Rally Software has closed a $16.85 million Series C round of financing

What Company Is Offering:
Rally is the #1 partner for Agile success through its family of products, coaching and community support. With a dedicated focus on Agile practices, Rally helps organizations of all sizes shorten their development cycles, minimize risk, and collaborate across teams and silos.

How Much They Got From VCs:

Rally Software Development Corp., the #1 partner for Agile success through its family of products, coaching and community support, today announced it has closed a $16.85 million Series C round of financing. Mohr Davidow Ventures (MDV) led the round with existing backers Boulder Ventures, Mobius Venture Capital and Vista Ventures each increasing their investment. Rally will use the proceeds to further accelerate the next phase of company growth as it continues to deliver superior on-demand Agile solutions as well as build a significant sales presence in Boston and Silicon Valley as the first step in broadening its sales footprint across the U.S. and Europe.



Renowned for its ability to invest in organizations that utilize today's most innovative technologies to solve critical business problems, MDV is no stranger to the ALM industry. MDV partner Bryan Stolle co-founded MDV-backed Agile Software and served as CEO and later Chairman of the Board until Oracle acquired the company in July 2007. Stolle is widely regarded as a visionary and pioneer in the product lifecycle management (PLM) industry and will join Rally's Board of Directors.



"We're thrilled that our investors share Rally's vision and understand the market need for on-demand solutions that help customers successfully adopt and scale Agile practices," said Tim Miller, Rally's CEO. "We're especially pleased to gain the support of MDV and look forward to mirroring the success that Bryan experienced in the PLM industry for ourselves in the ALM market."

More at: www.rallydev.com.