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NEWS RELEASE: BSG Alliance Raises more than $50 Million to Accelerate Growth
by Kaitlin on Mar 25, 2008 - 12:45 PM read 1302 times
 

AUSTIN, Texas - March 25, 2008 - BSG Alliance, an on-demand platform for business innovation that enables the Next Generation Enterprise, today announced that it has raised more than $50 million in private financing.  This investment was led by Oak Investment Partners, with continued participation from previous investors, including Foundation Capital and Hummer Winblad Venture Partners.

"This is a very significant investment, and will provide the capital to further extend our unique platform to meet strong market demand," said Steve Papermaster, Chairman and CEO of BSG Alliance Corp. "Our Global 2000 customers are ready to make the transformation to Next Generation Enterprises - and our business innovation platform powered by Software-as-a-Service applications is helping accelerate this outcome for them."

With the pace of today's global business, companies must operate with great speed and agility in order to respond both to opportunities and threats, on demand. This is the hallmark of a Next Generation Enterprise, which calls for on demand leadership, talent management and customer experience - and these characteristics, enabled by Software-as-a-Service applications, make up the core of BSG Alliance's offerings.  The opportunity in SaaS-based applications is significant - according to Goldman Sachs, the on-demand SaaS market will grow to $21 billion by 2011.

In connection with the financing, Ren Riley, General Partner with Oak Investment Partners, will join BSG Alliance's board of directors.  Other BSG Alliance board members include Jim Cash, former James E. Robison Professor, Harvard Business School; Warren Weiss, General Partner at Foundation Capital; Mitchell Kertzman, Managing Director at Hummer Winblad Venture Partners; and Steve Papermaster.

About BSG Alliance Corporation

BSG Alliance is an on-demand platform for business innovation, providing a suite of subscription-based offerings that enable the Next Generation Enterprise. Powered by software and people, BSG's on-demand offerings give organizations sustainable, breakthrough capabilities in leadership performance, talent management and development, and customer experience. Customers that subscribe to the company's on-demand offerings include a marquee list of Global 2000 companies in a range of industries. For more information, please visit http://www.bsgalliance.com/.

Contact:

Jessie Brumfiel for BSG Alliance
JB Labs, Inc.

jb@jb-labs.com
805-686-2718 (office)
805-350-1674 (cell)

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