking in independent industry analyst reports to its impressive list of enterprise customers, Rally has emerged as the clear market leader in Agile ALM,” said Tom Bogan, a member of Rally’s board of directors and a venture partner with Greylock Partners, a leading venture capital firm that invested in Rally in January 2010.
“It’s terrific to add Meritech to the elite group of investors who recognize that Rally is revolutionizing software development.”