FAIRFAX, Va. - (Business Wire) Razorsight Corporation, the market leading provider of on-demand financial business intelligence solutions for communications, media and entertainment companies, today announced that Sierra Ventures has invested an additional $9 million in the company. The proceeds will be used to expand Razorsight
’s innovative product set, accelerate the company
’s international expansion, which is underway as a result of two major European carrier wins, and to support strategic global alliances.
Razorsight’s solutions ensure that Communications Services Providers (CSPs) maximize savings from network cost management while minimizing the cost of doing so. Razorsight enables service providers to realize the highest return on investment by optimizing the investment in internal staff, systems and third party service providers to achieve the maximum Network Cost Score™ - a unique performance metric created by Razorsight to quantify, benchmark and improve network cost management efficiency. Leading CSPs have generated hundreds of millions in savings, and maximized their Network Cost Score™ using Razorsight’s solutions such as AIM Capture and AIM Analytics. Razorsight’s solutions allow CSPs to gain 100 percent visibility into detailed cost data with zero touch, thereby automating critical processes that were previously arduous and manual. In addition, powerful reporting and executive dashboards allow financial executives to analyze significant cost, revenue, inventory and variable cost data in unique and meaningful ways for strategic business initiatives including network engineering, market, product and customer profitability analysis and quarterly financial reporting.
“In the two years since we initially invested, Razorsight has built an impressive leadership team that has delivered phenomenal results and great momentum,” said Steve Williams, Managing Partner, Sierra Ventures. “Razorsight has developed impressive new applications and has experienced rapid growth, strong financial results, and marquee customer wins across every industry segment. Sierra Ventures’ additional investment demonstrates our confidence that Razorsight will continue its impressive growth on a global basis.”
“Sierra Ventures has been an exceptional partner and has added considerable value in many ways,” stated Charlie Thomas, CEO of Razorsight. “We’re quite bullish on our growth prospects and we’re very excited about our international growth and strong partner relationships.”
About Sierra Ventures
Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments in Information Technology companies. Sierra Ventures manages nine venture capital partnerships and currently has more than $1.5 billion of committed capital. Sierra has been an active early-stage investor in a broad array of successful companies including Active Software (acquired by WebMethods), AmeriGroup, Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), FrontBridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit, Micromuse (acquired by IBM), On Assignment, OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), and others. For more information, go to www.sierraventures.com.
About Razorsight
Razorsight Corporation is the market leader in on-demand financial business intelligence solutions for communications, media and entertainment companies. Razorsight’s Software-as-a-Service (SaaS) solutions automate payables processes with zero touch by eliminating all manual processes and paper, while providing automated workflow and powerful auditing and analytics of cost and revenue data. Razorsight’s solutions ensure that Communications Service Providers (CSPs) maximize their Network Cost Score ™ - a unique performance metric created by Razorsight to benchmark how CSPs balance the blend of internal staff costs, systems and third party providers to obtain the lowest possible network costs.
Razorsight has dramatically transformed the way communications companies process, manage and reach optimal performance for cost and revenue management. The highly scalable, web-based AIM Platform is easy to implement, requires no capital investment and has helped Razorsight customers realize documented savings of several hundred million dollars. Razorsight’s solutions are used by industry leaders such as Verizon, Time Warner and Comcast, as well as by small and medium sized carriers such as Neutral Tandem and Globalcom to audit and analyze more than $50 Billion in annual spend. Razorsight’s marquee customer base is a testament to the company’s innovation and customer focus.
Razorsight is based in Fairfax, VA and has offices in St. Louis, MO and Bangalore, India. For more information about Razorsight, visit: www.razorsight.com.
Razorsight Corporation
Nilanjan Ray
Director, Marketing at Razorsight
703-995-5900
nilanjan.ray@razorsight.com
www.razorsight.com
or
Welz & Weisel Communications:
Chris Leach
703-218-3555
chris@w2comm.com
