The Venture Codex

Led · Equity · Sep 2014

Magnitude Software develops unified application data management solutions and a portfolio of business application data access, management and reporting products to help enterprises unify fragmented data and deliver actionable insights. The company focuses on the ERP ecosystem, where SAP and Oracle represent major market share. Through organic growth and strategic acquisitions, Magnitude says it more than tripled revenue, profits and its global footprint in just over three years. It serves more than 1,400 customers, including 50% of the Fortune 100, and operates across North America, Europe and India. Management emphasizes technology innovation, a scalable operational platform and a global acquisition strategy to drive further international expansion and customer success. Magnitude Software provides Enterprise Information Management (EIM) software, including business intelligence, data warehousing, reporting, analytics and master data management. The company serves more than 600 global enterprise customers with over 200,000 users in 100 countries. Its core focus is enabling customers to manage data as an enterprise asset and driving customer success. Magnitude plans to use new capital to accelerate product innovation, pursue organic growth and execute strategic acquisitions to expand its end-to-end information management footprint. Management has formalized Chris Ney as chairman and CEO and the company is headquartered in Austin, Texas. Gartner projects the addressable market for Magnitude's product segments at $18.2 billion, growing to $26.7 billion by 2018 at a combined 7.9% CAGR.