CollabNet, a South San Francisco, CA-based provider of cloud Application Lifecycle Management (ALM) solutions for agile software delivery, received a growth equity investment of undisclosed amount.
Vector Capital, a technology focused private equity firm, will assume a controlling interest in the company.
The company intends to use the additional resources to invest in R&D, sales and marketing with a focus on product innovation, market share expansion, and identification of markets and companies to pursue for potential mergers and acquisitions.
Led by Bill Portelli, co-founder and CEO, CollabNet provides cloud-based ALM, open source and agile training and consulting practices to help companies modernize and streamline their software delivery pipelines. Its flagship product, TeamForge®, provides customers with an open and extensible collaborative software development and delivery platform to increase collaboration and application release efficiency across larger, distributed teams. For smaller teams, CollabNet provides CloudForge®, a cloud-hosted version of Subversion, Git and TeamForge.