Rally Software races ahead with $16m series D funding

“SaaS and agile will continue to revolutionise how software and hardware get developed worldwide,” said Tom Bogan, venture partner at Greylock. “I first met Rally Software in 2004. I’ve tracked the company over the last five years as it has become the market leader in Agile ALM. Tim Miller and his team are the kind of leaders we like to invest in – smart, serial entrepreneurs with a vision who can also really execute.”

Rally’s agile application lifecycle management (ALM) applications have the potential to make distributed development organisations faster by cutting the time and cost needed to deliver high-quality applications. According to QSM Partners, which publishes executive reports and research into agile application management and business trends, Rally’s agile ALM products and services can increase software-driven company productivity by 25 per cent above the industry average, and halve the time it takes to bring a project to market.
 
Tom Miller, CEO of Rally software, said, “Rally has enjoyed tremendous progress this past year and is in terrific shape as a company. Greylock’s investment positions us to further accelerate our growth strategies.”

Founded in 1965, Greylock has made venture investments in companies including Constant Contact, Digg, Facebook, LinkedIn, Pandora, Red Hat, RightNow Technologies, Success Factors, Wily Technology and Workday. The firm recently closed a $575m fund.

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